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RE: Investing in Steemit: I bought Steem twice in 2 days, POWERING UP to support creators

in #steemit • 7 years ago

@davidpakman the support provided by your action can be further amplified by actually NOT doing it on the internal market. The internal market attracts no outside attention or money to steemit.

Sending SBD to somewhere like bittrex and then buying Steem there adds dollar volume to Steem being traded, thus raises the activity level and the attention it gets from people outside of steemit.

The internal market does not do this at all for us and could likely be a reason steem price growth has lagged compared to many peers.

Food for thought.

7 years ago in #steemit by
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     7 years ago 

    ah that's interesting. how do the exchange rates compare if using something like bittrex vs the internal market? thanks!

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     7 years ago 

    Thanks for the food for thought! I like that idea. I guess the only down side to that would be the transaction fees?

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       7 years ago 

      I've found the rate to always be better on bittrex. However, you have to flip SBD into BTC then into STEEM so the commissions offset that benefit mostly.