AskSteemit #11: What are you doing with your SBD profits?
It's been some crazy times in Steem world lately. Who could've expected this to happen with Steem Dollars and for it to remain this high?
It leaves for some crazy conspiracy theories.
Are whales just bored and want to help redistribe of SP to posters?
Is Poloniex somehow involved since they took down Steem/SBD deposits & withdraws around the same time while locking away 600k SBD?
Is someone manipulating a low supply currency just because new money is coming in through the first fiat to sbd listing of Upbit?
Whatever it means one thing is clear, authors have started posting a lot more to take advantage of this situation and I can understand them. I wonder what the average voting power of autovoters is these days.
This is a great opportunity to increase your Steem Power if you really believe in the platform and currency, I've been trying to make the most of this the past few days. Trading some volatile currencies like Ethereum and EOS while moving the profits into Steem and slowly powering them up. Leaving some liquids here and there if the opportunity arises to make some more gains on trades, how awesome is it that it only takes 1 minute for your Steem to appear on Bittrex with a 3 sec block timer and only 20 confirmations required.
In case you follow the crypto analyst @haejin, he has predicted that the SBD price could go up to $30, what do you think about that?
What have you been doing with your SBD profits, Steemians?
Leave a comment down below, in these #AskSteemit posts I reward good discussions more than usual.
Well, I always transfer the SBD I make off of my posts and put it into Steem, but someday I want to invest some money into my laptop that I've been trying to get for 2 years now and put out better content on Steemit. That's pretty much all I want to do @acidyo.
I've been thinking of getting a new laptop too. Mine is six years old and falling apart (literally)
Yeah man, same here. :/ I'm thankful it's still kickin though lol
My life is on a path of recovery and, without having had to increase my post frequency or even achieve the frequency I target, this month will have
kickstarted my recoverykicked me out of the state of recovery. Kicked me out in the sense that for the first time in a while I do not have to worry about upcoming obligations. The incredible SBD value has also vastly contributed to covering BTC fees.More so even, if this SBD rate lasts a little longer I may be able to start playing on the market with my own pocket change as well, not just with the funds I co-manage for others. With last a little longer I mean anything above $5, even not the $11-12 we have been seeing for a while now.
Hi friend, I would like to thank steemit I could pay debt of my friend with the help of rising prices of sbd. Now I am living a life as free man, thanks steemit community for your great help, I want be a good steemer like you one day.
Thanks my dear friends, I have to clear some more loan in the bank, I am optimistic I can do that near future from the help of steemit. Thanks for the great supports.
hahahaha
Buying more steem with it and powering up.
They are currently sitting in bitcoin until I decide what I want to do with them. Most likely back into Steem, I am just not sure when to do it.
I have been extremely happy to use my very first profits of SBD, by trading them for BTC on Bittrex. I didn't make too many SBD since I only joined in October 2017, but thanks to its incredible increase in value, I suddenly felt like a million bucks LOL. I'm exaggerating, but it's great to feel the gain on these first posts, since I've joined in October.
The rise in value of SBD actually coincided with my vacation to Medellin, so I've upgraded my hotel reservation to something a bit more fancy. I figured I deserved it. It's definitely very motivating =). I've also taken advantage of this occasion to try and convince all my friends and family members to join Steemit, showing them that it "really works". I think I've succeeded (my mom just signed up!).
I'm trying to get my friends to join Steemit as well, but it's really difficult.
yes it is! Most of my friends are really stubborn about it and about crypto
In the beginning you tell them to get in on it, but they don't believe in it and says it's a bubble. Then, half a year later, they find out how much you earnt by holding cryptocurrency, but now they think it's too late to get in...:(
Wow. the upgraded hotel reservation is what got my eyes. how did you do that? am kind of new here and am still trying to know how to use my SBD.
I didn't cash out my SBD, but I exchanged them for Bitcoin. I'm holding BTC as the value is still going up, but of course you can sell for fiat if you prefer =). I upgraded my hotel by just choosing a nicer one =). I will recuperate the $ later on. BUT Colombia has many places that accept Bitcoin payments now, so that's awesome!
wow..sounds really cool. but did you do the exchange for bitcoin. pls bear with my many questions. like i said, am new and still learning.
yes I did =)
I have never dabbed in crypto currency before and still haven't. The transactions on Steemit doesn't count as they stay on the platform which is the point I want to make here. I haven't invested a single penny into the platform, but neither have I taken a single penny away. Everything I earn here stays on the platform, gets converted to SP, upvotes and generates more SP. I have been doing that consistently since I joined Steemit in June and am very proud that my full 100% vote is worth around 0.22 now (ok, I know that's not a lot to some!). My aim is to continue to build up my SP and grow... grow .... grow together
wow. Your plan sure sounds good to me. i think am gonna follow you.
i kinda like your idea of growing or building my sp. but how do you convert to sp and upvotes. am kinda new and still learning.
So far, I've bought my 3 nieces some giftcards for Christmas for some clothes, picked up my mom some much needed jeans since she hasn't owned any pairs for like 2 years, got my girlfriend some clothes and other small gifts and then got my sister a giftcard for the movies so she can take her kids out for free one night.
Gonna grab my girlfriend some more small Christmas gifts of things that she needs, then hopefully I'll be able to take some of my money and grab a few Steam games during the winter sale.
Cool. you sure are a generous guy.. but can you tell me how you did all this with what you got from steem. i mean... how did you convert it to cash( am guessing you used cash) to get all those stuffs
hey @excy4yaweh, I think this post will help you, it explains all the steps
https://steemit.com/steemit/@rodeo670/steemit-tutorials-how-you-can-withdraw-your-steemit-earnings-into-usd-and-why-you-should-only-do-it-if-you-re-truly-strapped-for
thanks a lot....
A lot of what I have done with the advantages of the sbd. Among them I can help my parents who are very very short of also help the economy in my day to day life,
in the presence of this sbd I can give various pleasures to people who are near me, I also can help my sister school expenses.
And also recently in aceh affected by floods in certain areas, so I also donate this cost to those who need it. Although it can not cover their losses, but they are still happy to get it.
We are fairly new to steemit and still in the process of getting the hang of it. We hope to be successful (worthy) steemians someday. SBD will definitely help us since my wife just stopped office work and decided to be a full time mom for the family. Thank you for your informative post. More power!