@kingscrown is back - STEEM and SBD pumped! And a Community Question Inside!
This post is a followup to https://steemit.com/bitcoin/@kingscrown/kingscrown-went-mia-btc-dumped-to-9k-usd so if you have no sense of humor... Find it!
So both STEEM and SBD pumped right now, lets see where they go.
STEEM
Its hard to count so on decentralized OpenLedger (get there, those types of exchanges are the future) its cheaper to buy with BTS than on others.
SBD
Upbit the Korean exchange is pumping price of SBD as usual. Dont bother with HitBTC, withdrawals still dead since 2-3 months.
Why is SBD worth more than STEEM ?
We know Korea is pumping it, but before KR had exchange Poloniex also pumped it way above peg. What ar the reasons that SBD goes so high and even higher than STEEM ? 1USD peg is far far away.
Leave replies and ideas in comments.
I will be happy to read them.
Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips! |
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Woff, woff!
Hello @kingscrown, Nice to meet you!
I'm a guide dog living in KR community. I can see that you want to contribute to KR community and communicate with other Korean Steemians. I really appreciate it and I'd be more than happy to help.
KR tag is used mainly by Koreans, but we give warm welcome to anyone who wish to use it. I'm here to give you some advice so that your post can be viewed by many more Koreans. I'm a guide dog after all and that's what I do!
Tips:
Unfortunately, Google Translate is terrible at translating English into Korean. You may think you wrote in perfect Korean, but what KR Steemians read is gibberish. Sorry, even Koreans can't understand your post written in Google-Translated Korean.
I sincerely hope that you enjoy Steemit without getting downvotes. Because Steemit is a wonderful place. See? Korean Steemians are kind enough to raise a guide dog(that's me) to help you!
Woff, woff! 🐶
since the on and off ramps for steem are through BTC and ETH, the price has to be looked at in these terms. On a relative basis, steem's price is far from its highs. Long way to go.
부러워요 투표수^^오늘도 힘내세요
एक अलग सामग्री
yes steem has to reach to the moon
what a graph
Got to get me some STEEM
I wonder why myself but I prefer for SBD to have a higher price compared to Steem. I believe eventually steem will run up but I'm not sure if Steem Dollars will go with it. At that time, our posts will generate less Steem power.
I still say that SBD didn't start behaving erratically till the UpBit listing started, and I'm guessing there are a whole lot of people buying it who have NO idea that it isn't even a "real" cryptocurrency, just an internal smart contract used to pay content creators here.
But-- because it has a small market cap-- people realize they can pump it pretty easily, so it goes WAY off the $1.00 peg... and the market would have to be flooded something fierce with more SBD to bring it back to anywhere even near the peg. There's a lot more Steem on the market, so it's harder to move.
There is a use-case for SBDs - buying votes, bringing attention to your posts. Influencing the community's opinion.
Also, I remember there was something like a Steemit ebay where you can buy items with your SBDs.
So, I wouldn't necessarily say that SBD is not a real cryptocurrency.
I totally agree. I think there is actually a large amount of money that is "indexing" the top 100 list, and people are investing in every coin on the list to not miss any of the big pumps and follow the market as a whole.
I feel like screaming "tell me more".
Yeah this is the most likely explanation for me as well. What I'm wondering is - with the SBD supply so low, is it theoretically possible that it stays overvalued (or even climbs more) purely off of the speculative nature of crypto investing?
It doesn't take that much interest to drive SBD to $10+, compared to other tokens. Maybe this is the new normal for a while, until crypto valuations mature in some kind of meaningful way.
I think for a while it's possible. The mega-speculative investing has to come to an end at some point, I would think.
SBD is not meant to be pegged but to maintain at least $1 value. So nothing is erratic. Unless there is a massive supply of SBD, the price will be well above $1
Cheer Up! 와우! 정말 많은 사람들이 이 포스팅에 많이 투표했어요! 우리 앞으로도 힘내봐요!
IMO it is mostly STEEM is undervalued and the supply of SBD is linked to STEEM (the supply rate is also too low, but that's perhaps secondary, and also could be more flexible).
My reward burning initiative (see posts in my blog) will help address this by introducing a missing feedback mechanism. That is, a portion of the overvalued SBD is used to buy and burn STEEM, which should both increase the price of STEEM and decrease the price of SBD. The effectiveness of this will depend in large part on the degree of voter support.
Given the size and strength of the community and the features of the working blockchain, STEEM should easily be a top 10 blockchain. The market needs a little help in recognizing this.
I just stumbled upon your reward burning initiative and have to say it is pioneering. There really should be a platform-wide option that allows all users to support something like this.
For example, for users to be able to flag others, they should be required to put their money where their mouth is and burn a minimal amount of steem or SBD. This may mitigate the flagrant flag wars that are going on right now, as the reward pool abuse becomes more evident to the community.
I like to think of Steem and SBD as Neo and Gas, SBD could actually be one of the most creative incentive structure, the higher the price the more likely people would hold unto the Steem.... As SBD is like a bridge to Steem, it gives users a good medium of exchange... As long as SBD circulation is kept within limits, it might be better pegged to Steem and could actually help the price
I don't get the whole SBD thing, why is it pumped so hard???
Act with great care, coins with small market caps and thin volume (fits the bill for sbd) have been pumped and dumped in the past and will continue to do so as long as exchanges and regulators allow the manipulation of the market. Buyers of SBD recently are looking for a quick return, they're weak hands and will sell for a profit. It's easier to move an object when it weighs less, which is why they'd have to try harder to get the same price action on something with steem's market cap.
I think pumping sbd is something that is good and bad at thesame time. Sbd increase will make more engagement on the platform to become exponential, that is great. But the bad side is that the main purpose and initial outlook for sbd which is to be pegged at 1 usd becomes defeated and at the end, we are left with steem blockchain dollar instead of steem backed dollar. It also has effect on the payout, this is becasue we have more payout in sbd and lesser in steempower. My 2 cents.
Sense of humor??? Prices are rising, so "someone" is jumping to post more frequently with empty nonsense to capitalize on an auto-vote following, per usual, for the inequitable payday.
You are right ! But People who are doing are losing followers loyalty. As it involved with money some avoid to upvote them for this greedy actions.