Will There Be Another SBD-Run? 2 SBD Steem Bounty!

in steemit •  10 months ago

Since a while now the price difference between Steem Backed Dollars [SBD] and Steem [STEEM] is increasing. I can remember, back when I started here on Steemit the ratio was about 0.8 (meaning 1 SBD would get you 1.25 STEEM). Checking the trading reveals an even smaller difference in the past (before I joined Steemit). Since then the ratio has increased, at the moment it is 1.4 (meaning 1 SBD would get you only 0.715 STEEM now).

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A few days ago I decided to do some research on why this ratio is changing that much. In my research I found out about the @burnpost account and its vision (trying to pressure the price of SBD to or below $1 USD by downward price pressure on the market by selling all SBD earned by their daily burnpost (at the moment around $500-600 displayed post value each post).

A few weeks back Steemit introduced liquid Steem [STEEM] payouts to decrease the circulating Steem Backed Dollars [SBD]. Didn't followed this much but seems like the circulation supply was reduced since liquid Steem [STEEM] payouts seemed to have stopped one or two weeks after the introduction.

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The chart above shows the current market price ratio between Steem Backed Dollars [SBD] and Steem [STEEM], currently at around 1.4.

  • With the resent downtrend I would love to start a discussion on if there will be another SBD-Run or not?
  • I also would like to know what you guys are doing with your Steem Backed Dollars [SBD] at the moment? Do you save some for a potential SBD-Run?

On this occasion I thought It would be great to try our @steem-bounty for the first time and I decided to add a 1 SBD Bounty on this post (later added another 1 SBD curtesy of @knircky) to further reward good comments.

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I have SBD but I am not converting it to steem; I think it is better to wait a bit. Even if the price of SBD never goes up, I will use the SBD to buy votes and increase my SP that way.
But I think there will be SBD run again. SBD is a crypto, being traded on exchanges, and anything can happen.

I think another SBD run is quite possible. What I am doing with my SBD? I am hodling it for now; Later, I may use it to promote my posts.

Cryptos are quite unpredictable. I think you will be able to buy more and more goods and services on Steemit with your SBD in the future.

SBD was originally intended to be pegged to the USD$.. while STEEM can freely fluctuate and its value depends on market perception.

although it will take a while to occur, it may start to come close to that. there are weeks where the value of STEEM is below SBD, that would be awesome since inside the steemit platform SBD is the circulating currency.. but this rarely happens.

in my case, i use the market (under wallet) to trade between the tokens. or use blocktrades or the exchanges to liquidate.

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Ah ok thanks! Is there any ratio you are saving up to trade between SBD and Steem or do you just trade them at the ratio it is at the point you wanna trade?

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i would usually take what the market offers.. i seldom have a stack of SBD to trade to STEEM.

i also trade bitcoin with altcoins in Binance. seeing that STEEM goes down, i seize every opportunity to invest in the platform. that's more significant to me than the ratio of STEEM to SBD.

The steem price controls the SBD price and currently the steem is traded more on the markets generally...so i don’t see sbd getting a run over steem

I also would like to know what you guys are doing with your Steem Backed Dollars [SBD] at the moment? Do you save some for a potential SBD-Run?

Hi

to me.. pay bots with SBD to increase SP amount.

I for one use my SBD for reinvesting into my steem profile

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And how do you do that exactly? I for myself use the main part of my SBD's to promote my posts (using bid bots for now). Really think @steem-bounty has the potential to be a even better way to promote my posts, since this will get more engagement on my post.

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you can use the built in exchange to put your sbd into steem power

I don't think that SBD will get a run over STEEM.

They both are going to rise in price, but SBD will always stay below.
I think that is because everyday so much SBD is being paid out and STEEM needs to be bought.

i am no expert on crypto and don't exactly understand how this works, but that is my oppinion

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Thanks for your opinion. Checking your wallet I saw you use blocktrades to change between SBD and Steem is there any reason why you do not use the market here on Steemit for that?

I'm not sure if it SBD and Steem will reach parity again. The idea is that one SBD should be one USD. I don't see SBD increasing in value to reach Steem since it's wise to buy Steem with it to power up or trade it for some Ether or Bitcoin on Binance. SBD only has demand because people prefer to have 50-50 post payouts because they believe the SBD amount they get to be worth more than the Steem, but they often convert it into Steem increasing the ratio.

