SBD UPDATE - 2.50$ Crash
Wow, the SBD is rushing down, like it's a race to the Valley. And i can't say i din't call it, because i did...
In my last post, about a month ago, I said the SBD will go to 2.70$ - and now we are at 2.50$:
Sadly I did miss my chance of buying some STEEM when the exchange rate was at 0.79 SBD - would be a great time to sell some STEEM in the next days. But I have none to spare at the moment.
The good news, however, is that the SBD is getting less erratic. Well, kind of good to be honest.
The waves from the big Bitcoin media hype are getting smaller and tamer. This probably also means that both Bitcoin and SBD / STEEM are moving back to what they are actually worth. I know a lot of people here think that the SBD will be worth 100$ in some months. Well... no. I don't see any reason for that at all. Look at it:
The way this looks, we are going to see some smaller, slower waves coming, but it's probably not that far fetched to say that the SBD and STEEM will settle around 1.80-2$ for several months (6-8 months would be my guess), before slowly rising again and starting to build a more organic growth of value.
Of course, it is important to keep in mind that politics and media can change a lot about that. If Trump goes wild or Asia get's a bump things can change dramatically. We are probably going to see a lot more crackdowns on Cryptos by several governments. Not only for taxation but also about the legality of even having or moving Crypto. So that is going to be very interesting. This might also mean that we will see the first countries talking about creating their own Crypto. Since they want to abolish physical cash anyways, this is basically the best way to go.
My next wild guess
The next peak will be around 3.80-4.00$ somewhere near the end of March.
Side Notes: I would be really surprised to see it go back to 5$ or more anytime soon. Plus, before that peak, it might even go down to 1.50-1.80$
Thanks for an interesting piece. I am still confused on the difference between Steem and SBD. I realize it's supposed to stay in line with the USD. I just have no idea what to do with it.
Actually i have no idea why we need STEEM and SBD and STEEM POWER too. Seems like one of them would be enough. However, as it is now, you use SBD to buy STEEM and that can be "powered up" into STEEM POWER - which in turn will give you more voting power. As a small Steemian it makes sense that you set your Posts to 50/50, because SBD most of the time is worth more than STEEM, so you can buy more STEEM with it. Also, if you buy or sell STEEM, do so using the Market Place, NOT Blocktrades, as Blocktrades will always give you a worse price. Go here to sell and buy (you can set your own price and there is no fee, because it's part of steemit.com) https://steemit.com/market
Oh crap that's what I've been doing, How do I buy from marketplace? With what?
I got some at 2.40 I just didn't know how else to do it--
on the left, where it says "buy steem" you can set your own price and the amount of SBD you are going to put in. it will show you the STEEM you will get. then you click on "Buy Steem" and it will put in a buy order for you, that can take some time to go through, depending on what price you set. Set a price that is a little lower than the price suggested. Also maybe wait till it goes down to 0.82 SBD per STEEM, because right now it's pretty high. might take some weeks though
Thanks but what do you buy it with?? Meaning, bitcoin?
no, with the SBD from your wallet. The SBD you get from upvotes on your posts
I see ok thanks! I get it more. So much to absorb here.