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RE: 5 Reasons Why You Should Power Up Your SteemDollars (SMD) to SteemPower (SP)
Except STEEM is way overpriced right now. I would suggest waiting until it falls in price to get more SP for your steem dollars. Half of you earnings from posts already goes into SP anyway so you don't have a choice with that.
Thats also something I'm trying to figure out. What would be a fair price for Steem? Are there any measures for that? Somebody must have had the same question for Bitcoin and Ethereum in the past. Please help.
Depends on your personal opinion really. Right now it is several dollars per STEEM token - so if you want to power up by 1 SP it will cost you about 3-4 Steem Dollars depending on the exchange rate at the time. As cryptocurrencies go it is way overpriced for how early it is in development. A few weeks ago it was about 30 cents even that was high compared to other crypto. One of the biggest issues is the fact that there is very little liquidity and the distribution means that about 90% of STEEM is owned by less than 20 people.
But is it really a reliable measue to say, that a price, that rises up to quick is a sign of overprising? The market wants to find the fair price of Steem. The more market participant, the quicker this gets. Unlike Bitcoin or Ethereum, Steem has a build in social news plattform that permanently build content which is in part promoting Steem. Compare the beginning of Boitcoin and Steem. Steem rises faster, because cryptocurrencies are not so crazy anymore in the thinking of the public. We need a better measure for the fairness of the price of a new cryptocurrency. Any other suggestion?
You come to the deli ma of all projects that involve crypto. How do value them? They are so different from what will have using.