Steem Dollars Flippening: SBD is Now Worth More Than Steem Itself
Heads up To Those Selling off Steem and not Steem Dollars, SBD is Worth Way More!!
Right now I just did a little market compare between Steem and Steem Dollars, oddly a weird flippening is going on where SBD is higher than Steem.
Currently on Coinmarketcap.com
Steem Dollars (SBD) $2.10 (34.92%) 0.00089102 BTC (44.02%)
Steem (STEEM) $1.50 (-23.28%) 0.00064008 BTC (-17.88%)
Currently due to the market issues with Bitcoin being a drunk lunatic with no balance, Steem has taken a hit towards a downtrend but it appears Steem Dollars are holding strong. So if you plan to take profits, the clear choice right now is to cash out in SBD if you want to bank on cheap Bitcoins and if you want to Steem Power up its wise to buy up that cheap Steem at the moment.
May you guys bank well during this moment, figured pass this along to those not keeping up with the crazy markets at the moment.
Thanks I was just wondering about this actually. So does that mean it is better to convert SBD to steem or to go to the internal market?
It all depends on your end game. If your selling off for Bitcoin then sell of as SBD, if your wanting more Steem Power I would use the internal market for faster conversion of SBD to Steem then power up. Its all in your end game on this
Going for the power up lol. Thanks for the advice!
I am too, I do cash out some 50/50 earnings to pay bills but I am more about getting up in the game here lol
I think I might just do that actually. I should have stacked some sbd for a minute before turning it into steem but you never know.
I tend to hold onto SBD unless I tend to go for Steem Power, then I just use the internal market for faster conversions. I am wondering here why SBD survived so well lol...killed Steem but SBD rose, hmmm I guess I better keep sticking to holding on SBD then
Yeah I guess I'll start too. That's what Ive been doing using the market to buy steem with sbd no matter the price right when I get it.
Wise way to do it, I think all of us should think ahead when it comes to Steemit, that power up is important
Yeah Ive been regretting powering down I would have been sitting a lot higher had I not and getting a lot more exposure I am sure.
We all make decisions, no reason to regret just power up and catch back up. I haven't had to yet but life has a way of making you do things and hoping I won't have to power down at some stage
Thanks for the practical advice. I want to go for more Steem Power!
Best thing to do then is trade in the internal market here from SBD to Steem then power up that Steem. How I tend to do it
Thanks for the advice!
Anytime my friend
Really solid advice, especially for a newbie
Thanks a lot.
Always here to help, its odd though its usually the opposite lately lol...Steem is usually higher but I guess we had SBD stay strong this time. Need anything I am always here to help
Hi nice post. Is this usually the case when STEEM sells off? If so from a trading view it seems best to hold SBD during declines in Steem then cash out SBD to buy cheap Steem or power up
This is not usual actually. I watch the markets a lot and usually Steem is up but this time SBD rose and Steem went down with BTC going down. SBD is useful in two ways right now, get a bunch of Bitcoins while they are cheap or get a bunch of Steem while that is cheap. I use the internal market to trade SBD to Steem for power ups...and use Blocktrades to cash out for Bitcoin to my Bitpay account and card. Its all in your end game. Don't think it will stay like this but anything is possible lol
I am new here but based on what your saying the internal market is a better way to buy Steem rather than converting SBD to Steem. Ok I will give it a go. Never tried blocktrades before was thinking of doing it via coinbase. Thanks for your advice
No problem and welcome to the community by the way. I mainly use the internal one because it saves on fees from running all over the place and Blocktrades because its just as fair as the exchanges but more a faster route to my Bitcoin wallet, I am lazy lol.
Hi there @sflaherty
Yep, I noticed the SBD was at $2.40 3 hours ago. ($2.00 Right now) But, ¿Did you notice that both exchanges Blocktrades & Changelly none of them were reflecting that $2.40 SBD marketcap exchange rate to obtain this same equivalence in BTC? So I had not choice but to abstain from performing the operation even needing to convert some SBD to BTC at that moment.
Didn't really notice that, I been mainly just powering up and wish I seen your comment about 10 minutes ago, just sent off some of my SBD to Blocktrades and I confirm, way less then $2...got kind of screwed that time but not by much, think it averaged about $1.80 on that move. Its alright though, their system tends to be a little behind so I take it into account. I should make it back up when BTC recovers.
Glad to be of some usefulness about that issue mate. We will have to be more attentive to those details in the future. And if you find out about another exchange different than Blocktrades & Changelly reflecting the same exchange rate as the Steem Marketcap instantly, please let me know. Since I need to convert a few SBDs to BTCs very soon. Cheers!! :)
I tend to use Bittrex if Blocktrades doesn't work too well. I haven't checked if Shapeshift does Steem Dollars but they also may do that. I tend to price check a lot for the just in case factor, never know when its way down and your taking a loss without checking your numbers from time to time
great post and thanks for the infor :)
Anytime buddy, kind of shocked me actually lol...to see it so stable and hung in there during this downtrend and out beat Steem itself for once is rare lol.
Nice catch! I was playing around on the internal with some buy and sell orders on what I thought were extremes. Not extreme enough apparently... need to get set up on bittrex I guess. Resteeming!
Actually I have found using the internal market saves me a bunch of money, the fees of moving stuff around seem to get me worse on exchanges vs the internal one. I could be wrong though. I am just lazy and its usually just trading for change when I use the internal. I use that and Blocktrades to get it out as a BTC sale to my wallet. I love Bittrex but a few issues hit me the last few times I went there and there 2FA stuff keeps not working so I been locked out of my own account, complained but no response so I am out of there and Poloniex lol.
Aha good to know they all seem to have issues apparently!
They just do as they wish, no real monetary regulations so its still kind of wild west out there lol
It is a good time to buy Steem and power up!
Very great time, so glad I caught that one lol...been buying it up like crazy, between BTC and Steem, this is the best moment
Useful tips, @sflaherty! Put in a small order. Btw, the real use of SBD as I understand it is for cashing out, isn't it? It can also be used to buy Steem or other cryptocurrencies. Are there further uses that I'm missing?
Really SBD is to create a stability in the market for Steem, a second option to buy in and out to take heat off just Steem. You can use it either way, right now both options are more valuable to buy in sell as the market has SBD the higher of the two. No other uses other than that, buy up Steem or Sell to Bitcoin to cash out or buy something else
I see..thanks for explaining so clearly @sflaherty! I understand better now :)
Good, here to help, never feel bad about asking me anything...if I don't know it I will ask someone for you, rather we all know the system and learn as we go versus not knowing and lose money or not get what we are worth
Thanks @sflaherty! Same goes for you..In the rare possibility that you may lack knowledge of something that I can add value for ;)
Thats a deal....trust me I am not with knowledge on it all lol...I just retain info I guess well if I read it, so google a lot all day long lol. If ever I need help with anything I shall remember that one
As Jessica Savitch says, 'For every two minutes of glamour, there are eight hours of hard work.'
And as Bruno Mars says, 'You can count on me like 1,2,3..' :))
Very true, you seriously have to work hard for those moments of true accomplishment. Great quotes