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RE: STEEM vs SBD....DO NOT UnderEstimate SBD!!!
While I do enjoy your charts, I wonder if you took into account, for SBD, its technical specifics. There are some caveats about it:
- it's not really a currency, but merely a debt-based smart contract, not backed by hard assets, but by STEEM
- its supply is massively increasing (as I'm sure you already know): it almost doubled during last 4-5 weeks, from 3.5 mil to more than 6 mil.
I'm not saying there isn't upward potential, I'm saying there are a few more things to be taken into account when it comes to SBD.
Steem on!
upvoted for visibility
I think the reason why people pumped SBD is because of its low supply. Obviously they don't know the technicalities for its existence. They should be investing in STEEM, not SBD.
I'll take both. Either way.
Purely from a technical point of view, if not from a profit-based point of view. STEEM comes first, without it, there is no SBD :)
But the only way to make it for someone like me is to "mine" sbd with my blog posts. I can't invest and in fact I take a bit of sbd out every day now. The rest stays in bid-bots, praying for a price increase.
I can't believe my luck to be here. I just came for the alexa ranking to get the word out about my weight loss work. Now it's actual money.
I want to thank you for steem supply. I do not know how I ever got along without it. I use your bandwidth all day over there. I'm going to check on my witness votes soon to make changes and if you are not there - you will be :)
Thanks a lot for your support, highly appreciated :)
What 'sad' is the ones who 'need' to power down or withdraw AnYTHING from #Steemit are the ones who need to keep everything here to let it multiply.
Technicalities and fundamentals are irrelevant to a technical analyst. Besides, just look at EOS. That has a massively increasing supply for the next 6 months yet it has gone up well over 11x in recent months. Fundamentals have yet to apply in this speculative environment!
@grizgal EOS supply was always known from the beginning,so no surprise here. In the case of SBD, its supply rose as a reaction to the recent pump, only in the last month. Initially, SBD supply was very limited. Which was probably exactly the reason it got picked and pumped, relatively cheap to move a coin evaluated at $1, and with only 3.5 mil supply (as it was one month ago).
The one thing that I agree with, though, is that market is always right.
I believe STEEM will grow more than SBD.
Yes, this is the sort of drivel that comes from worshipping technical analysis and being totally ignorant of the fundamentals. It is incredibly dangerous and stupid to do this and Haejin loses a lot of respect here. SBD may rally again but anyone bidding this up to that level is a pump and dump moron.
just a quick note that this is not an attack at @haejin and I really enjoy his charts. But sometimes there are hidden aspects that can clarify some of the TA insights. It was just a heads up, merely driven by the curiosity of seeing an updated chart, which will take into account these aspects as well.
well I started few days ago to study steem a bit and SBD should (theoretically) only be used to safe funds because it is designed to be pegged to ~1$ internally.
in my opinion SBD is pure speculation and there is absolutely no reason to BUY it. of course it can be held in order to protect the funds against inflation within the steem ecosystem.
fact 1: outside of steem SBDs are useless -> no reason to BUY them
fact 2: in steem internally SBD are pegged to ~1$ -> theoretically no reason to speculate on SBD
fact 3: to get SP you need STEEM -> no reason to hold SBD (except protecting against inflation)
in the steem chat I was told that the "convert to steem" option was deactivated and guess why? the value of SBD is worth ~5 times more than it would be within steem. well people can make use of this situation but I absolutely don't get it. SBD is not designed to be a speculative asset and therefore shouldn't be used for speculation.
I am curious about your answers :D
The SBD peg is not a "hard" one, meaning is not pegged with hard cash, with USD kept in a safe deposit. It's more like a "soft" peg, which was designed as "$1 worth of STEEM". So basically it's a debt instrument. The problem with debt instruments is that if you abuse them, the "collateral" is triggered. An unsustainably high SBD could trigger a downward spiral for STEEM.
On the other side, it's true that SBD may be "pegged" to whatever amount of STEEM we want to, that's why I think there is still upwards potential. So in theory (as well as in practice), SBD could be safely "pegged" to "$10 worth of STEEM", or "$50 worth of STEEM", as long as the debt-to-ratio numbers are not too big.
yeah I think I got it now. need to do more analytics and predictions regarding market trend.
the only thing that is confusing is that there are a lot of old entries that describe SBD as a "pegged-to-1$-token"
I do see your point.. but even though it “isn’t an actual coin” it still has an increased value... tat the moment 5 times higher than $1. Therefore , it is good to have it.. not just to fight inflation, but because you can make profit from doing so.
For example: i right now hold 70SBD’s... worth $350 .. but in 2 days the price could very well go back up again to $10 a coin.. and be worth $700 instead. It happened before.. and it will happen again.
It is a risk to hold it... yeah... but it is a risk to hold any real crypto too!
Also, you can’t “?convert to steem “ but you have the market option to do exchange it too. Many of us don’t even use the other option anyway.. since it ends up being more expensive.
Thanks for mentioning again. The war between STEEM cheerleaders and SBD cheerleaders reached its climax
Who cares if it is just a debt-based smart contract or whatever? If it helps to move the price up for STEEM then let it be! 🚀
if the price is appreciating due to misinformation then it will not be sustainable. The market will always figure out the best, most available information. Although Steem should be worth at least 20 dollars at this point relative to the market based on its utility, a 33 dollar steem dollar is not a sustainable fundamental. Cryptocurrency's value are derived entirely from its utility; the store of value argument is a retroactive analysis for particular blockchains that have failed to provide a use case/utility(e.g. payment solutions that are congested, expensive,and not scalable at least at the moment.
I really agree what u said but who know ? Sbd will grow or will go down ? I hope to earn 1000 sbd and start my dream bussines ! Thanks for make us understand steem :)
How can it almost double in a month? I thought Steem had 9% inflation or is that inflation tied to the userbase?
steem isnt doubled, steem has 9%inflation. They talk anout steemdollar -->> sbd, when price of steem goes up so do rewards and you get more sbd's that are created because payout is for example 50/50.
SBD doubled in a month. For Steem that value is just a part of that well known 9% inflation. This is because the rewards from our posts are payed in more SBD than Steem.
sbd doubled which also is an indicator of post payouts. Growing popularity possible factors.