SBD at $17
I cannot believe SBD hit highs of $17 today. I have been watching the insanity unfold on Bittrex.
I decided to buy Steem with my little SBD I had and made a nice lump amount of Steem. A friend of mine sold his SBD when it was at $7 and made over $800.
A funny story is my little brother sold his SBD 2 days ago when it was at $1 something. Just shows the volatility and craziness of the crypto scene!!
On a side note, if anyone as some theories to how and why its blown up i would love to hear it in the comments.
Thanks
@SlayerKM
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Hi - @SlayerKM
I'm new to Steemit and cryptocurrency but here are some of my thoughts.
I've known about bitcoin and cryptocurrency for years. Back then I didn't give it value for a few reasons:
A bitcoin (or altcoin) wasn't a physical item that I could hold so it appeared to be worth less. We like to put a value on something physical and a US $ seemed better to have at the time.
Not everyone knew about it, if my friends and family don't consider it a currency then why should I? and where could I even spend it?
Fast forward to today and it's everywhere. All the cryptocoin lingo has been thrown around by my family, friends, and coworkers. It's being recognized as real. Most only know about Bitcoin, but Bitcoin is a gateway; once you start researching you find other altcoins and what used to be "the magic of pulling money (bitcoin) out of thin air" is more widely understood and accepted by the general public. Cryptocurrency in general is raising.
As for SBD blowing up, I believe it has to do with the community. Cryptocurrency is getting popular and people are looking for ways to make it. Steemit provides an incredible platform that utilizes what's huge in today's world...Social Media.
Because of this, SBD taps into a market of people that aren't investors, people that don't have expendable currency to buy and hold cryptocurrency hoping that one day it will raise. The average person can join the community and gain the benefits immediately.
What does everyone else think?
Wow a lot of interesting points there @pltorres
This is all insane and great to see others views on it.