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RE: State of the Market - #5 MARKET IN DENIAL

in #cryptocurrency7 years ago (edited)

Thing with going BTC to USD, is they usually charge you more on coinbase than it would be to just buy Tether. I like SBD a little bit too, if it drops to $1 or below.

Bittrex is the place to trade USDT (Tether).

Downside to Tether is it is centralized risk. There is a bank in Hong Kong that trades 1 Tether for 1 USD. So far, they have been a very honest operation, even reporting publicly when their Taiwan bank assets had been frozen. But you see, it's a real-world centralized risk with them. SBD doesn't have that, but in a decline, we could see SBD trade back down to 0.85 cents. Certainly should trade back above $1 USD in the end, but in a steep decline it will tank.

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Sbd wont go below .85?

Maybe I'm wrong but I think the price of SBD is a good indicator of whether or not the crypto markets are overbought or oversold. I wish you could store Tether on a hardware wallet. I would not feel comfortable keeping everything on Bittrex in Tether. They own the private keys to those funds and they could get hacked. I still think the absolute safest thing to do is buy actual physical bullion with BTC. If I was looking for a crypto to crypto safe haven I think SBD is probably the route I would take. If nothing else you might be able to buy Steem at a discount if you bought SBD under a dollar.

It can go below .85 cents, but SBD is fully decentralized, and when the market is done tanking, people are going to get paid % gains to convert SBD into STEEM. If there is any sort of Steem rally in the future, that's really what is needed to keep SBD back to $1 and above. So with SBD, I'm long-term confident to see it trading at or above $1, even if there are blips way down below that, it should recover every time.