New to Steem - Tip 5 - Steem or SBD's ?
What is better to hold in your wallet?
If you agree or disagree, I am more than happy to engage in a conversation with you regarding the subject. As our dear helpienaut @zyx066 always says, this is the place to share ideas.
Cheers!
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Like any liquid currency, it depends on what you're doing with it. I don't know that I'd be anxious to hold either Steem or SBDs as a cash part of my portfolio right now; there are other cryptocurrencies that seem like they're going to do better in that mode (EOS particularly, with its airdrop potential) in the near term.
Steem and SBD are great for actively investing, either by staking Steem or buying things with SBD. If they're sitting in your wallet without an intended purpose you're probably not making the best use of them.
That said, you're right that holding Steem is probably a better plan than holding SBD. There are a lot less SBD so they're still in a zone where pump-and-dump might happen, but there are so many other coins now to do that with it's very possible no one will ever hit SBD again.
Also, there's a significant faction of witnesses who want to take action to hold SBD at $1 USD if it ever gets there naturally. So there's a substantial chance that if it does fall that far it will never go back up.
Perfectly said..
I'm not holding any EOS at the moment, might wait for the main net to happen before I dip my toes... I also might regret my decision... I guess we will wait and see!
:)
Thanks so much for this tip, @meno! Also nice you delivered it "face-to-face" :-)
This is how I go about it, and I hope someone here, or you, can hint me if this is good or wrong or sensible or stupid:
We can choose to get our rewards in two ways: 50% steem plus 50% SBD, or 100% steem. For I while I thought about doing 100% steem because I'm in here for the marathon, not the sprint. But, after checking the various upvote- and resteem-services and discussing them with you and others, I decided to keep at the 50-50 strategy. The aim is to grow as much steem as possible, the HODL-option, so I thought this goes faster when I invest SBD in upvote services; The 50% steem from that extra income is more than the 50% I would "gain" by going for the 100% directly...
This brings with it a dilemma about the moral behind using those bots; all of us in Helpies at least agree that Steemit should be driven by humans to ensure that those who deserve it, the post that generate actual interest from actual human beings, get rewarded and ranked accordingly. But on the other hand we hurt ourselves if we let the unwanted content grow faster: their advantage would only grow and real content would only lose marketplace. That's why I compromise by using the only two upvote bots I know of that use a whitelist and a blacklist: Minnowbooster and Smartsteem.
At the risk of being called a hypocrite, I'd like to ask what your opinion is on this as well as from others who might read this.
Thanks again, for being a guiding-light for us, @meno! :-)
These are great points, but I dislike the idea of gaming the system via bots, primarily because I feel it destroys incentives to network and actually care about our human compatriots. I even go so far as to frown on trails for the same reasons, I do all voting and resteems manually because I want to read and connect with all the posts I support. Your point about the visibility environment makes a lot of sense to me, sure it's settling to the status quo, but at least it is done with good intent and purpose.
I'll have to admit, I too have used a few bots/resteem services on a post, more to satiate my curiosity than anything. Even this exception feels a little dirty to me and not because of the before mentioned intent, but rather it opens the door wider to bot usage and may come at the detriment of valuable lessons and benefits that come with the organic path(growth). To me it seems axiomatic that usage will also come with some level of temptation, the old power corrupts metaphor.
The experience that has always helped me with things like this has been gaming. When ever I have used cheat codes in a game sure it was fun and there where benefits, but this was a shortcut to a sense of accomplishment. When ever I got impatient and desired the end game more than the game itself, I always felt I had lost something great. This translates to the journey itself, it's not a race, slow down and you will see all the small things that make up the whole more clearly. Here you will find beauty, the imagination, growth through skill and hard work, problem solving skills, improvise, compromise and a whole host of other important life lessons.
This helps us to grow, connect, express ourselves, share, interact, learn, adapt, develop friendships, help each other, find our purposes, find our love, grow, grow, grow - shortcuts to me are the same as "money buys happiness." It's an error not of misplaced intent, but of missed objective.
Glad I have someone to explain these things to me. I had a hunch that SBD was the exchange currency from my observations. Thanks for a more thorough explanation :)
Thanks for the tip. I'd like to add that especially for security reasons it's always good to hold Steem Power :-) Liquid cash is overvalued, haha
You know, your little accident turned into a happy story is also a good lesson for everyone too. Meaning, you keep your steem powered up, so the scammer did not get to touch it. That is a built in safety layer that some fail to take into account. Right?
I like your way of thinking!
Indeed it's something many surely don't consider - including myself :-)
I think it's best to hold Steem Power because it increases your earning from making posts and comments, acting like interest or a return on your investment.
I'm with you 100% growing your influence is key!! its hard to get anywhere with little SP
I would hold Steem rather than sbd. Sbd will get back to 1$.
I have no doubt it will... When? is the question no one can answer.
