📢 SELL STEEM, BUY SBD! 🚨
SELL STEEM! BUY SBD!
There has been a pretty drastic move in the STEEM and SBD prices. In previous posts I explained when to buy and when to sell STEEM. Now is the time to exchange any STEEM you have (not Steem Power) for SBD.
Recommended reading:
Why sell?
You can currently get more than 1 SBD for every 1 unit of STEEM you sell. Over the past months, prices have gone over 1 SBD per 1 STEEM a few times, but have always gone down. Graph from part 2 of my guide:
Click for full size!
Notice how the price never even went above 1.05? Now is the time to sell high! Sell STEEM and you'll get more units of SBD in return.
When to buy back STEEM?:
I expect the price of STEEM (in SBD) to drop below 1.00 again soon. Witnesses also play a role here, which I'll go into in future posts. I would recommend to buy back below 0.85 SBD/STEEM.
How to sell?:
You can sell STEEM in exchange for SBD on the Steemit Market. I have explained the basics of the Steemit market in part 1 of my guide.
Any questions?:
I understand this post may be confusing. The price shown in the Steemit Market (SBD divided by STEEM) can be confusing compared to the dollar and BTC amounts quoted on CoinMarketCap. Feel free to leave any questions and remarks in the comment section.
Please consider upvoting and resteeming my posts!
Thanks!
-longcat
Careful here, while the charts may show this as a wise move I have heard that Steemit wants to get rid of SBD entirely or at least peg it to $1 of Steem with a hard fork, see @aggroed's post https://steemit.com/steem/@aggroed/still-in-defense-of-a-high-sbd-why-witnesses-should-not-implement-steem-to-sbd-conversions-now.
Outside of Steemit what use does SBD have?
Yeah, it's certainly not without risk. On the other hand, it could take months before that actually happens. Look at the historic price chart. SBD was around $1 for a long time and then just exploded.
I'm not really sure about the uses of SBD. I haven't looked into it that much since I'm not holding it long-term. Is it a steemit-specific crypto?
Exactly. I believe there are 20 witnesses that have said they will vote for the $1.00 peg. (which of course was the original design concept.) This could have a huge impact on authors who have left their day jobs. But in the long run, I think it will be difficult to keep the platform healthy unless there is a more stable reward.
We are conducting a marketing experiment, designed to demonstrate ways to pay the witnesses and authors on Steemit after the inflation rate goes to zero. You may be interested in this chance to win 100 SBD. All proceeds from upvotes are donated back to the rewards pool. There is absolutely no cost to participate.
https://steemit.com/steem/@bycoleman/marketing-experiment-for-business-sector-resteem-this-post-for-a-chance-to-win-100-sbd-all-upvote-proceeds-donated
As a newcomer, I'm going to use this post, dive into the SBD/STEEM analytics and try to wrap my brain around how to properly utilize the pair. Thanks for the post, @longcat! I am certainly a bit confused but this will be a good baseline for me to work from! Everybody loves crypto!!!!
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