Do Not Sell Your Steem Dollars
Steem Dollar (SBD) is at minimum price according to its design. If you do not know, SBD is pegged to be worth approximately one US Dollar ($1).
However, it is a listed digital currency in cryptocurrency exchanges like Bittrex and Poloniex therefore is prone to price fluctuation as per demand and supply.
Right now, SBD is priced just under a US Dollar on both of these exchanges ($0.9892 at the time of writing). According to the price valuation structure of SBD, if it goes below $1, it jumps right back to stay approximately equal to one USD.
So, it is not going anany further probably. But due to being listed as cryptocurrency, it cannot survive the t conditions and may go even further down. But, it will come back to at least $1 price soon if that happens.
What you should remember is that SBD went up to $2.78 on Poloniex and $1.89 on Bittrex just a week or so ago. And it can go back to that point again as well.
Do Not Sell!
Therefore, you should not sell your Steem Dollars right now because the price is at the bottom right now and will rise soon. Furthermore, the Bitcoin situation may get the price even below the current level. Do not panic. Do not sell.
It would be rather if you BTFD (buy the dip) meaning buying SBD when it is rock bottom so that you can get massive gains on it.
And Do Not Panic!
In any case, do not sell and do not panic. Keep your Steem Dollars in stock and wait for the right opportunity to make the best use of them. The best use of SBD in my opinion is to buy Steem from Steemit market and then Power Up using that Steem.
Resteem this post to help others who may sell their valuable assets at huge loss due to the panic that is surrounding the marketplace.
Thanks for the advice! I just transferred some btc into my new bittrex account and will make a trade asap!
Great! You have your investment in the right shape at the right place on the right time. Having BTC on Bittrex is the best thing to do right now. As explained in the post, SBD is sticking to ~ $1 price. A price tag of 0.0004000 BTC on Bittrex or any exchange means roughly $1 as per current BTC rate (which is also falling). The current price is just under $1 (0.00039100).
See if it goes lower than that. The opportunity is massive I think.
Darn, I wanted to use them to power up my steem lol
I will use them when I see the right time (and price to do that).
True, ill just keep picking up a few every other day :)
Good luck!
I HOPE SO!!!
Let's see
Yeah, it will go up again so I'm not worried. I'm building up my steem power for the next few weeks anyways.
Steem is also taking a hit. I don't know where it will be come end of July but if it's rock bottom, I too am going to invest in Steem to power up.
I'm converting my Steem Dollars to power up, does this sound sensible to you?
It's a sensible decision but the timing is not right due to price dynamics at the moment. Someone else asked the same so here's what I said.
No no for me at the moment. The best time to buy Steem was when 1 SBD was buying almost 1 Steem some days ago. I misses it by $0.03 and my order is still pending. Right now, for every Steem you need to pay 1.58 SBD which is quite a high price. I would buy when my SBD can buy MORE Steem. I hope you understand.
On exchanges too, there's difference of 0.00020 BTC in price of Steem and SBD right now (1 Steem = 1.66 SBD) so it's a no no for me.
Steem is taking a hit right now due to blood on the market. If both level, I'll sell SBD to buy Steem.
This sounds perfect, thanks.
You're welcome.
What about buying STEEM with them?
No no for me at the moment. The best time to buy Steem was when 1 SBD was buying almost 1 Steem some days ago. I misses it by $0.03 and my order is still pending. Right now, for every Steem you need to pay 1.58 SBD which is quite a high price. I would buy when my SBD can buy MORE Steem. I hope you understand.
On exchanges too, there's difference of 0.00020 BTC in price of Steem and SBD right now (1 Steem = 1.66 SBD) so it's a no no for me.
Steem is taking a hit right now due to blood on the market. If both level, I'll sell SBD to buy Steem.
I normally just sell mine off directly for steem on the internal market and then power up. But I'm going to collect it now because I also agree, there is absolutely no sense in selling it now, while demand is so low.
Thanks for the feedback.
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Were is my gif of me panicking? :-p
Haha! It's not found. You've probably figured out that panic is not a solution but a problem.