Yeah @abh12345 brother... Use your free will! But I do not see even a single ray of sunshine over SBD. Grumpycat is aggressively bringing down the price of SBDs... So are other greedy whales!
It was fun while it lasted. But it'll go back to 3$ soon. Maybe even 1$. It has no future. Except for the conversion to STEEM, it has no utility too.
It'll spike every now and then when some exchange lists STEEM and SBD in their store but eventually SBD will return to where it's supposed to be.
Nevertheless, it doesn't hurt to keep some SBD... But if you're keeping it for HODLing purpose, you might get more profits from other major cryptocurrencies like Ethereum, Verge, DASH e.t.c
Check out BAT and Po.et tokens brother :) It's a bit underappreciated right now but it will beam up soon as the masses realize the importance and utility of these coins!
The pumps are because it's still low in supply compared to Steem which has over 300 million coins. Whales are creating artificial scarcity of coins and manipulating the price. Besides, SBD has a market cap of just 50 million dollars. So even a single individual with deep pockets can double it up overnight if he/she chooses to put in a shitload of money into SBD! But as the number of SBDs grow, you'll need more and more capital to bump the price! I heard it was a Korean Exchange last time who bumped the price to 15$... Currently, they'll require double the capital they used last time to pull of that same feat!
After 9 months in steemit and even reading the white paper, I still do not have a solid reason I can state for the need of having SBD. It was my understanding that it is like holding bonds and you are supposed to collect interest, but that it isn't actually paying interest. I also get them in my account for being active on steemit. Now the only way to move them to steem in order to power up is to send them to yourself. It's a strange thing, because I never see them show up in my steem account to power up. So I actually don't know why they are part of steemit and create this confusion and more concerning I don't know where they are going when I take send them to myself. I also don't know why they would be bid up if they essentially don't have any utility.
If I understand your question, you need to exchange the SBD to Steem before you can power up. You can directly power up from SBD with a service like Blocktrades. SBD has a little utility because you can use them to pay for certain services/give as gifts here on the platform, so it's probably useful to keep some "change" around. As for the price, it appears to be dropping ATM. Powerful forces are moving the value down, so we'll have to see what happens.
Yeah @abh12345 brother... Use your free will! But I do not see even a single ray of sunshine over SBD. Grumpycat is aggressively bringing down the price of SBDs... So are other greedy whales!
It was fun while it lasted. But it'll go back to 3$ soon. Maybe even 1$. It has no future. Except for the conversion to STEEM, it has no utility too.
It'll spike every now and then when some exchange lists STEEM and SBD in their store but eventually SBD will return to where it's supposed to be.
There does seem to be some fundamental downward pressure, but the chart currently suggests the opposite.
Like you say, SBDs are always likely to receive a pump, which is why I like to mix strategy and hold/sell/move to STEEM and power up.
Nevertheless, it doesn't hurt to keep some SBD... But if you're keeping it for HODLing purpose, you might get more profits from other major cryptocurrencies like Ethereum, Verge, DASH e.t.c
Yes I hold some Eth and Verge. Bits and bobs all over the place :)
Check out BAT and Po.et tokens brother :) It's a bit underappreciated right now but it will beam up soon as the masses realize the importance and utility of these coins!
The pumps are because it's still low in supply compared to Steem which has over 300 million coins. Whales are creating artificial scarcity of coins and manipulating the price. Besides, SBD has a market cap of just 50 million dollars. So even a single individual with deep pockets can double it up overnight if he/she chooses to put in a shitload of money into SBD! But as the number of SBDs grow, you'll need more and more capital to bump the price! I heard it was a Korean Exchange last time who bumped the price to 15$... Currently, they'll require double the capital they used last time to pull of that same feat!
After 9 months in steemit and even reading the white paper, I still do not have a solid reason I can state for the need of having SBD. It was my understanding that it is like holding bonds and you are supposed to collect interest, but that it isn't actually paying interest. I also get them in my account for being active on steemit. Now the only way to move them to steem in order to power up is to send them to yourself. It's a strange thing, because I never see them show up in my steem account to power up. So I actually don't know why they are part of steemit and create this confusion and more concerning I don't know where they are going when I take send them to myself. I also don't know why they would be bid up if they essentially don't have any utility.
If I understand your question, you need to exchange the SBD to Steem before you can power up. You can directly power up from SBD with a service like Blocktrades. SBD has a little utility because you can use them to pay for certain services/give as gifts here on the platform, so it's probably useful to keep some "change" around. As for the price, it appears to be dropping ATM. Powerful forces are moving the value down, so we'll have to see what happens.