South Korea Pumping Steem and SBD. Up 60 and 120%

scandinavianlife (67) in steem • 7 years ago (edited)

not good

steem steemit crypto bitcoin cryptocurrency

7 years ago by scandinavianlife (67)

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!

Sort Order:

mus (62) · 7 years ago (edited)

The speculators might have just come back after this long bearish period. I really hope we will continue to see an uptrend starting from today and onwards. It almost seems as if the traders DECIDED that THIS is the bottom. Very nice morning news either way!

alexs1320 (71) · 7 years ago (edited)

Morning coffee, scandinavianlife and good news!
According to long-term fluctuations, it was to expect the prices to go up in March, but ok, wish them good luck in April

scandinavianlife (67) · 7 years ago

March should have been the month. But I don't think anyone really knows or perhaps put too little significance in the "cartel" or manipulators. Who knows how low they are able to push the prices. But cartel or not..once we see a real bull tendency (which dependent of time should be a price somewhere above 9500 or slightly less if later in april) I think the sentiment will change dramatically..because that means either the cartel is driving up prices again for record highs, or they have lost control...or they don't exist..

alexs1320 (71) · 7 years ago

My thinking is going like this. Ok, last year something volatile provided an incredible x10 - x50 income to the hodlers. Is there anything else that could earn 10-50x in a year? 50% is high, x50 sounds like a fairytale. No other product aside from crypto has that potential. Are we going to see some crazy growth this year? Probably. If there is a money to be invested.

We should keep in mind that Dow Jones index this year - also went down from 26.600 to 23.600 after growing constantly for a whole year
If the mainstream "incomes" go up again, there will be a lot of "brave, free money" to be invested in something volatile.

scandinavianlife (67) · 7 years ago

I think 50x from these levels is probable on a 5 year perspective. Thats a mcap of 14 trillion. Around 14% of the world total stock market mcap. Keep in mind cryptos are stocks, store of value AND a type of currency. So the total market share is something like 125-130 trillion USD. My goal is 25% of that in a 10 year perspective..or around 30 trillion USD. I think that is probable.

hms818 (61) · 7 years ago

Great... This is really a very positive news for today.

bankthecrypto (68) · 7 years ago

Do you have any info what was happens there ?
I think there is a new very big wheal with us now...

scandinavianlife (67) · 7 years ago

South Korea pumpndump most likely. Or beginning of bull market. We will see

$0.00

revisesociology (73) · 7 years ago

Thanks for this - I was just wondering what the significance of the bounce was. Still, a slightly better rate on the SBD to Steem conversion for a while!

scandinavianlife (67) · 7 years ago

You're welcome. Yeah, one could make a quick sbd to SP change..or..wait? :) IDK

$0.00

dedicatedguy (74) · 7 years ago

Well I just exchanged all the sbd and powered up!

Every steem = 0.8 sbd at the time of the exchange which is nothing bad these days

zemiatin (57) · 7 years ago

I think it's one of the best times to sell your SBD for SP.

$0.00

scandinavianlife (67) · 7 years ago

Really? I think we've seen nothing yet when it comes to SBD pumps. Why shouldn't they pump it to 10 or 20? In south korea they have fiat to Steem/sbd exchanges. And there is no reason SBD should be pegged to the dollar. It could be pegged to steem, or not pegged to anything really.

$0.00

bitbrain (63) · 7 years ago

Caution is a wise stance at this point. I'm waiting for one more big dip before the rise starts. My bottom price for BTC is $6000. From there it's a bit of lateral movement and then up.

jcobs (52) · 7 years ago

I think what $STEEM is doing in crypto right now is hugely underappreciated. Decentralised social media should, and almost certainly will, be huge one day.

rhyscn (49) · 7 years ago

Agree on short cat bounce, I think we still have a few months of sideways movement.

fullcoverbetting (69) · 7 years ago

Okay, so your advice is to wait a little bit more before buying a new batch of Neo?
I was doubting this morning if I would do it or not, maybe better to wait to have some more green days. If I buy them now ir on thursdat, it probably still is a bargain!
Happy Easter!

scandinavianlife (67) · 7 years ago

Neo? I have absolutely no knowledge when it comes to Neo :) That's one currency that I've never been involved with. Not that I have anything against it. I just never bought it. I missed the first train, and then I just was so occupied with other coins.

