Why not just invest in STEEM? Why do we need two speculative tokens in both SBD and STEEM?
Do you see long-term value in having a built-in stable token within the STEEM ecosystem? The blockchain will just keep printing SBD until this correction happens to bring SBD closer to $1 USD.
I know the witnesses were talking about slowly bringing sbd price down and pegging it to $1, has there been any action on this idea?
I do see long term value in a stable coin for the steem ecosystem, but as long as there are incentives to speculate, people will speculate. If we want a stable token it would be best for the witnesses to come to consensus, announce the change, and make the change on the next hardfork hopefully before the next price rocket.
There is almost unanimous consensus between the top 20 witnesses but, at the same time, we recognize many do not want to see their inflated author rewards to go away. For the most part, it seems witnesses are not willing to implement a reverse conversion unless the price drops closer to $1. We don't want to be the "bad guys" who turned off the SBD faucet, even if we're thinking about the long-term benefits of the entire ecosystem (including increases author rewards due to increased value of STEEM and the resulting rewards pool). At this point, unless more people demand action from the witnesses, I don't know that much will be done.
I understand the need for a stable asset, but the outside market is not yet ready to accept a 1$ SBD. Most Traders, without any understanding of STEEM and why SBD is worth 1$ - will come to the conclusion that it's undervalued.
I wouldn't be surprised if even if the witnesses try and suppress SBD to $1; it won't behave accordingly. Why? Sentiment drives the price....not the Witnesses.
Sentiment is great, but it can not effectively work against smart contract protocols. If a reverse conversion was implemented, SBD would be printed in an arbitrage fashion to keep the peg. I can't imagine any amount of sentiment changing that.
I find the whitepaper's argument inadequate. It may have been true during the launch, but with the liquidity we have in STEEM now, I don't think it's a valid concern, personally.
But yes, I agree with you, the $1 is so broken as to be just make believe (unless it goes below $1).
I'm surprised there is not yet a competing site like Steemit. Competition will drive it higher. Yes, it'll certainly be one of the leaders. Price of $2k by 2020? Perhaps triple digits.
and I unfortunately start to reduce power: (((
because for a long time I do not see progress in the development of the product ....
as well as the problem with Dan: (((
Steemit is one of the few alcoins that has a product currently in use. I think it is under its value, like the other alcoins, but when the bitcoins rise and stabilize the other alcoins will give a good upward momentum including SBD.
I contribute analysis and graph in exchange I hope comments
If we project a cycle of 5 waves taking, projecting wave 2 until a retreat that touches the triangle again to gain bullish momentum in the volume.
Based on these data we can project wave 3 up to 161% fibonacci, with a wave 5 to 261% fibonacci, values that generally reach the alcoins.
This would lead us as a final goal to approximately 12 dollars in a medium term.
I want to use this Steem channel to contribute ideas and debate them among all, but it seems to be only a one-way channel if the ideas and contributions of others are not supported by the votes.
Giving your vote costs nothing and helps others grow.
I appreciate you breaking all this down on video. It helps folk like me tremendously. I agree. This is something to be excited about. If it was $18.71 once, it will be again, and more. That’s exciting, for sure. I wonder for now, though. What do we make of it if sbd is worth less than steem? Still power up? Any tips appreciated. Blessings
You should understand that this is just a TA. It does not take into account the issue with SBD that could be pegged to USD by Steemit Inc. And they can do it exactly the moment when SBD price goes lower the STEEM and close to $1.
My understanding is that SBD is not going to be lower than $1 but it is as well possible that it will be pegged to $1 USD as it was meant to be at the beginning.
SBD tokens are designed to be pegged closely to one USD, so that users who receive them can know approximately how much they are worth in “real dollar” terms. SBD tokens also offer a relatively stable currency for users to hold if they are looking to preserve their account value relative to USD. A more detailed technical explanation can be found in the Steem technical whitepaper.12
yes i was sort of joking, it was MEANT to, of course; but it never really was designed in a way that would work. read the more detailed explanation, like it says at the end of your quote. long story short the devs didnt think this one through. I have a whole post analyzing the language of the whitepaper if you're interested
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so, if we have the risk of sbd coming down to about 1 dollar, and steem is predicted to grow up, isn't it wise to trade our sbd for steem in the internal market?
Steem Dollar is holding steady, but it's susceptible to the price of BTC.
I agree with you STEEM is going up BIG TIME!
i see these prices much sooner.
$100 STEEM by end of 2018
$1000 STEEM by end of 2020
Why not just invest in STEEM? Why do we need two speculative tokens in both SBD and STEEM?
Do you see long-term value in having a built-in stable token within the STEEM ecosystem? The blockchain will just keep printing SBD until this correction happens to bring SBD closer to $1 USD.
I know the witnesses were talking about slowly bringing sbd price down and pegging it to $1, has there been any action on this idea?
I do see long term value in a stable coin for the steem ecosystem, but as long as there are incentives to speculate, people will speculate. If we want a stable token it would be best for the witnesses to come to consensus, announce the change, and make the change on the next hardfork hopefully before the next price rocket.
There is almost unanimous consensus between the top 20 witnesses but, at the same time, we recognize many do not want to see their inflated author rewards to go away. For the most part, it seems witnesses are not willing to implement a reverse conversion unless the price drops closer to $1. We don't want to be the "bad guys" who turned off the SBD faucet, even if we're thinking about the long-term benefits of the entire ecosystem (including increases author rewards due to increased value of STEEM and the resulting rewards pool). At this point, unless more people demand action from the witnesses, I don't know that much will be done.
In that case unless bitcoin and everything else takes another dive to a lower low, the days of sbd being anywhere near $1 are probably over.
