Well there you had it , what do you think will happen next
1-SBD price goes back to 1$ while steem staying at 5$ or Even higher , possibility!
2- SBD price following the shadows of steem 5$to 5$ higher or lower, doubt that!
3- SBD back to 1dollar and steem shortly follows
, That's certainly bad ha
4 - everything turns around and ( pack all your stuff honey were going to the moon .... yeah )
A short term run up on steem, maybe even 1.50sbd=1steem, then a drastic pullback. There are a lot of noobs in here like me that want to bump up their status and there are a lot of people with more resources on this platform than they know what to do with. But I also see account numbers skyrocketing, it will just depend how active they are (last year saw like 11%) accounts have 30 or posts all year. Good points, UPVOTE
I want to understand this point first to be able to read the market , and that is why SBD skyrocketed the first place while it should be valued roughly around 1$ and it still is by steemit voting payments
Thanks @cryptkeeper17
The lower that sbds goes the lower that steem goes. A strong sbd allows people to exchange it for more steem of course. sbd is still strong against the dollar, but not strong against steem.
It is likely more people, albeit rare, will start to do 100% steem posts. That should limit the minting of sbd for a while until it strengthens again.
1 sbd is supposed to be mapped to a dollar, I think it is even minted at that rate. It may be bad if it does it again, but it may be an opportunity to buy sbd for if and when it goes up again.
Even if, when you think about it, steem power is nothing more than points that have no value. People just buy points for whatever reason, cause other people do. All market psychology. Not that I am going to complain, steemit has been kind to me.
I think people are unlikely to do 100% steem posts bcuz until SBD is above 1$ and steem 5$ it's still more profitable 50%\50% rewards .
Ex : steem price now is 5$ & SBD 5$ and you have reward of 10$ after curation cut ok ;
then 50/50% reward looks like this. ...
1- 5 dollar's to steem & if (1steem = 5$ then you will get 1 steempower )
2- 5 dollar's to SBD & (on steemit SBD is pind to 1 dollar so you get 5 SBD )
So your reward looks like this ( 1 steem power + 5 SBD ) then you go to market and sell SBD for steem
Like this. 5 SBD to 5 steem .
Now you have 1 steem power & 5 steem = 6 steem power from 10$ post .
And it's still profitable like this until SBD = 1$ & steem still 5$ .
I know that some people are still converting SBD directly to steem by their wallet and missing out on this big profet !!!!
yup, you are right. I was messing up in the mental conversions.
I did to on a 50$ payout it just hurts to remember haha