Hello Steemit Friends,
I want to talk with you of Steem Dollars bullish trend (up trend) and how this will impact on steemit community.
Those are only my comments, you could agree with me or not, but it will be interesting discuss it together.
SBD AS PEG TOKEN
First of all, how come the SBD price reach $3.20 if it's a "peg token"?
PEG TOKEN means that is supposed that SBD will worth 1$ because it was decided to fixes SBD exchange rate to US dollar currency with ratio 1:1.
But we are in a free market and the price is the result of supply and demand. The more SBD supply there is, the lower its price; at the same time, the more SBD demand there is, the higher its price.
That is the first point: the price of SBD is so high because there is a lot of demand of it.
In fact SBD are produced only by author rewards when we write a post and the quantity of SBD in circulation suffers from the fact that more authors convert his SBD in STEEM or STEEM POWER effectively reducing SBD available or posts not earn enought respect to the demand of SBD.
Whatever the reason, in this moment there is more domand of SBD than supply... But is only a occasionally event, the price of SBD will soon reach the fixed exchange rate as you could see on the chart above.
STEEM GROWTH LESS THAN SBD...
I think that STEEM and STEM POWER are the true expression of Steemit growth. While SBD is a PEG token, STEEM or Steem Power are tradeable tokens and can go up in value like other cryptocurrency.
STEEM price is now 1.33 which is a lot lower than SBD price. This suggests is on-going a big speculation on steem dollars.
GREAT OPPORTUNITY TO INVEST IN STEEMIT!
With SBD so high valued, i think we have the great opportunity to growth faster than usually in steemit community.
Converting all SDB in our possession to STEEM POWER!
SP give us more control over post payouts and allow us to earn more on curation rewards.
To concentrate on writing good or excellent posts!
That are useful, original, funny or personal... the important thing is who appeal to those users with high SP and who can grow faster your post payout. In fact With SBD over $3.00 it's like you earn three times more than SBD near to PEG ratio.
MY THOUGHTS ON STEEMIT COMMUNITY
I wish to say that I support steemit community with all my strength. Here you could find my contribute to help newcomers and minnows and to combat to combat the scourge of spammers and trolls:
I firmly believe that we will see an exponential growth of our community, but that there're certainly problems to be solved in order to speed up this growth.
Even now, we assist at:
- users who buy upvote regularly
- users who upvote their own comments
- users who upvote each others
- users who abuse of reward pool
That are all form of abuse against which we have a duty to combat and find solutions.
We make our own luck, so unite, and we will defend our community.