Best Alternative to USDT? Steem Dollars or SBD!

in cryptocurrency •  5 months ago

The USD pegged cryptocurrency Tether influences almost as many markets as Bitcoin while theoretically just being worth $1. When we investigate further, we find that the assumption we can change 1 USDT into 1 USD may not be valid if a significant portion of us attempt this at the same time or when certain exchanges like Bitfinex or Kraken crash which are the primary places to trade USD/USDT. In that case, we need the best alternative to USDT. Are Steem Dollars or SBD the ideal choice because of the guaranteed ability to convert 1 SBD into 1 USD worth of Steem on the Steem blockchain?

In my opinion, which you can take or do what you want with it, Tether is the breaking point, the big potential problem for all cryptocurrencies because it seems sketchy as to whether we will actually be able to turn Tether at some point into US dollars.

Best Alternative to USDT? Steem Dollars or SBD!


I think the best alternative to Tether is Steem Dollars because unlike Tether, which theoretically represents some money you can get in exchange with US dollars, Steem Backed Dollars actually gives you one dollar worth of Steem off the Steem blockchain.

The nice thing about Steem Dollars is that it's not possible for Steem Dollars to truly go below a dollar, because we can always just convert to Steem at one dollar. Meanwhile, Steem Dollars can actually go higher like right now where it is at about $12 dollars and can go up to any price, whereas Tether just keeps printing more when the price gets up too high.

Now, at first, this might sound good, but when we start looking, Tether or USDT looks really sketchy.

I don't trust this at all.

In fact, it seems like if there is some big crash, Tether would be right in the middle of it.

What is Tether?

Tether is a cryptocurrency that's supposed to be pegged to one US dollar. In other words, it is worth one US dollar, and then you have Tether at that rate. Every Tether is not, I guess, worth one US dollar.

Now, that sounds good in theory, but the problem is that you need to be able to actually get one US dollar out of your Tether. If you have Tether and you expect it's worth a dollar, you need to actually be able to turn that dollar into one real dollar or it's just imaginary. It's not real. It doesn't actually give you a dollar if you can't make it a dollar.

Now, if we look at the charts for Tether, it gets traded a whole lot. If you look at the markets, it has huge volumes.

Tether or just Tether is one of the highest-traded cryptocurrencies and the problem is it's essentially just paper money. Unless you can actually take it to US dollar, you have no idea of what you'll be able to get out of it.

Now, this is fine as long as it's working, but like the other day, a Tether wallet was stolen and 30 million dollars disappeared. If everyone wants to cash out Tether at the exact same time, it could be a big problem.

When people start realizing, "Hey, this Tether isn't really worth anything," or "I'm not going to take it if no one wants to buy Tether."

On Bittrex and Poloniex, Tether, or just Tether, is one of the top currencies traded because it's the only way you can effectively trade in fiat.

Now, you're not actually trading in fiat, but you're effectively trading in fiat because technically, Tether is just representing a dollar. It's not a real dollar that an exchange like Coinbase or Bitstamp will pay out. It's not something that you are committed to getting paid out.

If you will notice, one of the few places you can actually change USDT or Tether straight to US dollars is on Bitfinex. That's the number one place currently to exchange USDT to USD.

Now, that's also a really big problem because Bitfinex is currently the number one exchange in terms of volume, and USDT or Tether is one of the top things on Bitfinex in terms of being traded, and USDT/USD is the number eight traded pair currently with these others above it.

This might not seem like much until you start looking into this a bit more. If you've never used Bitfinex you might think, "Oh, well. So what?"

Well, let's look at this. I just got this notice logging into Bitfinex.

"United States Customer. Please be advised that Bitfinex is terminating its relationship with US individual customers."

Now, wait a minute, I'm supposed to have a cryptocurrency, the main place I can exchange that is on Bitfinex and you're telling me Bitfinex is terminating its relationship with US customers.

Where am I supposed to exchange my USDT for US dollars?

Can I trust an exchange that is terminating its relationship with all US customers?

That can't be a good sign. There's no way that's a good sign. In fact, I am betting every one of the currencies that's mainly traded on Bitfinex is going to have some disaster in terms of price crash as Bitfinex crashes.

Now, Bitfinex is my current pick for an exchange to crash.

This is really sketchy

The main place you can exchange USDT to USD is on Bitfinex and if Bitfinex is becoming completely unreliable and not trustworthy, then where does that leave us with Tether to US dollar?

