Understanding Steem/SBD purpose in Steemit!
How we Understand Steem/SBD?
Hello steemians,
And to those who stumble upon!
And it's December, Merry Christmas Everyone!
- How do we understand steem/sbd 's price?
Lets take a quick look of todays price in sbd
Sbd in Polo!
I think everyone knows how polo works now! Their wallet has been disabled due to large issues and I think, this is better rather than accepting sbd with no confirmation!
And it's not new that when it came to steem/sbd, polo sucks! So it's up to you to continue using it!
sbd slowly down from $11 each in the last 5 hours!
If we look in coinmarket, sbd price were at $8,
in bittrex- sbd is around $9
In hitbtc- around 8
While it is so down in polo at $5 each
Now, Why sbd Spike in the last few Days and Steem didn't?
Did you hear about steemit Campaign? Theme? Or any experiments?
There was a whale experiments called, "Lets not wait steemit going to the moon, Lets bring Steemit to the Moon!",
In my own Observation, the sbd's spike is the Whales Experiments, and who else be?
But instead of spiking steem, sbd was chosen due to its limited supply and mostly nobody staking sbd!
Steem Dollars is pegged in $$$ with 1:1 ratio, but it's not mean that it cannot be manipulated by pumping it! And because of very low supply, the drastic change in price happened!
Steem however has been pumped in last June this year but because of its overwhelmed supply, It didn't last in hours, so pumping steem will fail knowing lot of steem was being accumulated for steem power!
The purpose for STEEM is for powering up and gain influence and power via upvoting contents! Its main purpose is not for trading or to withdraw and spend. STEEM DOLLARS was pegged to $1 for rewards purposes, for cashing out, for payments, or even buying more steem if you wanted! In short, it should be spend.
So if you don't find steem/sbd its purpose, I hope this will help!
Back to the Whales Experiments, I think, they are successful in pumpinng sbd and spiking it and leaving the price high in weeks now, unlike steem before that spike at $6 each but only in minutes before it gone!
Quick Bitcoin Price!
Bitcoin will fall up to $13k, this has been speculated, retracing it's price and going up again! So I hope you see it coming too!
And since steem/btc is heavily paired in btc, we may expect steem/sbd for a lower price in the retracing events in bitcoin!
great article!, can you please tell me what is the benefits of purchasing steempower other than voting??
There is no other purpose for steem power but for influence, the more steem power you have the higher your upvote worth!
Wither you used it to gather other steemians around you or upvoted your own post for visibility,
thanks for the information, but when i read that link
https://steemit.com/steemit/@steemitguide/steemit-financial-instruments-explained-steem-steem-power-and-steem-dollar
Steem Blockchain was built to mint future tokens for the sole purpose of distributing it to Content Producers through a unique Reward Pool Mechanism, 75% of the newly created Steem minted annually is paid out to the Reward Pool allocated to reward Users on the daily basis who interact with Steem's Blockchain. Whereas the remaining 15% of Steem Inflation is rewarded to Steem Power Holders as interests and 10% is allocated to Steem Witnesses for their direct contributionOf the 9.5% Annual Instantaneous Inflation, Steem Power holders will receive 15%, 10% will be allocated to Steem Witnesses and 75% will be given to Content Creators as part of the Reward PoolIts make me to confuse regarding steempower, is it that parson saying truth abut steempower??
That content above is for steem value not steem power!
You must not confused the term with steem and steem power!
Steem can be trade, cash out or buy steem power,.
While,
Steem power is lock and inaccessible while you are using it via upvoting contents, and as an influence inside steemit!
Thanks for your help,
Previously! I thought that it will be decrease time by time and every time we needed to purchase it for maintain our influence level .
Thanks right now i am understand it will not decrease.
Your steem will not decrease, your steem power will not decrease unless you are powering down!
What will increase and decrease is its market value!
Your steem power will continue to grow as you keep posting daily contents too!
Again thanks! I did not know that steem power also increase from daily updating and posting. I have learn many thing from you :)
Its kinda of dejavu like last year its really dropping at a drastic rate
Last year? I didn't exist yet in steemit that time, heh
But i think, it will be different now,
Upvoted! So, at the end of the story, what is the best currency to keep on steemit? SBD or steem power?
If my ultimate goal is to have more influence in this platform, I would keep powering up and convert sbd in SP, but if my ultimate goal is to navigate here for a while and then cash out, I will keep accumulating SBD. Am I right?
Yeah, you're absolutely right!
I didn't hear about the whale experiment. So they didn't cash out for a period of time and the price spiked?
It's not that they didn't cash out,
They simply buy more sbd and stock it for future used!
The more they buy, the price will go high up with sbd very low supply!
Sbd can be used in smt coming launching! It could be ration in 1 sbd for 10 steem or more!
This is another way of promoting steemit social platform,
I chased it down and did pretty well with my minnow money. I was wondering who would be selling into that crazy cheap market, but I'm glad I got a bit of it.
So now I have STEEM that was quite cheap - under .20 for sure on average. So now do I do the reverse and put in some STEEM sell orders to be ready for when the ratio changes?
I'm not clear if this is a pump and dump or if we only get the pump part since the sbd is pegged (supossedly).
Actually, it has rumored that this is not pump!
And if this really true, sbd will be more worth in the future!
And of the same time, it will self promote the steemit platform to others!
Oh! So maybe they have switched the plan and will abandon the upside of the peg? That would be awesome for the content creators if it keeps up. Thanks so much for your insight and thoughts on this. I'm just glad I was able to take a bit of advantage even when I barely understand what I'm doing.
Sbd is still pegged in usd as 1:1 as your potential rewards and not basing the market value. If they will abandoned this 1:1 ratio, sbd will go back to $1 and worst in some case cenario,
Ex; if your potential rewards is 10$ using 50/50 rewards, $2.50 is for curation, and $3.85 something will be your SBD NOT IN VALUE but 3.85 sbd rewards
If this will be change, you will recieve 0.500 sbd with the current market price of $6.50 sbd! Instead of 3.85sbd
So, sbd still peg in usd in 1:1 ratio
Can we expect for another spike next year? :D
Possibly, there is another spike in coming days!
that excites me!