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RE: It's time to SELL SBD instead of powering up
STEEM started to grow so fast, I thought it's gonna surpass SBD.
But now it doesn't look like it's going to happen soon.
Anyway, that was a good insight.
Don't you think that STEEM being high is good for you as your upvotes have become stronger ?
I really enjoy seeing my votes actually worth something! But since I'm not taking money OUT of the system, it isn't helping me nearly as much as when Steem was low and SBD was high. My intention is grow my SP and at the rate of exchange now I can only buy 1.2 Steem for each SBD. Mind you, I was paying 1.5 SBD for just 1 steem not all that long ago, so it is still pretty good. The big question now is: Am I earning SP faster than before or not? I suspect with bigger votes from everyone, I SHOULD be earning more than before, but since my earnings jump up and down all over the place, it is not so obvious if it is benefiting me or not. For sure I'm earning more SBD than before, but I'm also earning less Steem. By the time I convert it all to SP, I'm no longer sure.
Now it sounds much more worse !
I guess, it can't be helped !
But are you sure you don't want to cash out even a little amount ? All those hard works and no cash in hand ?
In my case, I had to cash out to keep myself from running away from steemit.
But, Now, I wish I had turned those SBDs into Steem power.
Absolutely NO. I do not want to cash out anything. It is already hard enough to get to the Minnow stage. As more and more people join the community, the reward pool gets divided into smaller and smaller rewards, so your growth will get slower. Added to that, each year the inflation rate for Steem is reduced, meaning the supply of new Steem becomes less (the reward pool gets smaller). This will also make your growth slower. When the price of Steem goes up, it will cost you more to purchase it, again slowing your growth. The sooner you gather your SP, the more Steem you have to increase in value when the price of Steem goes up.
Let's say you collect 100 Steem and then the price rockets to $100 USD. You would now be worth $10,000.
But if you managed to collect 500 Steem instead, your account would be worth $50,000. That is $40,000 extra for just collecting an extra 400 Steem. The more you start out with when Steem goes up, the more you gain!
Once you have $50,000 worth of Steem, you can easily take out the $400 and hardly fee the difference. But taking it out early means you really do lose a lot later!
If the reward pool gets smaller, won't it affect the curation award ?
In that case, we should rather hold on to the Steem rather than cashing out or powering up, don't you think ?
I think the price of STEEM and Steem Dollar is far from their potential !
It will drop a little bit and then by the end of the year, they will be worth more than now. That's what I think.
Keeping the SBD or selling the SBD, I wonder which is right at the moment !
Yes it will. Overall, everyone gets less. That is why I will not sell and am holding on to every little bit of Steem I get. Powering up just puts your Steem into a safer holding place (and gives you greater vote value). No harm there at all.
ONLY if you want to sell or need to sell SBD, then now is a good time. Otherwise, as you said, it will go up more, so hold onto all you have. As for converting SBD to Steem and SP, you can try to guess when to do it, or just do it as you earn it and 'cost average' it. In other words, sometimes you will gain and other times you will lose, but overall, it will average out. If you try and guess, you may gain more or if you guess badly, you could lose more. It is a gambling game.
Yeah ! I hate gambling though. :D
I will take up your suggestion for now. :)