You see, if no one will exchange USDT to USD at one dollar, then the whole system for Tether breaks down, because these little BTC/USDT prices can go all kinds of crazy.

Now, it's one dollar today, but if Bitfinex or the US dollar against the Tether breaks down, all of a sudden the BTC to USDT price can skyrocket.

You might have to pay $2 or $10 of Tether to get one dollar of Bitcoin because all this Tether is based on the bottom-line assumption that one Tether is worth one US dollar, that you can exchange a Tether for a US dollar. If you can't exchange a Tether for a US dollar anywhere, it doesn't work. The US government issues US dollars, and Bitfinex is not maintaining relationships with the US customers.

Do the math on all that!

That's not good for Tether, and recently Tether just had a news story:

"Tether claims 30 million dollars stolen out of a treasury wallet."

That's not good either!

This Tether is in a very good position to collapse on Bitfinex and if you can't use it to trade your US dollar, then here's what can happen. You see that it looks like dollar markets on Bittrex, but these are not real dollars, these are Tether.

This price could go anytime, Tether could go all kinds of crazy.

That's why I'm saying there needs to be an alternative for Tether because it is not trustworthy.

Holding USDT on any exchange could lead to a complete, partial or significant loss of all that. It's not the same as holding it in a bank account, and a good question is, where do all these Tether come from?

Are there actual dollars somewhere representing all that because if not all this Tether is imaginary?

It's just made up and in that case, we need an alternative.

We need something that has more reliability than Tether. We need something that does have a guaranteed dollar cash out no matter how low it goes.

Fortunately, the Steem blockchain has an outstanding proposition for that, which is called Steem Dollars.

If we look on Bittrex you can see what the Steem Dollars have done lately. It basically stays in line with about one dollar or so of Bitcoin.

It can actually go up and it's about in line with one dollar of Steem. It tends to be worth about $1 worth of Steem because whatever you can get for a dollar of Steem, you can usually get a dollar of Bitcoin. It's about the same thing.

Now, what's cool is you can actually see that Steem Dollars is actually up to $12 right now!

While the Steem Dollars had mostly hovered around a dollar and sometimes has dipped a little bit lower, it doesn't matter if it dips lower, which is really cool because there's a feature on Steem called convert.

On the Steem blockchain, if you go over here, you can see there's a Steem Backed Dollar exchange rate. Every witness on Steem puts a rate of Steem Backed Dollars to Steem.

Therefore, one Steem is worth 1.3 Steem Backed Dollars, that's the amount of US dollars that one Steem is worth.

What anyone can do when we've got Steem Dollars in our wallet on Steem, is we can convert to Steem.

Now, the cool thing is when we convert Steem Dollars (SBD) to Steem we always get a dollar worth of Steem. No matter what the SBD price is, it always puts out a dollar worth of Steem.

If Steem is a dollar and we put in one SBD, we get one Steem out of it.

If Steem is 10 cents and we put in one SBD, we get 10 Steem out of it. If Steem is 10 dollars and we put in one SBD, we get a tenth of a Steem out of it.

Therefore, unlike looking at the Tether, Steem Dollars actually have the backing of a blockchain that we can see out there.

We can see exactly everything inside Steem. We can look at the blockchain. We can see how many Steem Dollars are out there. If we go to @poloniex or @bittrex in the wallet, we can see exactly how many Steem Dollars are being held in that specific wallet.

We can literally track all of the Steem Dollars that are available. Steem Dollars are guaranteed to be worth $1 worth of Steem because of the ability to convert to Steem. Steem Dollars always convert to Steem at $1.

Now, this does provide the potential for the price of Steem to crash because when the price of Steem goes up past $10 there will be a ton of author rewards printed every day.

If we look at my blog, half of the rewards paid out are paid out in Steem Dollars (SBD). This is really sweet because when I'm getting a pay-out, half of this is in Steem and half in Steem Dollars.

I got for this one a few days ago for$109.42, which is outstanding. Now, half of that was in Steem Dollars, and because the SBD price was $2.23, I actually got almost twice as much Steem when I went in and used the market. Today I am grateful that a payout of about 60 SBD is coming which multiplied by 12 means I may get over $700 for one ordinary post on Steem because of the high SBD price!

The nice thing is when the Steem Dollar price is above a dollar it encourages sell pressure on Steem. Therefore, if the Steem price is significantly above a dollar, the authors who are getting paid out on Steem are then incentivized to just turn that straight into Steem or to sell it right away as well.

