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RE: DON'T 100% POWER-UP - I THINK YOU CAN MAKE MORE STEEM POWER BY NOT POWERING UP 100%
As long as an SBD is trading for more than a dollar, you should take the 50/50 payout and then trade the SBD on Bittrex or wherever, then you get $2 for every SBD as opposed to 1. You then buy more Steem with proceeds from the SBD sale.
Which should add more sell pressure and help lower it back to peg levels but people just keep buying the damn thing for more than a dollar. I suspect they have no clue what they are buying and are just speculating on cryptos in general and playing the charts.
I had that exact same thought about people not knowing what they were actually buying. It had occurred to me while I was reading the whitepages SBD section that I remembered seeing that symbol trading higher when I first started paying attention to crypto.
Agreed! Feels good to be a gangster!
This is actually really smart tactical economical genius
Well, I didn't like the 50/50 option at first until I realised that the "convert to Steem" button takes a 45 premium... Which sucks...
As long as SBD is above the $1 mark, you will lose money when using the Convert to Steem button. Back when it was less than a $1 converting to Steem was a profitable trade. Now the profitable trade is to sell your SBD on external markets. I use Bittrex.
Thanks, but why is it trading above 1 USD? This just makes no sense to me...
There are mechanisms that are supposed to keep it near $1. Earlier you would have gotten 10% on a Steem Dollar if you held it. That kept the demand up. And for a long time, payouts were in Steem and Steem Power. Now payouts are in Steem Dollars in hopes that there will be selling pressure on them. But it seems speculators are doing a lot of buying. But in the meantime, if people are doing the math, SBD can be very profitable if you know which direction to trade them.
And currently RIGHT NOW, the most profitable thing to do is to sell them on an outside exchange.
When the price goes back down, the strategy will change.
I'd suggest to do a post on this, but, I don't know, it's nice to have the edge on the market, too ;)
supported!
True
Right, SBD has been rifing high for a while now. I just don't 100% power up, so I didn't think of this until now, figured I should share.
Good thing we have observant steemians. I'd have missed it otherwise.