STEEM v SBD: Wifey STEEM is Having the Last Laugh
Hey guys,
How’s things?
I’ve had quite the eventful day in terms of the cryptocurrency world that we live in, with some exciting developments for me that I’ll be blogging about in the near future.
But being on Steemit, I’m not about to forget our beautiful wife STEEM and of course the mistress that does whatever you ask her to do in bed, SBD.
Well after that, I just have to share this amazing STEEM/SBD meme from @memesplease:
Oh wifey, cool your jets!
Starting off with STEEM, just take a look at this beautiful higher time frame chart:
STEEM/USD Daily
Look how cleanly price hasn’t bounced out of that support zone and carried on. It truly is a thing of beauty.
Now take a look at the same higher time frame chart for SBD:
SBD/USD Daily
While SBD has bounced like STEEM, it hasn’t been the same. Content creators like myself are certainly feeling the pain of decreased Steemit earnings after that almighty drop.
But this is where us savvy traders amongst the bloggers earn our keep! Do you remember this STEEM long trade idea that I blogged about buying intraday support?
STEEM/USD Hourly
While your SBD earnings are decreased, I hope you managed to clean up on this STEEM short term trade. If you played your cards right, this setup should have more than compensated you.
Anyway... Let’s just say that wifey Miss STEEM, is having the last laugh.
@forexbrokr | Steemit Blog
Market Analyst and Forex Broker.
Twitter: @forexbrokr
Instagram: @forexbrokr
My SBD Strategy is very simple. ABS - Always Be Selling! I use the SBDs from posting as cash flow that is used to fund other positions. If there isn’t anywhere good to put them, then Steem Power is a great spot. SBDs are best used for cashing out in my opinion. Thanks for the post!
They’re pretty much my thoughts as well. If you’re consistently earning SBD through author rewards, just cash them out each week no matter the price and you’ll do fine.
Well to be honest, i thought the genereal Idea of SBD is to peg it to the value of USD and I think it still should be.
Yes, the original plan for SBD was to peg it to USD in order to make business easier. But you attract new, quality content creation, which will help grow Steemit through a higher SBD price. It’s a double edged sword.
Of course, but Lets say Steem is worth 100$ and SBD is 1$, then you will also automatically get more SBD from the Votes, so it doesn't really matter, as long Steem is growing imo.
Yep, exactly. I’m not against the peg by any means. Just playing what’s in front of me for now 🙂.
I was wondering what it is best to do now.
Should be keep on bringing SBD to the internal market and convert it to Steem (and power up) or should we keep the SBD at the moment in our wallet and hoping that the gap between to 2 becomes closer?
It is quite a dilemma for me. Still a small red fish, so each steem counts for me. Really appreciate your view on this.
Well, nobody can predict the prices but in my Opinion Steem will always have a bigger Value. I think the best use for SBD, if you don't want to sell it for cash, is to use it for promotion of your posts, that way you get SP and visibility!
I haven’t been holding SBD long term at all. Without ridiculous pumps from Korean exchanges, SBD will by design fall back toward $1.00. It is designed as a peg and as inflation kicks in with price rising, it will always be capped.
STEEM on the other hand has no ceiling. You can’t go wrong in the long term by consistently converting your SBD to STEEM.
@forexbrokr "The thermometer of success is merely the jealousy of the malcontents." - Salvador Dal
Either way you look at this, the relationship between Steem and SBD, as long as on an upward trend together, are fine by me.
Yep, I won’t complain with that sentiment. Who cares about the slight price gap between STEEM and SBD. Onward and upward together we go!