This allows a consistent down pressure, if the SBD price gets too high, the down pressure from the new SBD printed every day to authors will help encourage it to return to a dollar, but then it won't actually be able to go much below a dollar.

Now sure, if you look back you will see some days where it was trading back as low as 70 or 80 cents because Poloniex was broken for a while and you couldn't actually withdraw it from Poloniex, which means that you couldn't actually go do a conversion request with it but this was fixed eventually.

The Steem Dollars has some real backing and transparency. I'm not satisfied with the transparency of something like Tether, and the nice thing is, let's say the SBD price goes back to one US dollar, then I would imagine this is how these spikes happen.

As you look over the last month, it was trading around a dollar, and then all of a sudden one day it gets bought up to about two dollars. If you're holding Steem Dollars, you might get lucky because if there's just a lot of buying pressure one day, and there was a lot of buying pressure on Steem Dollars the day that there was the Tether wallet hack.

Then, in fact, Steem Dollars might be a really good currency to just hold because if there is some big Tether crash, it will be extremely attractive to hold on to as there's at least some real value out of it.

Then, it's fairly easy when you have Steem Dollars, you can just trade that back and forth to Bitcoin if you're on Bittrex or Poloniex, and I'm sure this will be coming on more exchanges.

Steem Dollars can be traded back and forth to Bitcoin, and then cashed out.

With Steem Dollars there's not as much of a risk, unless something happens to Steem of course. There's not as much of a risk because there's not as much use on it either. There's not as much of a risk of a total Steem Dollars crash the way there is with the massive amounts of Tether, the lack of transparency as to how all that money's actually being used, does it represent actual US dollars, etcetera.

Then, there's just the upward potential. Imagine if you bought 100 SBD or 100,000 SBD, whatever number you want, at around a dollar because you just wanted to essentially cash out and have something worth a dollar, then it goes up to two dollars.

Your Tether is never going to go up to two dollars, whereas it could go down to 50 cents or there could be a huge spike in terms of the price of Bitcoin to Tether where it effectively could be worth a whole lot less.

You've got all these different huge potential issues with Tether, a little warning in the 30-million-dollar treasury stolen, and then you've got an alternative called Steem Dollars that gives a clear way, a much better opportunity than using Tether.

I say that I don't have anything aside from Steem, but technically I do have Steem and Steem Dollars that flow in and out of my wallet.

Another thing that also makes Steem outstanding is unlike most of other blockchains, you can start to earn some money after joining.

Now sure, I have a lot of followers, I've invested a lot of money on Steem, and the average author is not going to come in and earn good money right away by posting on Steem, but anyone anywhere in the world can easily earn a few cents if not a few dollars just by joining Steem and making some posts.

Then, when we get these author rewards, these become Steem Power, which can be powered down into Steem and also half of the rewards are Steem Dollars.

Those Steem Dollars can be immediately traded on an exchange and if the price goes below a dollar you get $1 worth of Steem.

The worst thing that can happen essentially with the Steem Dollars for the price of Steem to crash or something totally to happen to Steem. If you just want to head your bets a little bit, it might be nice to hold some Steem Dollars and some Tether, if you don't want to be completely tied up.

While so many traders are great at having a diverse portfolio, the Tether brings in a lack of diversification for most traders.

If you're on an exchange like Bittrex or Poloniex, these are two of the top exchanges after Bitfinex, but Binance also uses Tether as one of the top things to trade.

You see, Tether is where most traders do not have bets hedged. If something happens to Tether, this wallet hack is a nice little sign and all this Bitfinex stuff is another nice sign, then a lot of traders on Bittrex and Poloniex are going to find it difficult to cash out, especially for an instant cash out that doesn't require withdrawing out to another website, where you just immediately want to trade into something that might have some real value.

I'm very grateful that the Steem blockchain innovated Steem Dollars. Now, Bitshares also has a bunch of assets that are tied to a specific value, but you have to be on Bitshares for that, and I don't see any Bitshares on Bittrex because it was delisted.

We do have Steem Dollars and we also have Steem.

One little tip now that you've read all the way to the end, when Steem Dollars pumps, it's a good indication that Steem is going to pump too.

When I get paid out my author rewards on my posts, half of my rewards get paid out to me in Steem Dollars (SBD).

When I get half of those and the SBD price is up at $2, I have two options.

