You’d have to be Crazy to “Spend” STEEM and SBDs
Most everyone has heard the story of the hundred million dollar pizzas. For those who haven’t, in May 2010 Laszlo Hanyecz bought two Dominos pizzas with 10,000 bitcoin. At the time the transaction was worth $41, but with bitcoin currently trading above $17,000 each pizza cost roughly $85 million in today’s bitcoin terms. That’s some pricey pizza pie.
Free Delivery, but Expensive Pizza
Image Credit
Well the same could happen to you if you decide to sell your SBD, or power down and sell your STEEM right now.
I know things are looking awesome as the price of STEEM hovers just below $7 and SBDs trade over $10 at some times. It probably feels like you need to sell now before things go back to the way they’ve been for so long with STEEM trading under $1 and SBDs trading right at the $1 peg.
You know what? Bitcoin holders felt the same way back in 2013 when Bitcoin traded above $1000. And many sold at that point. And sure they made some money. And then Bitcoin retreated to back under $300 and they felt great for a few years. And now look at the price of Bitcoin.
STEEM could potentially drop back in the way that Bitcoin did, but I don’t think it will. Conditions are far different now. There is far more public acceptance of cryptocurrencies, and that will continue to grow in the coming years. There is institutional money moving into cryptocurrencies, and that too will grow in the coming months and years. And unlike many of the coins out there, STEEM and SBDs actually have a working platform with Steemit and the related tools that have been created.
Things have never looked more promising for Steemit, STEEM and SBDs.
One sign of this has been pointed out by @exyle, who takes the time to monitor the STEEM ecosystem. Three months ago he made this post showing 5 million liquid STEEM being powered up. If you weren’t aware, liquid STEEM is the STEEM in your wallet that can be freely traded and bought or sold…or powered up to Steem Power.
So, back in October the amount of liquid STEEM went from 72.9 million to 67.9 million in a two day period. Good news because once STEEM is powered up its locked in for at least 13 weeks, and it shows there is demand for STEEM, which should theoretically increase the price.
Four days ago @exyle did another vlog pointing out another 500k liquid STEEM being powered up. Leaving just 64.1 million liquid STEEM.
He also made a very good point in regard to the upcoming SMTs. Every project that comes on board to use SMTs will need Steem Power to use bandwidth on the blockchain. That means any SMT project will need a significant amount of STEEM to power up. Which means demand for STEEM could skyrocket once SMTs become available.
If you still aren’t convinced, head over to @taskmaster4450’s blog. He has long been writing about the direction of StEEM, the increasing adoption of Steemit, and how cryptocurrencies are changing the world. All of his posts are interesting, especially those claiming STEEM would hit $100 in 2018, which he began proclaiming when STEEM was a mere $0.85, but recently he changed his tune.
This post will show you how STEEM could become a $1,000 token in the coming years. Go read it. I’ll wait.
So, as you can seem the internet and blockchain together are converging to completely disrupt business and commerce. Just like communications and then information was changed by the internet, growing at an increasingly frantic pace, so too will finance and commerce be changed by the combination of the internet and blockchain tech, and will grow far faster and farther than nearly anyone can imagine today.
The good news is that if you’re reading this you’re already on Steemit, and you’re still one of the early adopters. Now take advantage of that and go gather some STEEM for yourself. And once you have it, keep it. It will be far more valuable in the future, and you don’t want to be the guy or gal who paid $85 million for a pizza.
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So when do you suggest this moon mission will begin for Steem and SBD?
STEEM up ~650% and SBD up ~800% in the past 6 weeks, so I'd suggest it's already begun. Like any crypto there will likely be some volatility and dips, but adoption on the platform will only grow, and the roll-out of SMTs will only increase demand for STEEM.
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