You are viewing a single comment's thread from:
RE: The Buying Side of Steem Dollars on July 4th? How do we clear some of our Steem Dollars?
Lets hope people don't get desperate and try to sell their SBD to STEEM to BTC. That's exactly why we have SBD so everyone can relax and stay within the ecosystem. We should try to make sure everyone is aware of this, and that we maximize our personal and collective benefit by holding or spending within the system.
I would love to be able to buy t-shirt and other steem gear like there was for bitshares. Someone may be able to make a few dollars by offering products for SBD on that day.
what would be ideal for you? SBD > USD liquidity market? Why would people feel the need to buy SBD directly?
That's what killed bts, the btc to bitusd market they setup on bter. There was no reason to buy bts anymore...
That's exactly what I was wondering about when I asked: "Is there any actual correlation between BTS valuation and creating bitAssets?". I was suspecting that the BTS valuation didn't rise as expected when creating and trading bitAssets.
Do you think Steem will have this problem too?
Sorry, I don't quite understand. I think you get rewarded in SBD, so there's no need to buy. Ideal for me as a future SBD holder would be to pay for services or goods directly with SBD. As for people interested in capital gains they will most likely be interested in buying STEEM or SP with USD or SBD depending on what you have.
My main point in my previous reply was that I hope people don't realize/liquidate/sell their STEEM/SBD unless necessary because it will put downwards pressure on STEEM. If the reason to selling is that you don't like risk or volatility, why not just hold SBD.
some people may want to cashout some of it and that's the point. If there are no buyers for those SBD, how are they going to liquidate? (For me, part of it would be to invest on a business built on steemit for example.)
Can you try to pay with SBD? That would reduce your need to liquidate, and it would also support the value of your SP.
@ash (can't reply because we are at max reply depth): Yes there will be an interest rate. It think it is planned to start at 10% and adjust as needed.
There will definitely be buyers, unless the system collapses altogether. The blockchain will exchange your SD to Steem at a rate based on the price feed. That takes 7 days so the spot price may be lower, but if so then people can make an expected profit buying your SD now and waiting the 7 days, meaning the spot price should not be much lower.
Hey, now I understand your point :-). You are wondering if there could be a direct market for SBD:BTC or SBD:USD, instead of the two phases of SBD->STEEM and STEEM->BTC; and where thy buying side would come from. I guess that would be a problem, because as you said, who would need to buy SBD. I think it's better to have people buy STEEM, as a SBD:BTC market could be bad as @bbqbear pointed out. Even better would be if people tried not to cash out, but try to make others accept SBD for payments. SBD is as good as the cashed-out-cash, isn't it :-)
I would need some cash to pay for employees who are most likely not going to accept SBD...since they are going to be freelancers who need to pay the rent. That's the #1 reason why I would need to liquidate some of it. But unless the buying side is strong enough, it really will hurt STEEM if too many of us cash out :-/