One, I can immediately send that off to an exchange.

Two, when I want to reinvest, which I do, then the easiest thing to do without having to withdraw my money is to simply put in an order and immediately turn my Steem Dollars into Steem because I think I'm essentially getting double for a while.

I'm betting that I'm not going to be able to keep trading my Steem at that rate.

What I do then, as you can see from some of these market orders, I then start paying Steem Dollars for Steem.

I start buying a bunch of Steem with my Steem Dollars and this helps reduce the Steem Dollars price, which is good, it's a dollar worth of Steem and it doesn't need to go that high.

I wouldn't recommend paying more than two dollars for Steem Dollars, but if it's below two dollars significantly, if it is close to a dollar, it might be a really good thing to buy.

What happens when the Steem Dollars price pumps this puts consistent pressure on Steem. It puts consistent buying pressure on Steem because this internal exchange on Steem, there are automated trading algorithms that when the orders go through, these automatically go through and exchanges them.

What happens as we can see, there's now a pump in the Steem price that was very close to the pump in the Steem Dollar price.

Often it takes a little while before the Steem price pumps, but that happens when there's consistent buying demand, as that new SBD getting created gets traded and bought over into Steem.

I often, if Steem Dollars is trading around a dollar, just hold on to it because I know it has the chance sometimes to pump to $2, and when it pumps to $2, then I will buy a bunch of Steem with it.

Another thing that makes the Steem Dollars awesome is that if you are just watching the price of SBD and the price pumps, often you got a good chance of the Steem price pumping next because of these consistent orders.

I've looked at the market a lot of days, right now there were a few sell orders for Steem to Steem Dollars. You can look at my trade history, all my trade history has been buying Steem Dollars.

But if you look when the Steem Dollars price is up like this, there's just tons of buy orders in through the Steem market, and then you get some of these big candles just like this, and then up and down.

Thank you very much for learning about my best alternative to USDT and I hope this is helpful because I'm here to be of service to you.

I'm here to help you avoid some disaster like if for example Tether crashes. I've made this post with the hope that you can get out of the way before it happens, that you don't have to lose 50% of your crypto profits because you were holding a bunch of Tether on one exchange, and then the Tether price crashed, or the only place you were trading you had to essentially withdraw in Tether.

I hope this is helpful for you if you want an alternative to Tether because this might save you a whole lot of money on losing Tether if something happens with it in the future.

Final words


Thank you for reading this blog post, which was originally filmed as the video below.

If you found this post helpful on Steem, would you please upvote it and follow me because you will then be able to see more posts like this in your home feed?

Love,

Jerry Banfield with edits by @gmichelbkk on the transcript from @deniskj

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I watched your scam video about vice.com adding SMT's in their site. No, they aren't doing anything like that. Clearly you are trying to scam people by using misinformation to get more people into steemit.

This instead harms steemit more by making a bad rep for the site.

I am putting this comment in top hoping for an explanation about your scam SMT related video.

Update: Link to the scammy video:

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@littleboy did @jerrybanfield really do that?
If he did kindly attach the link here for us to see.
Thank you

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The vice.org website is there. I see the same thing. I don't see any deception here unless Jerry is running the site himself. Is it really related to Vice.com? I don't see that indicated there precisely. Watch the video above. I have emailed the Vice.org people for clarification and I should do the same with the people at Vice.com.

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Vice.org is planning a smart media token for the Steem blockchain which was originally branded @vicecoin. The suggestion that vice.com and vice.org were related was logical because any company launching on vice.org and with Vice branding would likely be in for a lawsuit from Vice Media if this was done without permission. I assumed this was done with permission given the big players involved including Penthouse and partners.

This assumption was incorrect which was confirmed by Penthouse CEO Kelly Holland after I made the video by @adept at https://steemit.com/smt/@adept/vice-org-is-not-affiliated-with-vice-com-or-vice-media-according-to-penthouse-ceo. She also said that the branding will be changed away from Vice. Still, the basic idea of the original video that a website with a large traffic user basic is choosing the Steem blockchain for a smart media token is correct.

In the follow up video below, I clarified that vice.com is not related to vice.org.

I agree that SBD is really a good alternative, but only if it trades at 1 USD. Not at 1.5 or 3 or 12 USD.
Right now BitShares bitUSD is the best alternative to Tether... and if Tether disappears I think BitShares will receive a lot of business.

