GK's Steemit SBD vs Steem FLIPPENING
Hey friends,
As we are all familiar with the effects of the hardfork, we often do not have the capacity to understand the effects of such a change. We can estimate and speculate, but the variables are just too large.
SBD has been slowly crashing vs BTC for a very long time. Also the cost of SBD vs Steem was very sharp for the last few weeks. Often 1.4 or 1.5.
So what changed?
When the SBD flippening began, people recognized that there was an opportunity to make money by bringing Steem to the internal market. This was a great choice as it crashed the internal market, allowing people to trade their SBD for a much more reasonable rate.
Lets not panick.
People are playing with the price of SBD and Steem but Steemit is designed to maintain value. There will be some winners and some losers but life goes on. Do your best during this time and try to advance your position. Minnows with cash, it might even be a good time to Power Up!
The Takeaway
Don't make a reactionary move. Steemit is a strong community. It has built in safety nets so we don't lose our account value. Also once enough motivated people get their steem and SBD for a good price, they'll work hard with us to increase its value too.
I just try not to pay too much attention! I keep working away on here
Exactly. Anyone building an account is taking a long position. So I'd encourage minnows especially to take a long position strategy with them to the market.
You are right.
life goes on
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