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RE: The Real Role Of SBD In The Steem Blockchain

in #steemit • 7 years ago

After reading this, I wonder what made SBD go between $1.78 & $2.78 on Bitterex and Poloniex recently. My understanding is that the listing of SBD on crypto exchanges changes its function slightly and its price gets affected by supply and demand dynamics.

I wish I had sold my 100 SBD on Bittrex when it was over $1.7 and bought back when it is $1 now. I would have made 70 extra SBD from this move. Even if SBD is a stability token, I won't mind selling at high price and buying back at lower price. Missed opportunity!

I also keep track of SBD/Steem price in the internal market to buy Steem at good price so that I get more and have more SP. I shared my point of view on selling Steem Dollars here!. Please do leave your comment so that I may correct misinformation, if any. Thanks!

7 years ago in #steemit by
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     7 years ago 

    Once out of the internal market, SBD is subject to supply and demand, so it may get pumped and dumped like any other coin. But that happens only if there is enough supply on those exchanges, or, in other word, if people from the Steemit community sell their SBD. If there is no supply, then nobody can pump and dump and SBD will be influenced only by the price feeds published by witnesses.

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       7 years ago 

      I'd rather have Steem and SP (and not SBD) as rewards then. It's easier to power up, liquidate, trade and increase the amount of Steem by buying on dips and selling at peaks and buying at dip again.

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       7 years ago 

      Hi @dragosroua,

      I needed some solid knowledge on SBD and remembered commenting on this post so I used Google to find this post and get back here. I need some clarification.

      • What will happen if I do not maintain 1:19 SBD to Steem ratio?
      • What if my SBD balance is negligible? How will it affect me?
      • When we talk about SBD:Steem ratio, is SP considered Steem? I think yes but questioning is good.

      I took accounting and finance course two weeks ago and reading this post with that knowledge helped me understand what the post said initially. Honestly, I did't get it the first time.

      PS: If selling SBD can cause harm to Steem's price, why doesn't Steemit Inc. keep SBD limited to Steemit wallets and list only Steem on exchanges? (provided SBD stays convertable to Steem).

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         7 years ago 

        PS: If selling SBD can cause harm to Steem's price, why doesn't Steemit Inc. keep SBD limited to Steemit wallets and list only Steem on exchanges? (provided SBD stays convertable to Steem).

        this cannot be done, both tokens are freely exchangeable.

        What will happen if I do not maintain 1:19 SBD to Steem ratio?

        for you it shouldn't have any impact

        What if my SBD balance is negligible? How will it affect me?

        you will just have less SBD. The balance between SBD and STEEM is important at a higher level.

        When we talk about SBD:Steem ratio, is SP considered Steem? I think yes but questioning is good.

        I think it's only about liquid STEEM. SP cannot be traded unless powered down.

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