Regarding the reasons, that SBD is so high right now, especially on Bittrex, nobody has been able to give me a hint what is behind that... Perhaps someone has promised to return 10 Million SBD to somebody at a fixed date??? I can hardly imagine that.. so what is behind this?

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This. People stop celebrating. SBD above its intended value is not good! For sure you are happy with your increased rewards but SBD cannot be useful as a store of value right now if it is supposed to drop tenfold its price. Witnesses please adjust your feeds accordingly.

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"SBD cannot be useful as a store of value right now if it is supposed to drop tenfold its price."

I agree with this one!

Not a good Tether.

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If you agree then why don't you just upvote the comment you agree with? It will help it gain more visibility.

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SBD above its intended value is not good!

Interesting. May I ask what you are doing with your SBD...are you a fan of buying STEEM while the SBD is high?

Thanks!

Peace.

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I like my steem pow'd up. ( ͡~ ͜ʖ ͡°)

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Okay...good news, I'm not alone on this one...However, one last question:

What will be your signal to start selling the STEEM?

Many thanks!

Peace.

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What will be your signal to start selling the STEEM?

Whenever I need the money. I'm not here to get rich quick nor trying to time the market.

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@hueso

i think I will give myself permission to mock you

"Whenever I need the money. I'm not here to get rich quick nor trying to time the market."

If steemians will check my wallet and the transactions I did recently, they'll think am dumb insane haha, I won't even tell people my little tricks yet, I can do some magic! ahaha!

NO RISK, NO REWARD. This little girl is GOING TO THE MOON!

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I don't know for myself but I have been told that Steem Dollars have mechanisms to keep it from going too far below one dollar but nothing to keep it going above the dollar. The value of Steem dollars are not controlled by Steemians but by speculators pushing it up with reckless abandon. I'm dumping every dollar I get.

This post takes 1 hour to read, so I just watch the video and enjoy my popcorn!

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Thought the same :)

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Its nice to know how to read... :P

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I'm convinced you are @lexiconical...lol...As your comments in the community always make me laugh as his do....

Peace.

I wish the SBD stays that way, it will incentize more and more steemians to post.

SBD is pumping so high this week, the few dollars I earned in curation rewards are now a nice profit!

well no, usdt has not so much volatility like sbd and steem..

I still can't find a Steem/SBD chart or SBD/Steem chart anywhere... Any pointers?

If everyone wants to cash out any cryptocurrency at the exact same time, it could be a big problem.

It is the same thing USDT - USD | SBD - USD.

Show me please where you can sell your SBD for USD.


You can easily sell your USDT for Bitcoin (ETH for less fees) and then for USD, the same with SBD.

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with debit card

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Hunh?...How would you do this? You still need to exchange via the Big 3 BTC, LTC, ETH.

Peace.

Very true SBD is the best alternative.

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I agree, is better SBD

Way better than USDT... everyone will know just how much better soon enough.

If SBD was closer to a dollar, this would make sense. It is a peg. But SBD is 10x that amount. That means if the entire market were to collapse, SBD should lose 90% of its value if all demand dries up. While this a better hedge than holding cryptocurrency, I wouldn't recommend it right now. Then again, it could pump big time if USDT had issues and the market didn't collapse with it.

USDT FUD = Good for SBD
Market Collapse = Bad for SBD (unless SBD is near $1)

That being said, holding earned SBD earned through posting is a great idea. Buying $10 SBD off the market not so much.

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Investing in SBD for security reasons is the worst thing you could do right now. If it's not pegged to a dollar then theres no reason in holding it and having it as secure alternative.

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Thus, your recommendations????...Use SD to buy Steem?

Peace.

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Exactly. But if it were a viable alternative to Tether, one would use it that way. The way I see it there is not really a viable peg currency out there (unless you trust Bitfinex's tether). The only reason to hold it would be as a speculative tool.

let me comment first ...this would be an awsesome post i know.....now i will read this post...

very informative video thanks jerry.

In fact, I am betting every one of the currencies that's mainly traded on Bitfinex is going to have some disaster in terms of price crash as Bitfinex crashes.

Now, Bitfinex is my current pick for an exchange to crash.

Apparently, Bitfinex might not be suitable for exchange as it is now.
Aside, blocktrades, which other reputable exchange would you recommend?
It's a great moment for Steemians seems the momentum just starred higher.
I do need more of such post as this

Have to agree Steem dollars better place long term. But tether is a tool for traders not a place to invest. Comparing apples to oranges again.

i see your video. and it's a very helpful for all steemit member @jerrybanfield

Whoa this is a lot. You really take your time making these amazing posts and it’s much appreciated. Ok now time to break all this down 🤓😎 thx again.

