Steem Dollars are supposed to be pegged around $1. I think +/- 5c was expected, but the market has other ideas. I wonder if controlling what is allocated in rewards can have much effect. We'll probably see it get dumped soon anyway. I know some people have come to Steemit after seeing Steem doing well on the Crypto charts. A higher Steem price means that rewards will be worth more, so it ought to be more attractive.
The Steem Report from @elyque still shows very gradual growth of the Steemit users. Compare this to Mastodon that is gaining thousands per day. I expect that won't last too long as it's likely to be mainly geeks, but it's being driven by mainstream media coverage. There's a hunger for non-corporate social media and Steemit should be getting a share of the pie. So keep on spreading the word.
Anyway, it's Easter Monday, so I'll be chilling at home. The weather has turned a little cooler, but there's still gardening to be done.
Mine cryptocurrency in the cloud at Eobot, including Steem. You can earn as you chat using WowApp. If you use these links I get a small reward. You can recruit others to do the same.
I'm still confused about SBD and what the best thing we as a community should do in moments where it's not accurately sticking to the 1 USD peg. When it's higher than $1, we can sell on the open market, sure, but often the price of STEEM is higher on the open market than it is on the internal market or via conversions... so... yeah. I wonder if we all just need better education as market actors to help promote the peg.
Also, this is just odd:
Who does that? Are they trying to manipulate the market by buying so much over the current price?
STEEM is going for $0.234420 on the open market, but $0.178651 on the internal market ($0.056 spread). But SBD is selling for around $1.388 on the open market. So that's a $0.388 spread. Should we all be selling our STEEM internally for SBD and then selling SBD on the open market for BTC so we can later buy back SBD for closer to $1 when things calm down?
And, if we do that, will the price of STEEM be so much higher then that when we go to sell our BTC to get SBD back (so we can convert to STEEM or whatever), will we have less total STEEM than we started with, even if our USD value is up? I.e., would it have been better just to hold STEEM the whole time?
This stuff is confusing. I'd love to see it spelled out really simply so that:
I did well recently when someone tried to pump SBD and it went up like 6x. What I'm still trying to work out is when it makes sense to play the markets with SBD in order to push the peg back down and increase my STEEM/SBD holdings.
It's still up at $1.30, but Steem is way up too. I guess this is generally good, but we can expect people to dump it at some point to take their profit
I'm currently more interested in attempting to sell high and buy low. For months I've watched the prices swing up and down and I have yet to take advantage of those swings to increase my STEEM/SBD holdings. I'd like to figure it out, especially if it could help stabilize the SBD peg.
I've traded a little, but I don't have much available right now.
SBD pump still ongoing right now!
It's happened before. Went much higher last month.
I hope that steem is on its way up. It seems to be, and the crazy price of Bitcoin makes me feel I should have tried harder to get some!
Great insights "geeky guitarist"!
I don't claim to be crazy, but maybe I am to spend so much time on this odd social site :)
Oops I meant Geeky...edited!