At what rate would you buy SP? Serious question

positive (61) in steemit • 8 years ago

We've all seen the influence that holders of SP have over the governance of the ecosystem.

So there should be a market for SP, which would certainly grow as Steemit becomes more popular.

Moreover, newbies will probably prefer to liquidate as much value from the platform as they can.

So my quesiton is: How much lower must SP be below the Steem rate you'd have to deposit at, for you to consider buying it beyond steemit?

For example, if I were to sell you $1,000s worth of SP, how much would you pay in btc?

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8 years ago by positive (61)

$17.65

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nanzo-scoop (74) · 8 years ago

I'd pay $500 for $1000 worth of SP.

Not that I don't value SP. But because liquidating SP is far more valuable to the seller than buying SP from them is to me.

I can go to the market, buy STEEM and power up.

The seller will have to wait two years to liquid $1000 worth of SP.

They will have to wait one year to get the $500 I'm offering. They will need to go through the rigmarole of trading out each week for a year. As well as run the risk of price fluctuations.

Also there are a lot of people on Steemit that just write blogs and are motivated by cash in their bank account. They don't curate. They have no desire to trade out every week. Where I think "I can grow this money and the price could go up." They think "the price could go down and it's a bit of a gamble." I know this because I've had this conversation with a few people.

If I were to offer $5k cash for $10k worth of SP they'd snap my fingers off! "Cash now" is a very powerful incentive.

$1.07

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positive (61) · 8 years ago

Thanks for that valuable info. Will be very useful to me.

Are you on steemit.chat?

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1 vote

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nanzo-scoop (74) · 8 years ago

Sure - just signed up today.

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theabsolute (63) · 8 years ago

A bird in the hand is worth two in the bush. How easy it is to liquidate assets is very important to consider and Steem, Bitcoin, etc. are no different.

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cryptohustlin (65) · 8 years ago

I just place low ball bids and wait to get hit. Stabilizing steem and getting a good deal on cheap steem.

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positive (61) · 8 years ago

If I were to transfer some SP directly to your account I mean.

How much of a discount would you expect.

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cryptohustlin (65) · 8 years ago (edited)

I would be happy buying 100$ of sp at 5-7% under market value :P

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positive (61) · 8 years ago

Nice to hear :)
Will note this down for market info (may even contact you for a direct trade if you'd like)

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positive (61) · 8 years ago

Are you on steemit.chat?

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cryptohustlin (65) · 8 years ago (edited)

I am from time to time, i mostly hang out on the MinnowsUnite Gli.ph(130+ steemers strong)
https://gli.ph/g/mT205P/CbFybHevfa12pvgQqtZgt50coGG6ZTyxDzDyWSXQJ7s=

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piranhax (52) · 8 years ago (edited)

That's a tough question, I can't speak to the SP value under Steem's value. I will say if Steem gets anywhere near $1.00 U.S. I'm loading up with both barrels. I'm also a long-term investor, I believe in Steemit. I tend do the opposite. I convert every Steem Dollar back into Steem Power you can't beat the return over the long term IMO. Thanks, upvoted

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1 vote

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positive (61) · 8 years ago

Thanks for that. What if I were to sell you SP at around $1 worth of Steem?
You'd be interested?

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slimjim (44) · 8 years ago

The whole purpose of not having SP trade-able with a mandatory holding period is that it forces those with a vested interest in the platform to think long term and act in a manor that promotes its continued use and value. If we were freely traded it would be too easy for deep pockets to pump and dump.