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Yeah, this was one of the best posts on steemit I have read, simple, yet informative.

thanx you so much sir for sharing this useful post .

In fact, I am betting every one of the currencies that's mainly traded on Bitfinex is going to have some disaster in terms of price crash as Bitfinex crashes.
Now, Bitfinex is my current pick for an exchange to crash.

Well clarified...which other exchange would you recommend aside Blocktrades amidst the current SBD price.
SBD is just the best alternative and would see a swift rise in 2018.

Really the best alternative..thanks sir

It is possible for SBD to be pushed higher if it is bought on exchanges outside the internal exchange since either fiat or other crypto is used. On the internal exchange, we swap SBD for steem. Outside, people can accumulate SBD for other currencies and hold.

It is not uncommon to see people speculate on debt instruments with some of them getting outrageously priced.

If Tether does collapse, and SBD is the chosen replacement, then I foresee the price exploding. Supply and demand dictates that with 3.6 million outstanding, there arent enough to satisfy everyone's demands. Sure it is redeemable for only a dollar, if it returns that low. But financial instruments often trade above their face value or par.

Great article @jerrybanfield. I was not aware of the tether situation, thank you for researching that.

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@taskmaster I guess this is dual confirmation why buying 100% steem may not be the wisest move. The SP is the bush...the SBD is the hand...bird in the bush/2 in the hand.

Peace.

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Yes I am 50/50 with taking half of the SBD I get and putting them into SP...holding the others.

So it is 25/75 ultimately.

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...truly reminding me of the bird in the hand beats two in the bush theory...

Peace.

Both alteratives are great with plenty of room for growth, I'd pick STEEM given their current price.

Steemit provides the best alternative for investment.

SBD is my best bet, though pegged at $1, it can be exchanged for $12,what an asset?

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Today it's only ~$5. and some change....Still your best bet?

As an experiment of sorts, I'm powering up 100% til the SD drops a bit more, then the plan is to return to the 50 split.

Peace.

Exactly @jerrybanfield. SBD is the best choice right now for anyone who wants to peg their cryptocurrecy to a dollar value.

To add upto the maximum security and stability on the steem blockchain, SBD is sso high right now and seems to finally be on an upward trend for realz.

So the best advice I can give anyone : Dump your shitcoins and buy STEEM/SBD.

Thanks for sharing detailed info man.

Tether sucks!

#AIR-CLINIC

As alway great informative content. I 100% agree with this . SBD is the best alternative and I believe one of the most secure strategies you can have . Especially with the so called 30 million dollars missing from USDT I believe it’s a not only safe but also a very smart move . Thank you for this content!

Wow such a big post.You are really dedicated to this work.Keep doing what you do.

I always hodl some Tether - like 25% of my awesome crypto wealth...

Was checking stuff about it and it really seems like a fishy thing - I feel tho it will never happen that "all people would want to cash out at the same time".

30 million stolen, yes. All cryptos are stolen time to time...

Screenshot_2.png

Market cap is huge - and if they print the damn thing I'm sure it's not a problem if 30Ms disappears, right? I dunno...

Thanks for the cool post - Imma put some Tether into BTC now and what happens happens lolz

CHEERS! STEEMBLESS!

I like you post. I can steemit.

Good information for me is newbie..
Very more get better if we can exchange in bittrex.
Because in there can be price to expensive than others.
@jerrybanfield

One of the Longest Post I've ever read on Steemit

Nicely Explained

Also, Thank You,

Reading Such a long post made me Sleepy and I really needed that ;)

Good Day Brother !

Important tropics and writing skills is very good.

Very intresting read! I subscirbed to your youtube channel after this!

how do you predict the price of steem forward, how much $ steem price in the future.

Damn SBD IS A BETTER CHOICE

Very helpful insights on SBD versus Tether. Thanks!

Anyway SBD can be an alternative to USDT,, but personally I can not see it coming in the near future,, SBD could reach $100 but USDT is always playing between $0.95 and $1.02.
this was a great article indeed.

Great explanation here @jerrybanfield! I am loving SBD right now of course. Anyone who can support my blog would be greatly appreciated!