SBD is supposed to be worth 1$. No more, no less because thats what the system treats its value as. I don't really understand how this affects steem price though except for people can use sbd to buy more steem.

For the liquid steem. That is still working, I made some steem along with SBD and SP today with my payouts.

Different person have different opinion.. I think, SBD can't exceed steem again.. Because SBD based on steem. So steem will always high than SBD... @elleok

The SBD is based on STEEM and the STEEM is based on the cryptocurrency market, STEEM is listed on large crypto markets and therefore its fluctuation.

Amigo @elleok, el SBD fue originalmente diseñado para ser vinculado a USD $ ... mientras que STEEM puede fluctuar libremente y su valor depende de la percepción del mercado, espero que sea de tu agrado mi pequeña definición.

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Literally the word by word translation of @dillagr first line in his comment.

great post friend @elleok.

@yougotresteemed has set 1.000 SBD bounty on this post! logo_for-light-bg_1000.png
What is a bounty exactly?

A bounty is money sent to a post to be distributed to the users commenting on it. It provides a way to reward users directly and works in addition to the steem/sbd they receive from the blockchain. It works independently of SteemPower.

You create a bounty by sending any amount of sbd/steem to @steem-bounty together with a post-url in the memo.

How can I earn a bounty Users are then competing for the bounty by writing their answers to the post in comments that will achieve upvotes from the community and especially the bounty creator. The money of the bounty gets distributed to all top level comments of the post at the same time when the post is paid out (7 Days after it was written). How much everyone gets depends on the votes the comments received. The sender of the bounties votes are weighted higher so that she decideds where 80% of the bounty money goes and all other votes determine the rest.

@steem-bounty does all of this for you automatically. You can use this service to automatically pay out a challenge, ask a hard question or simply to reward the people that interact with you.

Read more about how it works, even in different languages here.

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@elleok has set 1.000 SBD bounty on this post! logo_for-light-bg_1000.png
What is a bounty exactly?

A bounty is money sent to a post to be distributed to the users commenting on it. It provides a way to reward users directly and works in addition to the steem/sbd they receive from the blockchain. It works independently of SteemPower.

You create a bounty by sending any amount of sbd/steem to @steem-bounty together with a post-url in the memo.

How can I earn a bounty Users are then competing for the bounty by writing their answers to the post in comments that will achieve upvotes from the community and especially the bounty creator. The money of the bounty gets distributed to all top level comments of the post at the same time when the post is paid out (7 Days after it was written). How much everyone gets depends on the votes the comments received. The sender of the bounties votes are weighted higher so that she decideds where 80% of the bounty money goes and all other votes determine the rest.

@steem-bounty does all of this for you automatically. You can use this service to automatically pay out a challenge, ask a hard question or simply to reward the people that interact with you.

Read more about how it works, even in different languages here.

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Congratulations to the following winner(s) of the bounty!

  • @orkin420 has earned 0.317 SBD. 0.317 SBD from the creator of the bounty and 0.000 SBD from the community!
  • @dillagr has earned 0.332 SBD. 0.317 SBD from the creator of the bounty and 0.015 SBD from the community!
  • @crypticat has earned 0.317 SBD. 0.317 SBD from the creator of the bounty and 0.000 SBD from the community!
  • @mightypanda has earned 0.317 SBD. 0.317 SBD from the creator of the bounty and 0.000 SBD from the community!
  • @tsnaks has earned 0.317 SBD. 0.317 SBD from the creator of the bounty and 0.000 SBD from the community!
  • @victorsilab has earned 0.006 SBD. 0.000 SBD from the creator of the bounty and 0.006 SBD from the community!
  • @askanything has earned 0.050 SBD. 0.000 SBD from the creator of the bounty and 0.050 SBD from the community!
  • @mkam has earned 0.309 SBD. 0.000 SBD from the creator of the bounty and 0.309 SBD from the community!
  • @yourinfo has earned 0.015 SBD. 0.000 SBD from the creator of the bounty and 0.015 SBD from the community!

i am investing all my SDB in promoting my Posts. In the long run i turn my SBD in SP this way :)
i don't save SBD

SBD over took Steem yesterday briefly before losing " steem " and dropping back down. I seen SBD valued at over $3 today but has recently dropped back down to $1.71. There is a whale somewhere doing some playing. I bet allot made bank trading back between the two and then back again the last couple days but on the other side of the coin allot likely got burnt as well.