Did you catch some of that DUMB-MONEY from Poloniex? :D
It was crazy - people totally bought the wrong coins when Steem & SBD was launched on Poloniex earlier today. Not only did people buy STEAMCoin (which is a totally different coin) - But all of a sudden people started pumping the SBD as well which at one point reached parity with steem at sky-high #fomo-prices.
Poloniex deposit was a bit laggy with their 50 confirmations, but what can I say...
IT WAS AWESOME!
Oh, I think I know why some trolls bought SBD at ridiculous prices.
Coinmarketcap is showing incorrect prices for the internal SBD/STEEM exchange. Looks like they have a bug with the SBD/STEEM rate being swapped. (it's 3.5 SBD per STEEM, not 3.5 STEEM per SBD).
Yep I hit one of those :D Market confusion at its finest:
Some people on the Trollbox had no idea what the difference between SBD and STEEM is.
Also I saw some nonsensical prices on ETH-STEEM market.
Very confused. Steem dollars are not trading on poloniex ?
https://steemit.com/steem/@jl777/sbd-at-0025-btc-how-is-this-making-any-sense-i-explain-what-happened-with-the-pricings-today
SBD is trading at a premium to the implied price, but it is not as crazy as it seems
OMG I was a Trollbox enthusiast, but no I was too busy with Steemit what happend!?
But I have been denied from the Trollbox about 50 times at least for even MENTIONING Steemit or STEEM :/
it so was awesome steem coin.... ;0
I could not imagine why SBD was so high! Lol!
total craziness :D
haha I was actually lucky enough to place a really low order that got bought.
Am I the only person that thinks SBD is dumb, period? Makes things more complicated than it needs to be, as we can see from this 'confusion' on Poloniex - All we need is STEEM! I tried to post about this, but it was all-fk'd-up .. will try again. :)
Just wait until the price of STEEM goes down instead, you will be loving the SBD
I was in there watching! I'm not very experienced in trading cryptos but I knew something interesting was happening when I saw trades at prices I knew were out of whack! I don't have an account at Poloniex so I couldn't jump in, and not much liquid Steem or SD in my account anyway. But I hope you made some profitable trades!
lol people are too eager to jump in thinking a pump is coming and they don't even think anymore