Where will Steem and SBD go from here?
Just because we are amongst a red sea in the crypto markets today, doesn't mean they are all actually suffering.
Remember, Coinmarketcap displays, by default- The values of all tokens and coins, compared to Bitcoin itself.
The USD value is down since 0.00031432 BTC is worth less. Steem itself, is down roughly 17% at the time of this blog, but above the low from yesterday which was $3.02 (when BTC was above $14k). So actually, looking at it this way shows that Steem is a safer hedge than even Tether.
Until tomorrow, we won't actually be able to judge the damage done, since we will need to compare its previous volume with this corrections'.
To make money in this market, the best advice I can offer is so go against the crowd, and keep an eye on Korean markets. Steem on the Korean site Upbit (which has more volume than Bittrex, is currently $3.95) for a total volume of 42.8%.
Anyone here on Steem sees that today, is no different than yesterday for us. Nothing here has changed for the worse- Its only getting better. @ned (@certainassets on Twitter) posted a great Steem stat tracker, which I think you will agree shows the health of the platform. https://iworldpark.github.io/steemit/stat/post/ I think the best indicator on this site is looking at the 3 month chart for posts/authors.
So while everyone else is panicking, don't dare to sell your Steem. Short-term we could see $2 before a new higher high. SBD's on the other hand, I wouldn't doubt if in an upcoming hardfork they figure out a better way to peg this to a USD value to protect the rewards pool.
On another note, why the heck is actual @bittrex sending SBD to boost this garbage?
https://steemit.com/kimpoo/@kimjongpoo/i-kimjongpoo
So you say go and our SBD before it's too late, am I right?
I believe this will likely be the only era of Steemit where 1 SBD can be exchanged for 1 Steem, so this is a great opportunity.
But what do I know? lol
tnx for upvote and SDB
Sell your SBD’s, keep your Steem.
Steem power for the win, gotta grow dat influence.
The downward fall of steem power is cause for concern. I do hope that something drastic much be done to remedy the situation and safe the soul of steem as soon as possible. I follow and upvote you.
You're so nice for commenting on this post. For that, I gave you a vote!
To the moon! and over!
Although saying STEEM is a safe bet is inherently biased considering the platform that the message exists on, I am inclined to agree anyway. Great article.
I agree with your general idea of HODL'ing steem. It's silly to sell off at this stage just because the price reached an all time high and is now starting to drop.
However, I have transferred some of my Steem to Bittrex, because I want some liquidity for my Steem. Nevertheless, I do believe in the platform and looking forward for Steem to reach new highs!
I've got a question regarding these bid bots. I recently spent approx. 50 SBD on boosting my post, (first time I'm properly using these), and my post maxed out at just under $200
There are still about 4 days left until payout, but as the price of SBD is dropping, I can't work out if this will end up as a profitable move. Given that 50 SBD is approx. $200 at current market value, and I need to consider the curation rewards, I'm guessing no.
I tried this experiment because I'm tired of writing content which isn't seen by anyone, and noticed that all the big players are boosting their posts. But as I'm still technically a "minnow", and haven't yet built up my following, I can't work out what I should aim for in SBD investment to promote my posts, and still make it profitable. Any advice would be much appreciated!
Yes
I hear you buddy. Not much of a blogger. Frankly I just like venting into the ether to placate annoyance at what the uneducated prols are doing right now. Love new comers to crypto, but an uneducated newb is a dangerous thing these days.
On an actual related note, I've found right now that just loaning mine out on MB nets me a reasonable return, and I'm only really in it for the long term.
Its actually a good opprtunity to buy some more steem with fiat!
@rcarter I think that STEEMIT is going to be Wonderful going Forward. I Love the price being down to buy more.................
I bought some more Steem power yesterday.
Pre-correction? :) I bought some literally hours beforehand at over $4 :P
It was at $3.62 so not to bad. Just bought 100 more SP at 3.06
I agree with you @rcarter, STEEMIT is stable in price compared to others. And on top of that, Steemit provides a real value instead of just storing value. Just imagine how much content is created on this platform and almost none on the other cryptocurrencies.