What is going on with SBD?
The current price of SBD is $2.45 on Bittrex.
That is more than double the price that it should be selling for.
SBD has a peg of $1.
When the price falls below a dollar it's up to the witnesses to try to get that price back up.
So why has the price risen so much?
Well the price of Steem is currently sitting at $1.26 which is higher than it's been for some time as well.
It's possible that people are just now realizing that SMT tokens and building communities are going to really increase the value of Steem.
That still doesn't explain why the price is more than two times double what it should be.
Last week I was able to make it pretty good profit by trading 148 SBD for BTC when they were selling for $2.12.
Now I wish I had held off and I really wish I had a whole bunch of SBD and in reserve.
As long as you're posting and you don't have your posts set on full Steem powered mode you should be able to make some SBD and you should continuously upgrade it for Steem at double the SBD.
For example I just traded 6 SBD for 12 Steem.
I don't know what's going on with SBD but you should definitely take advantage of it.
Yeah this has crippled me, I borrowed money from the bank of @neoxian, however when I borrowed it was at a rate of around 1-2-1. Now it's costing me twice what I paid, plus interest :-((
Apparently it's because the USDT (tether coin) went sour after a few of the coins were hacked or something. Plus Steem/SBD just got accepted onto a popular Korean exchange and everyone started buying SBD.
The fact is SBD is just a container holding $1 worth of Steem, so all these people are paying over $2 for $1 worth of Steem, it's bloody mad, and usually it would make me happy, but at the mo it is very depressing.
I'm just hoping that the Steem price catches up and overtakes and sanity is restored!
Cg
Well that really sucks. I got lucky and had a couple hundred SBD saved up so I converted them at a great rate while steem was still about a buck. Now that steem is about $1.50 I do think it's going to have a good run here.
I am on my knees praying to the Atheist god that the Steem price overtakes the SBD price, then I won't care. Hell, make SBD $10 as long as Steem is at least $10.10!!
Cg
I've got a few sbd I'm going to hold onto and see what happens. I think it will go higher. I really need to do a better job of tracking this stuff. I'm still new to this.
It's been ballooning off and on since steem and SBD were listed on one of the Korean exchanges. Good times. I've traded a lot of SBD for Steem on the internal exhange which is also trading at 2 to 1 or better right now during the last balloon.
What I understand is that it is not suppose to go below $1 USD but it can go to the moon.
its a informetive post, thank you so much.