SBD UP 44%! Extremely Undervalued At Steemit's Internal Market!!!
SBD rallies on!
Yesterday I wrote an article trying to explain why SBD is going up while other cryptos such as Steem are tumbling. If you haven't read that article yet, make sure you do by clicking HERE.
SBD is extremely undervalued here!
The price of SBD in the internal market is currently extremely undervalued compared to @poloniex. If you have SBD and want to trade it for Steem, DO NOT trade in the internal market until the price in the internal market corrects!
Each Steem is about 0.668 SBDs at @poloniex!
Right now that I'm writing this post, the price of SBD at @poloniex is roughly 0.001 BTC. In fact the latest quote is 0.00103791 BTC. This is while the price of Steem at @poloniex is roughly 0.0007 BTC! The latest quote as I'm writing is 0.00069411 BTC. That means one Steem is right now about 0.668 SBDs at @poloniex while it's about 1.181 SBDs here in the internal market!
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Let me know what you think guys and if you like my thoughts, and agree with me, make sure you share this information with your friends. :]
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I think that this statement is incorrect. You're treating SBD as if it was the same as some of the other cryptocurrencies e.g. STEEM and that's incorrect.
The intention of SBD is to be a currency pegged to the USD - that it will be relatively stable whilst the other cryptocurrencies are volatile. I believe that it was originally intended to behave like a debt instrument similar to a Bond from a company.
Just like a Bond from a company, the principal amount of each SBD is $1 - and since the 'coupon' on this Bond is now 0% to pay any more than $1 for it doesn't really make to much sense. People that are buying it now for almost $2 are taking a 50% pay cut in the hope of stability (probably because they expect Bitcoin etc. to go down more than 100% in the near future).
The correct statement would be that SBD is incredibly over valued everywhere
Even bonds rally and become "overvalued" based on interest rates. Pegging never really works. SBD is an independent currency and it cannot remain at 1 USD. It will be treated like an asset just like every other independent asset such as bonds and certain conditions can cause such assets to become "over valued everywhere" but that won't change the fact that SBD is undervalued here in the internal market right now compared to how much it's being traded elsewhere like @poloniex! ;]
You are unfortunately just missing one small detail here on your analyzes. As Poloniex is currently not allowing any funding or withdrawals on SBD or Steem the prices from there don't seem to be the right ones. Taking those from Bittrex you actually get into the direction of the internal market. (I thought already that this might be mlre or less free cash exchanging sbd and steem today but unfortunately it's not possible that way)
I had some sells waiting for SBD to rise up. I was a happy girl yesterday evening when that happened!
On Bittrex that is.
SBD has risen even more today and I think it might rise even more so I'm still waiting. So how many/much SBDs did you pay for each Steem on Bittrex?
I didn't trade it in for Steem, I just went for bitcoin, but I re-invested that into several alt coins. I did buy some Steem aswell... I went for a few alt coins that are low right now. ETH and AMP amongst them.
I usually make sure to keep some sells waiting for my SBD all the way up to where it has gone before. There are still quite a lot waiting for very unrealistic prices, just in case it makes that quick jump :-)
SBD is now at record highs. It's 2.50 USD right now. But as I explained in my previous article, it can go higher because it's being treated like a safe haven asset by crypto traders and they're using SBD to hedge against the sell-off. I think there's still room for it as I think bitcoin is about to fall below 2000 and probably bounce off again at around 1750. We'll see anyway :]
Would be great if it rises even further. I'd love to trade in some more for bitcoin, so I'll keep an eye on it. Atleast I already took some profit, which is great!
I still haven't gotten myself anything for my Steemit earnings and I'd very much like to get myself a macro lens. Going to hold off on investing any more bitcoin for now and wait for alt coins to rise back up to take some profit, then I'll check out the crypto credit card thing to see if I can finally get my lens...
Yeah i just checked, and i was like the fucj?
:]
While everyone is CRYING y'all should be BUYING!
The problem is the price of SBD is undervalued here. At poloniex, each SBD is worth about 2.44 USD right now, but here in the internal market each SBD is worth less than 1.50 USD!
Yeah sites and markets differ all over, hard to pinpoint stuff, I agree. Frustrating too.
I just checked the price at blocktrades.us and even there the price of SBD is more than what it is here in the internal market! Each Steem is about 1.100 SBDs there.
crazy, I guess thats why it matters where you convert, buy, sell, etc
Oh wow! It's 54% now! 10% more after I wrote this post :]]]
Thanks for the update on SBD as I am still learning.
Your welcome. The price of SBD in the internal market here is extremely undervalued. I think it's because @poloniex has temporarily disabled SBD and Steem deposits. :[
good info :)
:]
:)
OH NO! I just sold a bunch of SBD yesterday! OH well, I thought SBD would stay around the $1 mark..
SBD is on the top 3 best-performing currencies today! :]
This post has been ranked within the top 80 most undervalued posts in the first half of Jun 27. We estimate that this post is undervalued by $34.32 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jun 27 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Sounds like a great arbitrage opportunity man!