@lukestokes
I understand the need for a stable asset, but the outside market is not yet ready to accept a 1$ SBD. Most Traders, without any understanding of STEEM and why SBD is worth 1$ - will come to the conclusion that it's undervalued.
I wouldn't be surprised if even if the witnesses try and suppress SBD to $1; it won't behave accordingly. Why? Sentiment drives the price....not the Witnesses.
Has sentiment driven the price below $1 USD?
Sentiment is great, but it can not effectively work against smart contract protocols. If a reverse conversion was implemented, SBD would be printed in an arbitrage fashion to keep the peg. I can't imagine any amount of sentiment changing that.
The whitepaper talks about why there was no reverse conversion. The $1 peg is nothing but make believe at this point...
I find the whitepaper's argument inadequate. It may have been true during the launch, but with the liquidity we have in STEEM now, I don't think it's a valid concern, personally.
But yes, I agree with you, the $1 is so broken as to be just make believe (unless it goes below $1).
Do you think Steem will be the Leader of the Cryptocurrencies in 2020?
Will be worth 2000$ ?
You are correct!
$100 STEEM by end of 2018
$1000 STEEM by end of 2020
I hope so @healthiswealth
Hope is Good
but, I Believe and believing, Becomes
We could even see the price of STEEM at $10,000 if half of FaceBook starts posting on Steemit.
I respect each of your target $ but I am sticking to my call of $100 STEEM by year end.
I would love to see this happen.
Just sit back and have faith brother.
Trillions of dollars will flow into Crypto's this year.
Top 10 Crypto's on Coinmarketcap will go 10x to 100x
Have you heard of BitcoinLatina?
Yes, my target target is $14 or so.
and I really need a price of $ 50
once we have already started to dream, what difference to what level :)
@aka8888 $50 will be a life changer for many people.
It sure will. So it's better to get as much steem now than regret it later.
check EOS....
can happen something like that
https://steemit.com/@egarmaulana
:)
I'm surprised there is not yet a competing site like Steemit. Competition will drive it higher. Yes, it'll certainly be one of the leaders. Price of $2k by 2020? Perhaps triple digits.
and I unfortunately start to reduce power: (((
because for a long time I do not see progress in the development of the product ....
as well as the problem with Dan: (((
Steemit is one of the few alcoins that has a product currently in use. I think it is under its value, like the other alcoins, but when the bitcoins rise and stabilize the other alcoins will give a good upward momentum including SBD.
@haejin thanks, this answers a lot of questions I had
your post is very good and useful, how can make a post like you ?.
yes thank very good nice follow you blog and vote.
I contribute analysis and graph in exchange I hope comments
If we project a cycle of 5 waves taking, projecting wave 2 until a retreat that touches the triangle again to gain bullish momentum in the volume.
Based on these data we can project wave 3 up to 161% fibonacci, with a wave 5 to 261% fibonacci, values that generally reach the alcoins.
This would lead us as a final goal to approximately 12 dollars in a medium term.
I want to use this Steem channel to contribute ideas and debate them among all, but it seems to be only a one-way channel if the ideas and contributions of others are not supported by the votes.
Giving your vote costs nothing and helps others grow.
thanks for update steem dollears SBD
thanks for sharing this link i think it is very helpful for me..... i want to say this reason is i can read about some new news....
make sense??
I appreciate you breaking all this down on video. It helps folk like me tremendously. I agree. This is something to be excited about. If it was $18.71 once, it will be again, and more. That’s exciting, for sure. I wonder for now, though. What do we make of it if sbd is worth less than steem? Still power up? Any tips appreciated. Blessings
You should understand that this is just a TA. It does not take into account the issue with SBD that could be pegged to USD by Steemit Inc. And they can do it exactly the moment when SBD price goes lower the STEEM and close to $1.
My understanding is that SBD is not going to be lower than $1 but it is as well possible that it will be pegged to $1 USD as it was meant to be at the beginning.
Thanks so much for the advice! Blessings
It never really was meant to, see the whitepaper
It never really was meant to what?
See for yourself.
yes i was sort of joking, it was MEANT to, of course; but it never really was designed in a way that would work. read the more detailed explanation, like it says at the end of your quote. long story short the devs didnt think this one through. I have a whole post analyzing the language of the whitepaper if you're interested
Not sure if SBD will behave accordingly to what steemit.inc wants as sentiment drives it.
AFAIK they already have started to "print" more SBD in a hope to get the price down.
The key is to be well diversified. So steem and sbd and other coins.
Better getting writing some blogs then!
Thank you for this information,I will always be waiting information from you, as you better understand about this.
i love dtube & i believed that all people love your dtube poste
I love you🌹😘
It was indeed helpful.
Why steem dollar always decline in the market?
@haejin kamu jien ya
I like Your post. You can vote for my post. Let's be friends.
Buen vídeo, muy informativo tu post.
so hard !!
I will trust your analysis and I will buy sbd!!!!!
This is going to be insane!
Congratulations @haejin, this post is the fifth most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 52 and the total pending payments to posts in these categories was $4133.37. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @ranchorelaxo valued at 226.00 SBD, based on the pending payout at the time the data was extracted.
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Comment your SBD prediction for tomorrow!
so, if we have the risk of sbd coming down to about 1 dollar, and steem is predicted to grow up, isn't it wise to trade our sbd for steem in the internal market?
I was wondering where is @berniesanders in your comments list!! Hahaha
Very informative and encouraging. Thanks for all the invaluable tips @haejin
This is, by far the best crypto group on discord - https://discord.gg/xuByDZc
SBD will return to ~$1 and yet you suggest people invest... you are fucking daft aren't you