STEEM POWER Plays: When SBD moon'ed and the current market situation, my 2 cents
SBD is getting quite the increase lately, going from $1.06 to $1.38. But it mooned at $10 a few months ago.
The plan
If SBD is pegged at $1, how did it get to $10? It was said only by manipulation this could ever happen. But maybe this is happening over a longer duration than we realize.
Stage 1: Gather strength
If someone had bought a lot of STEEM early on, maybe back when it was under $1, they could easily amass enough SP to become a whale. We're talking about rich people, of course.
One's influence over the reward pool distribution is dictated by how much Steem Power they have. Let's say someone has 10% of all available SP. On a daily basis, this person controls where 10% of the US$ 250.000 minimum distributed by the reward pool.
Stage 2: Attack
Now holding control of who can earn money, all that's left is amassing the real deal: SBD. After having bought and centralized a lot of STEEM, offering easy votes in exchange for SBD will make people sell their STEEM for the pegged SBD, both further empowering a specific person and giving them the most important coin we have. Afterall, even if STEEM can drop by a lot, SBD can't.
If you thought of bid bots while reading this, it might be no mere coincidence.
Stage 3: Loot
After most of the community gave all of the power to specific individuals simply because we're all told "the only way to get visibility is by trending" up to the point even SBD is scarse (which is why it went all the way up to $10, all one has to do is cash out. Then continue cashing out constantly.
That's my theory, which concludes in...
...Game over, they win. Continue? Inserts more tokens. Hell, yes.
By the way
- While this post does represent what I think happened, I have not voiced my opinion about it
- Whenever SBD rises to 1.40, I can't think of anything but a whale powering down.
Thank you for reading!
Still holding my SBD in the hope it will rise so I can ammass more SP. It is an interesting dynamic, STEEM and SBD.
You should use it on bid bots and take some power from them to yourself.
Hi @felipejoys, I know this is another topic but I'm just letting you know I'm back and would like to chat on discord if that's okay.
I'm online now. Joys#6897
im.new to steemit and im so confused..what is steem what is steem power what is sbd? can you guid me to learn this? any article?
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There are lots of "tutorial" posts out there, but I'd recommend my own. Only problem is, I have none yet.
I will post an explanation about STEEM, SP and SBD next, perhaps tomorrow. It will probably include a different perspective than most of the other posts about tis, so even if you do check out existing explanations, you should come for mine too.
thanks i followed u..i will check for your tutorial tomorrow.also if you explain it simple way..it will be highly valuble to newbies
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I can make a short version too, yeah, np.
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