Fire sale of Steem!
Well did not think this would happen but the ratio is now at less than 0.15 between SBD to Steem. That means 1 SBD will get you almost 7 Steems! What is the point to use upvote bots anymore? To any steemian who held out to convert SBD to Steem you guys are geniuses. Did not for a second thought this was going to happen but its happening.
Interesting to mention the volume at this level is only in the hundreds so I do not think a lot of other steemians thought this would happen too. Also considering a few days back there was decent buy volume in the 0.3 thru 0.5 range have all but likely gone thru. Not sure how long this rise of Steem and SBD will continue, but remember SBD is pegged to the dollar so it has to in the long revert back.
@happychau123 has been a big seller of SBD. I am not sure why but for past few days have been selling his amount of Steem as SBD continues to increase in value. Maybe he plans to power down and cash out?
Even in his wallet there are decent size transfers and deposits with bittrex.
Definitely not criticizing the member or flagging him in any way. Just curious as to why do all that?
On the flip side you have member like @teamsmooth-mm just buying into this fall.
He is trying to profit off the ratio buy selling SBD at a lower ratio and buying SBD on a higher ratio. Either way he is making a ton of steems with current buys.
I really wish I understood all of this!! I’m sure I’ll figure it all out. Thanks for sharing this tho!!!
I can see you are a new member on steemit. Welcome.
Simplify this a bit for you. Currently steem prices are rising. Yet so is SBD. When writers post an article they earn by 75% of the money value of the post at the end of 7 days after they posted. The earnings by default is broken 50% steem power and 50% SBD. steem power is vested into steemit and you can't easily move, but you have higher upvote payouts. SBD is the crypto you can use to exchange immediately. The steemit system is suppose to have the SBD pegged to the dollar, so 1 SBD to 1 USD. Yet currently outside markets are pushing SBD up faster than Steem therefore any earning in SBD is a increase if converted to steem.
Also steem is a liquid asset so can be moved around immediately. Long term believers of steem would use them to power up which is put it into steem power. 1 steem = 1 steem power. This will never change no matter what price steem is. The key is to have a lot of steem power to earn more when you make an upvote.
Apologies for the long ass talk. Trying to help fellow members. I too do not know why the SBD and Steem are rising at their current rates. I am posting it to discuss and record present day occurrences. If you read my past few days posts I have been buying into this everyday, but as you can see today was better than yesterday and the day before and so forth. There seems to be no end to this.
So as a newbie... what should we do with this information? Buy Steem on an exchange? Buy SBD? Buy Steem Power?
If you have SBD convert them to Steem. You can do all this within steemit. Go to top right of steemit wepage. Click on the icon with lines and it will expand with list of links. Click on "currency market". That is where you see SBD to Steem and vise versa get traded. You can then move the steem into steem power by power up. Remember if you invest long term in steemit you want a ton of steem power. Hope this helps.
I've actually only got 0.052 of SBD from posts (it's my first week) at the moment so probably not worth it just yet.
That does help... so eventually I'd like to buy some Steem on the Bittrex exchange, send it over to Steemit and convert it into Steem Power?
@mawit07 payed 4.976 SBD to @minnowbooster to buy a stealth upvote.
transaction-id 927d863516151c1313bd5452edb23c6b6ff58416
@stealthgoat