The latest price variations were a bit hectic and, if you're not keeping a close eye on the market, it's easy to get sidetracked. Luckily, at the suggestion of a few followers, I implemented a SBD to STEEM chart on steem.supply, a chart which gives a clearer outlook on this pair. Or, when it doesn't, it's still a nice pastime on a Friday evening.
So, what do we have here?
Well, first of all, SBD is at the highest value compared with STEEM, in the last 8 days.
Second, for 4 consecutive days, SBD opened lower than it closed (red line is below the orange line). In laymen terms, for 4 consecutive days, it kept appreciating towards STEEM. This is even more interesting when we realize that both tokens appreciated themselves towards Bitcoin in the same interval.
Although this is way too little for a trend to be identified, it's still interesting to watch.
At a total supply of 8,480,180 tokens, SBD is still easy to pump. Today only, total traded volume was over half of the entire market cap.
So while prices as high as $13-$14 for one SBD are probably out of the question, a consistent pump is still a plausible scenario.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
Wanna know when you're getting paid?
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I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
That fact that SBD is holding steady above $3 is impressive as far as I'm concerned.
My biggest worry was that SBD would crash under a $1 after that crazy pump to $14, but that possibility is much less likely now that prices have stabilized about $3.
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Ditto, there are some serious buyers there.
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Why SBD cannot go to 13-14$ if it is manipulated by the traders highly and one more question I can check that steem is being traded on binance exchange but not SBD, any specific reasons?
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It takes a lot more power now that the supply is almost three times bigger than it was at the beginning of the pump. As for why SBD is not traded on Binance, I have no clue. But good catch :)
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Yes, SBD is easy to pump. I think the only reason why SBD is not yet on its way back to $1 despite the high inflation is that it is easy to pump.
I'm always happy when SBD goes up, but I don't forget the high inflation rate of SBD.
Chart is included in my weekly steemit statistics:
https://steemit.com/steemit/@sevenseals/steem-statistic-charts-week-06-country-statistcs-included
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So the crash may be over, and now we start climbing again. ;-)
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Just saw the prices right now an its above 56K sats
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I think it is very comfortable to get in with SBD at 3 dollar. At higher prices it is really very difficult to buy them. It definitely benefits those who want to cash out.
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Like the looks of that graph was just checking it out myself. I do miss the days of 1 SBD was like 5 steem happy I cashed in on those when the getting was good!
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Did not expect SBD to Steem to variate so wildly, and thought the variation would be pretty proportionate.
Any idea what is causing these big variations between the Steem currencies ?
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The fact that SBD has a very small supply and it's easier to be manipulated by traders.
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Are they interconnected somehow I mean the way they are generated ?
Not sure if I read on one of your posts or somewhere else that Steem mining has been monopolized by a small group...
Do you know any place where I could read on these two issues ?
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The white and blue paper. Mining was eliminated long time ago. STEEM and SBD are printed just like Bitcoin and Ethereum are "printed" by their blockchains.
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What do you mean by "printing", I have not heard of this concept in crypto and haven't found anything on searches, besides what are all the ASICs, GPU rigs and mining farms for if not mining ?...
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Thanks for the informative post @dragorousa. As a newbie this has been a beneficial arbitrage when converting my SBD author rewards into STEEM then powering up. You are also one of my 30 witness votes. I did a post about my 30 witness votes as part of a "Learning to Steemit: From One Newbie to Another" series I am writing. It is only after writing that post have I really started to appreciate what an active role the top witnessnes play on the platform.
I still have a lot more to learn, but thank you for your major contribution to keeping the platform going. I have every intention to increase my involvement in the platform as my experience and influence increase over time.
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Thanks for supporting my witness activities, highly appreciated :)
Steem on!
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So relieved that my gamble is successful, I decided to continue dedicated to my efforts in STEEMIT.
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Btw, you already have my vote as witness because you actually have a bias above zero.
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Thank you, appreciate your support! :)
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You earned it! I think anyone with a 0 bias is being irresponsible with SBD being this high.
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I am desperately holding all my SBD and waiting for another SBD pump....
