NEWSFLASH: STEEM BACKED DOLLARS - Sell into the High
My 27 SBD was worth about $200 at the moment. I believe it is worth selling SBD above $7.00! Turned out to be a better buy than STEEM if you could buy in at $1 where it was safe.
With SBD the supply can only quickly contract, but it cannot quickly increase. There is nothing to easily bring prices down other than the normal supply that is created for posting on a daily basis. Oddly, the best way to bring down SBD prices over time is that if STEEM prices increase. If STEEM price increases, then payouts increase, creating more SBD on a daily basis. If more SBD is created on a daily basis, then there can be more selling pressure and supply of currency.
STEEM Rally Stage 1 Complete
If you followed my post a week ago, I said STEEM was an excellent buy at 0.95 cents. From that post, it has rallied over 100% and pulled back.
With STEEM on the rise, we should expect higher payouts going forward. Also, once a major decline has played out, and a rally has begun, the first rally is rarely the last rally. Multiple phases to a cryptocurrency rally are the normal behavior. STEEM has completed one leg of the bull market it is in. I believe there are more legs to follow.
Bitcoin Future?
BTC has done a pull back from 18k, down to 12k given some late investors a better entry point. It is hard to say what BTC will do for near-term prices, but if anyone understands the long-term mechanics of a currency existing as the base exchange currency for cryptocurrency markets, then you will comprehend 10k is probably cheap for Bitcoin long-term. There is talk of alternatives to BTC, as if something will replace it. But without the consent of major exchanges changing their platforms for trading, nothing will displace the functionality of BTC.
As more currencies are traded directly for national currencies, it does reduce the usefulness of BTC, but due to money laundering laws and traditional banking restrictions, BTC remains the least hindered manner to trade with cryptocurrency.
Good advice. Just last week I suddenly woke up to the price of SBD and cashed in $6.60 SBD for $46.68 STEEM. Hey that's fun, Rinse and repeat!
BTC does have "a lock on the board" that will last for some time, via the exchanges. But as long as everyone has to actually compete, we will reestablish sound money for good, permanently.
I can even imagine a scenario where FED Coin would actually have to compete with GRATEFUL DEAD Coin by offering more to consumers than the competition.
¡Viva la Evolución!
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how much i predict that steem will go up sooner and sbd will have a drop soon
thanks
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yeah i heard sbd will touch 34$ and might even go higher
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I mean it could, sure. It's just kind of a risky concept to want to trade it that high.
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Thanks for the info. I am not so clear on why when the STEEM price goes up it brings down the price of SBD? @crypto-investor
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It increases the supply of SBD over time. In trading, likely they both go up. But STEEM going up means more SBD is created, helping prices of SBD decrease. So if STEEM increases 10x, the daily supply of SBD created would go up 10x, helping prices go down... it's just a help, doesn't mean they have to go down.
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bitcoin is going on increasing. there can be a lot of profit in this,
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selling it at highs only interesting time in cryptos
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Hey Ted, curious as to what your thoughts are on Steem Power (SP) as an investment?
What makes STEEM a better investment than say SP or SBD? I understand SP has a 13 week powerdown period but also that it also acts like an EOS token in terms of bandwidth allocation on the network. Wouldn't that be a better investment/asset to hold once STEEM really gets going (esp. with SMTs being deployed in the near future)?
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Steem Power equals STEEM in many ways, other than the small amount of interest SP receives, and the inability for hackers to quickly steal SP. Pros of SP are: security and small interest received; Cons of SP are that it is not a highly liquid asset since it takes 13 weeks to cash out. As for the SP bandwidth, I believe this is only personal bandwidth and it is not like EOS where you could sell it for a regular income.
SBD is okay if you can buy it under $1 USD and you monitor the community to see if they ever fix how it works. If SBD gets fixed it is junk then.
STEEM/SP should do well into 2018 as SMT's come online.
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Thanks for the reply, in terms of bandwidth personal (STEEM) vs. commercial (EOS).. it makes me wonder if EOS bandwidth could potentially be leased/rented out as opposed to simply sold..
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Time to sell and invest in something pretty amazing things thanks for telling about this
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Is there a way to choose payment in SBD rather than Steem? I get a lot of Steem and not very much SBD.
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The problem I have with all the steem find is that they are hard to buy. So few exchanges offer it.
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You can easily buy from your STEEM wallet via BlockTrades using a variety of cryptos. It's easy to buy on exchanges such as Poloniex but last I tried it was very tricky to transfer back to Steemit. I even lost some trying to transfer. Just go to your wallet and click on the little triangle to the right...
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Yep all the sources say the same. It wil go higher!
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Excellent advice, I am really enjoying the higher SBD price right now. It's allowing to accumulate a lot more Steem power at the moment.
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I have got to say Ted - it is a great feeling when you convert a $1SBD reward into 7 STEEM!
Now mate - tell me more about these Bible studies of yours ; ) Thought you would have been first to comment on ....
https://steemit.com/steemchurch/@sirknight/official-steemit-submission-the-first-church-of-the-blockchain-established
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Oh great
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Really enjoyng your content, you offer a much needed dose of open-minded skepticism to the cryptocurrency discussion.
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Hello, could you give us your thoughts on the current state of EOS. I am having a hard time finding a entry point
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@crypto-investor
came here from Youtube
Great Videos!! great writings and advice !!
keep them coming :)
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I am wating SBD to increase more an more
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