I have doubts. Haha. There is just no way for a crypto asset to fall if the whole crypto market raises in value which i think it will. The margin between steem and sbd i think will increase but 1$ is really not something we will ever see. 😁
More opiniated crazyness for you. Haha
The original reason that SBD was created was to create a crypto that was pegged to the USD. For most of Steemit's history, it was close to $1 USD.
Last winter when all of the crypto markets peaked it jumped up overnight to $12-15 and surprised everyone. So I think it will come back to close to $1 again. There is also talk of doing away with it entirely and we will have to see if that ever happens. Only time will tell.
Oh listen @silentscreamer I'm only pretty sure about this because we have witnesses, top 20 witnesses pushing for the code to be changed, for it to be pegged. They make solid arguments, as much as I may dislike them, their logic is not flawed.
@lukestokes has a video about this... let me try to youtubes it...
Oh. If they do this. It would be great for everyone. It would reduce bot usage. Im actually participating in a burn project that tries to reduce the price of sbd and increase steem price.
If they could somehow peg it manually to dollar that will work, but if left like it is i just dont see any way the open market will let the price be at 1$ usd
Well, when the ideas were put forth, the pitchforks came out too... Some started accusing of "the whales" trying to keep the poor, poor.
Its not that I can't see the counter arguments, but a speculative SBD is not a long term play and that's enough reason to consider it.
If you dont anchor it theres no way speculation wont affect it.
Everything aside, SMTs...
When ever anyone discusses anything steem related my response is always in the end...
"SMTs?"😇
lol you are too funny !
Hmm. The liquidity it brings to the table is a great thing imo and it would shock me if they did away with it completely.
Getting payed only in SP would really take away some incentive for small creators like me.
I use a lot of the funds i receive from my videos and reinvest into equipment, etc. If you take away SBDs, and dont offer something other as a liquid asset from post reward payouts youre really just uping your SP so you can reward others with more SP so others can reward you with more SP.
To use any of your rewards would require you to power down over a long period of time.
I mean they could probably offer liquid Steem instead, although i think theres a reasons they give out IOUs as payment instead of Steem.
Well, the way I understood it, and I could be wrong, is that you would receive Steem and SteemPower, meaning some of it would be vested (locked up) some would be liquid.
it's a pity that you do not understand your language clearly, I've recently tried to increase my steem power, but I do not know if it's a good idea buying with my SBD or doing it through BOTS :(, I clarify that I do not have much money in my account, I would be great if you wrote it, I currently invest in other cryptocurrencies, and I do not trust 100% in steemit
it seems that I prefer to save sbd, because the ability to get still difficult, I also do not really understand about investment. warm greetings from gayo.
SBD's could pump, they could... but with the same ease they could go back to 7, 8 USD they can go back to 1 USD.. Steem is a little more stable than that, hence my reasoning.
I really really learn a lot from this video, like you said there is no consensus on the price of the two sbd and steem. You actually enlighten me more on it. People tend to hold onto sbd since it is the highest value when it comes to payout, with the 5 tips I heard from you today, I'm going to absolutely make a rethink.
When I joined steemit in February the two has the same price even sbd seems to be the highest can you give me more insight on that?
Truth be told even the witnesses (the ones who make the decisions) can't agree on what the future for SBD should be.
On the one hand some top 20 witnesses want to change the algorithm, the code of the blockchain to peg the SBD to 1 USD, meaning that it would work exactly like Tether, having no way of moving on either direction. There are even propositions put forth for the code to do this, and the arguments are quite valid.
On the other hand.- the higher prices of SBD attracted a lot of new writers and it gave the ability for tiny accounts, for plankton to actually make some decent money. Functionality aside, this is a good thing for making Steem mainstream.
I speculate
A hardfork is on the horizon to peg the SBD, specially since the volume from Korea seems to be drying up. When will this happen? no clue... but if you have seen the.
https://steemit.com/@burnpost
Account... look at it... that is part of the plan..
Why is it that the outcome of the payout favour sbd more than steem, don't you think there is something not really clear enough. I'm afraid what will be the future of sbd and even writer that aren't aware of this now
I think the confusion is as follows... if SBD goes back to 1 USD, effectively you would be making more SBD's on your posts.
To make it simple... if the if you got 10 USD payout displayed on your posts, meaning that is how much you are supposed to get paid. it would pay you 10 SBD's too.
Today, it will show a 10 USD payout and pay you 3.3 SBD because of the current price of SBDs. Does that make sense?
Yes, absolutely. You really explain it in more details. Thanks for sharing such amazing experience on here. I really learn a lot from you today as usual, can't wait for more update from you
im just letting it roll in and be what its gonna be.... lol. im long term hodling so will be converting SBD to STEEM. I used to do 100% when i started out but i realized that you need SBD to interact and help peeps out sometimes etc. so switched to the 50/50. but in the long run the "payment" however you get it or decide to hold it, is just a bonus in my eyes..... if my account crumbled or steemit dissolved so there was no means of accessing "funds" i would still be happy with what i have achieved on the platform.... but i digress :) much love
you are part of the HODL gang Cope... tis how we do!!
HODL fo Life Playa !!!! LOL