Steemit from the investment side - thoughts and general musing.
The opening day of this steemit account was December 18th 2017.
The price of steem basic dollar (sbd) was $12.62, now from an investment point of view let us say - if I had bought $10,000 in real monies worth - I would gave got 833.3 sbd.
If I wanted to on this day 16-03-18 cash out that 833.3 sbd after 3 months, it would now be worth $1833.26 in real money. Not a very good return is it my friends?.
I thought at some point in time the sbd was being pegged to the USA $? Interestingly though, if I had bought $10,000 worth of steem it would have been a whole different story, as steem was priced at $2.56 on the 18-12 and is still $2.05 today, so that loss would only be small, and maybe correct anyway by next week.
The only problem with buying steem is the temptation to lock it up in steem power, which we all know carries a penalty of 13 weeks to withdraw, making any massive steem price gains in a single day impossible to cash in on instantly.
Making steemit appealing to investors.
Would pegging the sbd to the US $ not be more appealing to investors? it would to me at least, as I would be guaranteed to get back out what I put in at the very least, and interest on them sbd would have been earned by any payments coming in from my blogs on here.
More interestingly the sbd could be pegged to any $ that a country uses, like the Hong Kong dollar for instance would do for me, as you get HK $7.84357 for 1 USA dollar, making investing small amounts even more attractive, and the more investors the merrier.
As @dan is busy working on his next blockchain social media platform, I do hope he is taking all the lessons learned from steemit, and making a site with more flexible investment possibilities, for fish of all sizes, and while you are at it dan the man, do away with names like whale and plankton please.
As always let me know your thoughts below. Peace love & respect to all.
Images courtesy of pixabay and open to fair use.
I understand. It was confusing at the beginning and still confusing to a point. I’ve had to cost average a lot of things and Steem is one. It makes sense to buy steam right now cheap and wait for it to go up.
I exchanged 3000 dogecoins for sbd early days on here, was it worth it ? yes, I can easily get them back in a day on here, I would not though throw a load of btc in here for exchange, though that is just me, others may and do.
I used Ether and Litecoin when it was low I’m on Binance now so I can buy there —
Sounds good to me, and nice to meet you, I added you to my following list, as I do with anyone that passes by now.
Thanks and I’ve done the same! Nice to meet you too -
I personally don't like the idea of pegging SBD to a dollar. If you do this then there is absolutely no reason to invest in SBD unless you are using it to park money when you think the markets are going to take a serious hit.
Allow the free markets to do as they will.
They were supposed to be pegging the sbd though, I agree in letting steem float, though for investment purposes if the sbd was pegged, you are guaranteeing a safe return on at least one part of steemit.
The peg was only on the downside. There never was an upside ped.
An even money exchange isn't giving any sort of ROI, that is $10,000 in will always be $10,000 out with a pegged SBD. So unless there is a built in inflation factor nobody would even consider investing in SBD.