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So does that mean, if this continues I'll get more SP from my SBD? I'm still confused about this. If they both rise in value does that mean that nothing really changes in relation to SP? Do we need a gap in order for our SBD to Steem to SP to improve. Apologies if this is a really obvious question. I'm trying to understand I really am! 😁
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First of all, let's clarify the SP / Steem stuff: it's the same thing, a STEEM token. It has the same value. The only difference between STEEM and SP is the fact that when you convert STEEM to SP, it gets "locked in" and allows you increased rewards when you upvote posts / comments.
Now, the thing that you may buy with SBD is STEEM. Wether or not you want to convert it to SP after you buy it, it's a completely different question.
And yes, if SBD increases in value against STEEM, it means you can buy more STEEM - what you do with that STEEM, keep it liquid or power up, it's your choice, like I said.
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Good stuff! Steem.supply is always open in my browser!
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Nice,steem.supply has aid me in checking my payouts,never realy understood what those line are for but now i do.Good to see SBD increasing.
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I'm so happy to see SBD and STEEM price going back up with the market
i really thing those 2 have very big potemtial as they have real use here on Steemit
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The one with most potential is steem, SBD is just an inflation control tool. I stand to be corrected.
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agree with that. Not entirely an inflation control tool, but an instrument on top of the blockchain.
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Thanks for the summary and insight. I never know when to turn SBD into Steem. I feel like I've lost a lot of potential SP by being impatient. When do you feel comfortable trading SBD for SP?
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Typically, when the SBD exceeds the price of STEEM is a good time to Power Up (invest in STEEM).
That said, remember that STEEM is volatile...it can go up and down in value; and, as many are currently noticing DOES! The SP is locked in, meaning you can't do anything with it, except for watching it grow and/or decline in value OR powering down, meaning 'cashing out for incremental payouts'.
On the other hand, SBD are fluid. You can convert them into STEEM and buy other crypto with it; and/or use it whereever STEEM is accepted. The SBD will not grow and/or decline in value. It will remain as shown in your Wallet.
Bottom line: I've learned not to put all eggs in one basket. By powering everything up, you may gain in the long run, or not. But the SBD is at your disposal to convert as mentioned, or just nest.
I realize @dragosroua may get a bit busy; so, I hope this helps.
Best regards!
Peace.
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Thanks for the great response! I have a question.
It does grow and decline in value though, correct? I see the price moving almost as wildly as Steem.
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I stand corrected!
I will receive @dragosroua 's upvote to your question as confirmation. :+)!!!
In my novice attempt at explaining, I was speaking of what's shown as the SBD balance. You are absolutely correct. I check those two values daily (lol); and, it's very clear that they fluctuate.
I meant that whatever you see on the books in your SBD's account, is that value times the current value. (i.e. If it shows that you have $1. in SBD, it's actually the $1. times the current market value, currently ~$4.
I hope this makes sense...and is accurate ;+0!!! (lol)
Peace.
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Yes i have been happily watching those figures creep up today, we seem to be making a nice recovery, however still a way to go. As always @dragosroua thanks for the update and for steem.supply
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Let's hold our thumbs that the ratio keeps going in our favor, big ups as usual for the daily updates brother.
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Thanks for all you work with this @dragosroua.
This was a great feature to add to your site especially since SBD broke its peg...at least for a while.
Do you see SBD going back to a dollar either via market moves or some moves by the community?
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Very good tool @dragosroua; now we can frequently check the steem.supply page to verify the relationship between SBD and Steem. Your hobby is very good "for us". Let's hope the trend continues. Thank you. Greetings.
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Thoughts on if SBD will pump today. Looks like it high some nice buy volume this morning so I wonder if it will see another increase in buy volume in the next 2 - 4 hours.
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I am on my way to steem.supply, i need to check something.
SBD pump will take some time.
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both goes hand in hand now they are the best pair ever :)
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the graph going well up after the downtrend :)
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this has got me more confusing which one to choose steem or sbd
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Yes for sure SBD was up by around 18% compare to steem at 12%,though after such fluctuations SBD didn't collapsed it's impressive.
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