The thing about it is the Tether crowd is taking more than a 60% haircut at these levels just to get in, that’s if we assume an eventual return to parity, sooner or later, at $1.00USD. The talk's about negative interest rates around the world, and, in some places, that's what you get when you deposit your money: you pay the bank to keep your money for you - negative interest rates. That's seen as scandalous. Paying a premium for government bonds is less so. But when you're willing to pay 3 to 1, knowing that you've got an automatic loss factored in almost guaranteed (66% loss at $3.00 if you 'ride it' all the way back to $1.00), unless you're simply speculating short term, which wouldn't exactly be representative of safe haven hunters either. I believe the vast majority of buyers are poorly informed and they don't exactly understand what SBD is, and that as people become better informed, the money flow will shift to STEEM.
Of course, that will have positive repercussions for other, similar crypto, like BitShares and the ever so popular, still in Development, EOS, for example.
It looks like STEEM has the opportunity to become the poster boy for modern crypto.
All valid points. I guess the choice is does someone see SBD more likely going up to $4 as opposed to going down to $2? To me, this is a fool's play, the risk/reward isnt there. Like you said, the crowd might not understand what they are getting into.
There you go mentioned EOS again...lol. The one that I am not in at the moment. I keep waffling whether to take a bit of my next buy and get a sliver. At this point, I think I need to add to my BTS and STEEM. STEEM makes sense because I agree that it is under priced AND that I can influence my return by posting, commenting, and upvoting. There is a direct benefit for having more SP. BTS is just something I sold myself on believing it is going to absolutely explode.
Hopefully the tether crows keeps running up SBD for another couple weeks.....before switching to STEEM.
I don't own any EOS either. Mainly because it's still in development and we don't really know what will become of the ICO tokens either, but also because I think there's more relative upside potential in both STEEM and BTS, both of which are already proven products. I'll wait on EOS, and if I miss out, then I'll miss out.
As far as a couple more weeks goes, I think you've got a good chance of getting them. We'll probably start talking about the Santa Claus rally in Bitcoin as it rallies into Christmas, but I wouldn't be surprised at all to see some serious end-of-year profit taking into the New Year. We'll see.
Added some more STEEM and BTS last night.
Got caught up in the pump with the transfer...I move some BTC and after I hit the submit, the price went through the roof...probably cost me 20% of the STEEM I was buying.
Good thing the price is going to $100 to compensate me for it. LOL
By the way, your SBD article was very timely. I am not sure there is a relation but odd there was a pump last night.