But technically 40-50$ seems to be a very good entry level.. However..I don't see any bullish confirmations now. I don't see any particular reason why we should go up now. But you know..tax filling deadline is April 15th in the US. Same in Japan. China was 4 days ago..and South Korea is early May I think. Most countries are somewhere between March and May. So that COULD spark another bullrun. I think that could be a likely event. But again..it depends. It seems like fundamentals and good news has no effect on cryptos. Negative news however seems to have a big impact. That supports the "cartel theory" because they use bad news as a catalyst/cover. But at some point they will meet the hodlers that won't sell, and also technical levels and people buying in. At that point (if they exist) they will take us for another incredible bullrun.

If they don't exist I think the same will happen anyway :) Which means..they could exist..;)

$0.00

fullcoverbetting (69) · 7 years ago

So no matter what, we are all going to the moon :)
I did buy my first NEO share above $100 :(. Now I'm trying to bring down my average book price, which is working okey. It now stands around $75.
There are so many bargains out there at the moment, that it is difficult to pick to coins, which really do have a future!
NEO is just the Chinese version of Ethereum and because 1/6 of the world population lifes there, I could be a good gamble! Just take a loot at the things you have in house and see how many of them are "Made in China".

$0.00

scandinavianlife (67) · 7 years ago

Yeah. It's not a bad coin to gamble on. :)

$0.00

vieira (63) · 7 years ago

Only speculation, the SBD should not even be worth more than a dollar, any rise that may have is speculative, the best as always, is to take advantage.

Something we know is that the Asian market can push the global market, so we should be aware if it continues to rise, but really, it's just fiction.

scandinavianlife (67) · 7 years ago

The thing with SBD is that there is no other reason than faith that it should not be worth more than a dollar. It can be worth exactly as much or little as the market seems fit. There is nothing limiting it to be worth 100$ or 0,00000001$...except the built in inflation. So the economic model will if im not mistaken, try to keep SBD at one dollar..but as we've seen in the past, it's a very low mcap currency so it could pretty easily be pumped and/or dumped. But there are mechanism with supply and inflation etc that tries to keep it at 1$ (I think) so anything more or less than that is not "natural". Right now it seems like it's steem and sbd are following each other, more or less.

vieira (63) · 7 years ago

Well, as I had read, the SBD is linked to the equivalent of $ 1 in Steem, that is, through Steemit one can exchange an SBD, regardless of its price, for the equivalent of $ 1 in Steem.

SBD are pegged to the value of the USD and can be redeemed on the Steem.it platform for about one dollar worth of Steem.
CryptoCompare

Although I really don't know by what mechanism this can be done. What I do know is that the Steemit platform always recognizes the SBD as $ 1, so when the SBD exceeds its common value, the most beneficial thing is to establish the payment for a reward in 50/50, that way you can exchange your SBD in the external market by Steem and get more of the latter than you would get if you turned 100% Power Up.

Going back to the market, even if the SBD is not linked to the dollar, it should not go up much either, because it was created for the purpose of holding on to a dollar, which means that its increases are not due to good news, or the future of the token, but to mere speculation.

$0.00

dera123 (62) · 7 years ago

That's because of the mechanic how Steem is generated . For every generated/rewarded Steem you get an amount of SBD equal to the usd worth of Steem, for example Steem = 4 USD then you willl get 4 SBD for every rewarded Steem.
If the Steem price rises the amount of rewarded SBD compared to Steem will rise the same way.

But the big question is: how long will it take until a price correction hits the SBD? And in addition, the total amount of SBD will rise too because there is no real way of using it (well promotion ... haha goodd one xD), it just gets transfered from one person to the other and the SBD printing machine prints more and more SBD. There is a point where ppl will realize that Steem is worth more than SBD

reko (70) · 7 years ago

woop woop!^^

lucylin (67) · 7 years ago

Don't get too excited people.

As a wise person once said to me..

'take your excitement where you can - 'cos most of your life is filled with disappointment...lol'

otenmoten (31) · 7 years ago

Maybe the reason is the higher adoption of using Steemit as social media plaform instead of Facebook, in Asia?

$0.00

afsheel (33) · 7 years ago

spoil sport lol

$0.00

abdurrahim82 (5) · 7 years ago

Thanks for share experience front us

$0.00

cryptotrader84 (61) · 7 years ago

i assume the market will keep going in this direction and we will see more green days

$0.00

geneeverett (61) · 7 years ago

Its like 6 months ago all over again... I love this! Steel had been tied to bitcoin for too long! Steem is the only crypto with a actual utility today! It deserves to be judged for what it is not tied to bitcoin price!

$0.00