Why would SBD go up as it is just $1 worth of Steem. And Steem or Steem Power are real worthy tokens for the platform. How can $1 worth of Steem be worth $6. Am I missing something? What is the reason to buy Steem Dollar in secondary market?
Because SBD is listed along with all other Crypto Currencies - and people are just buying whatever is moving up. IOTA, EMC2, SBD, Steem .... not wanting to miss out on the next BTC
I know it makes no sense. @offgridlife is probably pretty close to the mark though. Some of it could even be confusion by people that don't understand how Steemit works and think that SBD are the same as STEEM.
It's a good time to trade SBD to STEEM though as you get 3x the STEEM.
I think there's a 3.5 day wait to do it on your Steemit account. What if you trade 1 SBD, then 3.5 days later it's only worth $0.90 USD. Wouldn't you feel rooked?
I would. You can trade it on Bittrex though in real time. It isn't that hard to transfer there just make sure you look up how to send your SBD to Bittrex in the search box on Steemit. I also always like to do a small test transaction the first time I do something.
SBD was up to $13 on Bittrex last night. I will post a screenshot when I get home tonight.
Why would SBD go up as it is just $1 worth of Steem. And Steem or Steem Power are real worthy tokens for the platform. How can $1 worth of Steem be worth $6. Am I missing something? What is the reason to buy Steem Dollar in secondary market?
Because SBD is listed along with all other Crypto Currencies - and people are just buying whatever is moving up. IOTA, EMC2, SBD, Steem .... not wanting to miss out on the next BTC
I know it makes no sense. @offgridlife is probably pretty close to the mark though. Some of it could even be confusion by people that don't understand how Steemit works and think that SBD are the same as STEEM.
It's a good time to trade SBD to STEEM though as you get 3x the STEEM.
I think there's a 3.5 day wait to do it on your Steemit account. What if you trade 1 SBD, then 3.5 days later it's only worth $0.90 USD. Wouldn't you feel rooked?
I would. You can trade it on Bittrex though in real time. It isn't that hard to transfer there just make sure you look up how to send your SBD to Bittrex in the search box on Steemit. I also always like to do a small test transaction the first time I do something.
SBD was up to $13 on Bittrex last night. I will post a screenshot when I get home tonight.
Am I the only one thinking SBD = Silent But Deadly?
Until I read your comment yes.