Steem is About to Rise
Another short, and not so timeless post.
This one on the more useful end of information.
The SDB just collapsed on Poloniex.
Noting: SDB is another form of put options for Steem or SteemPower against the USD.
Steem should be on its way up soon(at least up relative to the USD).
This is kind of a bummer for me though because I wanted to buy some Steem myself.
What do you mean SBD just collapsed? I'm seeing it trading at around 0.8 USD, just like it has been for several days now. There was a tiny little dip, but I wouldn't call that a "collapse."
Your right, "collapse" was an extreme word to use(that got your attention) , the source of the dip is simply the sudden rise in BTC. But I say anything less than $0.90 USD is a flag for a climb in Steem Value. BTC set to go to 700 is moving all the markets.
It did get my attrention. Which was wasted, for both you and I. You need to find a better way to monetize my attention. :)
Buy some steem then ;-)
I do not understand the reason it should go up now in particular.
SDB is a promise by the Steem Network that a user will get $x worth of Steem.
If people are selling off SDB than the $x worth of Steem in the future must not be that much(the relative value of the $ is dropping).
Another way to look at it, if Steem fails to rise in value and SDB also keeps dropping an infinite loop of ever increasing the amount of produced Steem by the network will disable the Steem Network. I'm assuming that is not going to happen(Dan and Ned have set money asside to stop such a devaluation).
You can now see Steem rising, just as it did on the 29th in response to the drop of SDB on the 28th. This trend will exist to the point SDB can return to within 90% accuracy of the dollar price (90 cents).