I hope this USDT bullshit comes to an end. Its great on the sideshows and must have a lot of user base given its purpose, but this thing has hurt the crypto market and will keep on hurting it. Its not even a cryptocurrency, it should not even be on coinmarketcap!

Thank you for your wealth of information. Will surely read through.

Yeah!, lets keep putting gas to SBD rocket!... Man this is getting crazy... Looks like a wealthy Christmas for steemians!

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Soooooo...do you think it's best to not take the sbd and buy steem?

Peace.

Hi Jerry, Thanks for the information. You convinced me to forget Tether immediately.
Actually I didnt hear from it before, and that was good in this case.

What exchanges do you recommend that’s you feel are less vulnerable to a crash?

Why are you creating a post where SBD is around 2$ when it is for nearly a week or longer at 10$+ dollar?

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Thank you for your time and passion. Your work is for sure very helpful;)

Thanks for this post @jerrybanfield. I really enjoyed learning about Tether--and I also agree about bitfinex--seems a bit sketchy they are tossing out the US based customers.

As bitcoin rises there were many cryptos came in which is very sketchy, not real and scams. I would not either buy tether.. Steem for the win!

Thank you for explaining this! i learned a lot, and this is really important information in so many ways!

and i just love how your $10 prediction was spotted by a few people who commented.. it may not be exactly Steem, but in a way its even better like this! ;-)

I just wished that u had known more about steem last year, at this moment i won't have need any job whatsoever.
I would but a whole lots of steem, power up and curate, curate and keep curating quality so as to enrich the authors and enjoy my little curator payout.
The current price of sbd would have made my investment worthwhile but then i came to know about it too late.

However, I am waiting for when the price of #SBD will be 1sbd is higher than $30 usd and steem is just 1 steem is equal to $2 usd.
I will simply borrow money to buy more steem, and power up to achieve the objectives as stated above.

great post as always Jerry. I still await your advice on which best and free asian exchange helps a new coin grow. thanks for sharing this info and it seems steem dolar is crashing back to its former level. hope it rises back high. thanks once more

Hi, @jerrybanfield, I think Steem dollar is a really good alternative to all the Tether holders. We will see it growing even more during 2018 with all the good additions to Steem and the ever-growing community. Hold SBD is now safer than Hold Tether. Hopefully, Tether holders get the word. Thank you for all the infos.

I am positively surprised to see that you are not spamming eight posts a day like the greedy whales or accounts with trails.

You must be spamming with your alt accounts then.

Sayonara!

May be. Lets see what happen

Buenos días @jerrybanfield te felicito por como nos explicas por detalle toda esa información, sin duda has puesto más que empeño en este contenido.

Congratulations @jerrybanfield!
Your post was mentioned in the hit parade in the following category:

  • Upvotes - Ranked 2 with 667 upvotes

I decided to vote up your post and voted you as a witness. I will buy some more Steem. Aparently Jerry is going to change fiat for Steem for people.

@jerrybanfield You bring up some really good points. I had noticed that bitfinex is ending support with the US and a lot of icos do not allow us investors as wel.

I post the following to your youtube video and thought i would have a better chance of you seeing it here.

Well, i must say i almost past your videos up and i am glad to say i did not. My first video you gave away $1500 in votes. Because i was trying to learn the voting system i figured what the hell and watched it. Great Job, when i was done watching i totally understood exactly what is and how it works. i been on Steemit for a few days and know i am thinking i will watch more of your video's to figure out other features of the wallet. Sorry to say i doubt i will be making content you like, but if you have time i would love a simple upvote for a few pennies. Start Small right? Anyway we are gamers but not video games, we do board games and miniature painting, as well as host local board game and miniature swap meeting every 3 months near seattle. My steemit is: oopgamesandhobby I'm not looking for anything but a few pennies upvote, i want to get my account solid, so when my gamers join steemit i can toss them a bit of Voting power to keep them excited about steemit. But i am more then happy to go nice and slow, i can just think of so many ways to bring new content and painting contests to steemit. My idea's are bursting......i just hope i can watch more of your video to learn the site well. after 8 years on youtube, you are my 8th subscription. So i must say, job well done and do not stop.....i learned more from you then any other steemit member. Game On...

Tether is a great idea but it seems they're not living up to it. Thanks for pointing out the U.S. customer situation! That's really shady.
If you look at wallet value in Bittrex and you have all your money in USDT, it shows the value of $0

Can we have an easier solution for newbies dummies like me? This is way too hard to understand O.o