SBDs are currently trading at $1.50 and have been for a day or so now...
In what was all too common for STEEM investors back in the day, SBDs are trading north of a dollar and have been for the last day or so.
Often when this happened in the past it tended to pull the price of STEEM up as well.
People tended to sell all the SBD they held for STEEM on the internal market putting buy pressure on STEEM, pulling its price up as well.
The longer SBD stayed above $1 the more it worked to pull STEEM prices up.
Like I mentioned above, we are seeing the early makings of this right now:
(Source: https://steemworld.org/@steem)
Could HBD soon see something similar?
So far HBD is yet to see a similar type move as we are seeing in SBDs, but that doesn't mean there won't be one...
And that could be due to where the primary pump is taking place...
As you likely recall, many of these pumps originated on Asian Exchanges, specifically on Upbit.
Well, guess where it is happening again right now...
Upbit:
(Source: https://coinmarketcap.com/currencies/steem-dollars/markets/)
As you can see millions of dollars are flowing in to SBDs and pumping the price on Upbit, which is also pulling up the price on Bittrex.
Well, guess what Exchange HBDs are also traded on in Asia...
You guessed it, Upbit:
(Source: https://coinmarketcap.com/currencies/hive-dollar/)
HBDs are an even easier pump, in theory...
While there is no guarantee that HBDs will be pumped on Upbit, the incentive is certainly there.
Currently there is roughly 5.7 million SBDs in circulation and only 4.6 million HBS, which means that in theory it should be even easier to pump.
It would take less money flowing in to send the prices soaring.
Hopefully those doing the pumping on Upbit notice this at some point as I have long said the easiest and cheapest way to pump STEEM/HIVE is to pump SBD/HBD.
Here's to hoping we are next!
Stay informed my friends.
-Doc
Posted Using LeoFinance Beta
Strong disagree.
Pumping HBD is much much harder for two main reasons:
So while the supply of HBD is less than SBD the liquidity of coins getting dumped into the pool is way higher with HBD, because 100% of proposal fund money is minted in HBD.
That being said, it has long been my plan to pump HBD with a proof-of-burn dapp so that I have some leverage to 'force' @blocktrades to implement my idea to turn the savings accounts into collateral loan HBD minting machines.
The thing I really wanted to point out here is that I noticed that China released another list of "best blockchains" with EOS at the top again and Tron at #4. Steem is also still on the list at #13. I wonder if that has anything to do with it.
https://news.bitcoin.com/bitcoin-crypto-ranking-china/
Posted Using LeoFinance Beta
https://news.bitcoin.com/bitcoin-crypto-ranking-china/
I doubt it, but it's possible I guess. STEEM has been ranked in the top 20 in this list ever since it was created several years ago and they come out with this ranking every couple of months. SBDs haven't pumped every time the list has come out.
I don't think education has anything to do with it, I think it's all about making money, and if there is a way to make money pumping a coin with relatively a small amount of capital, people will do it. Though I do agree with your second point about the DAO. Personally I am not a fan of the DAO at all and believe it to be the main reason HIVE continues to drift lower and lower and lower. Just about none of the proposals are adding more value than they are taking out and that's a problem. It needs more checks and balances otherwise it is a major net negative on the price.
Agree. And the Korean community thinks they can make money by doing stupid shit like pumping a stable coin and supporting a hostile takeover. This is really greater-fool's theory at its finest, imo.
It may not even be related to anyone on Steemit, in fact I wouldn't be shocked if it wasn't. All sorts of altcoin pump groups out there.
Interesting, like they just see a low market cap coin and decide let's go for it this thing got up to $13 I bet it will do it again?
Yep, exactly. I am not saying for sure this has nothing to do with Steemit, but it's entirely possible. Either way though, hopefully it spills over into HBDs at some point as I think it's the easiest way to get the price of STEEM/HIVE moving up and as we well know a coin price moving up is the easiest way to attract more users... sort of a chicken or the egg type thing. Hard to get the coin price up without more users and hard to get the coin price up without more users. SBD/HBD price pumps do the trick. :)
Note to self: Check my stale steem account to see if there is any SBD to sell!
Posted Using LeoFinance Beta
Did your note to self yield any results?
Just Waiting to pumping up of HBD!
Posted Using LeoFinance Beta
i think it is artificial grow of price in sbd and i believe in 48 will its price will go down to one dollar, there is any game that is clearing looking behind the drama, so lets see
Posted Using LeoFinance Beta
as far it concerns your title question i think @edicted gave you the answer. Now i am really curious as to what will happen next to Steemit cause the last time we had a pump like that it was the beginning of the end. Most of us were overexcited then a whole lot of scammers,spammers and abusers came that led to chaos.
After a while the downfall of steemit started...
Posted Using LeoFinance Beta
Sure, but in the meantime, SBDs went to $16 and STEEM went to $9. If something similar happened to HIVE I think people would be pretty happy.
Only happy if they would be liquid, with a 3 month powerdown it's very hard to profit.
Posted Using LeoFinance Beta
Yep, have to hold high prices for a long time. On that note we need to change power down to 4 weeks from 13 weeks.
I sold all my SBD for STEEM, but instead sold my HIVE for HBD ;)
Some Hive Engine games use HBD in addition to their own tokens, so there is buy pressure for HBD for people who take all rewards as HP.
Plus if HBD is below a dollar you can use the convert feature to destroy the HBD and credit you with roughly $1 worth of HIVE. This reduction in supply helps it remain near its peg over time.
I might be pyromaniac, but I won't burn cryptocurrency... That's what for there is trash cans...