I totally agree with you. From your point of view, I totally understand the original post. Thank you! It's best when the market forces are left untouched.
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I totally agree with you. From your point of view, I totally understand the original post. Thank you! It's best when the market forces are left untouched.
in what I have observe, the massive upwards of steem was drive of sbd.
In june 2017, steem rise up to $6 in a second but fail because sbd was $1.
why is that, Lots of people are holding already steem in hand. either liquid or lock up.
when Sbd spike at December, maybe because of manipulation or massive adaption, we can't deny that steem follow the spike not because it was manipulated, but because of what sbd's surging price.
I doubt steem value will remain $5 strong in weeks or months if sbd is just $1. thats my observation.
it's the scarcity of sbd makes it value skyrockets.
if your are not convinced about this, let's see what will happened to steem value without sbd or sbd at $1 only.
Wow, thank you so much for this comment @albertvhons! I've been sending SBD a couple of times to Bittrex and selling em there at $8, $10 and once even $13 per SBD, constantly wondering:
"Who are these people, paying more than 1 USD for an asset which is described in its own whitepaper to be worth 1 USD worth of Steem???"
But reading your comment, now I finally understand some would just correlate the success of the Steem platform to a high SBD price.
I do have a question for you: do you also consider the USDT (Tether) at $1 to be 'cheap', or 'a buying opportunity'?
PS Personally I think Steem value will go to $100 with SBD at $1 only.
But I am fascinated by your position on this matter.
Which would probably be a mistake and a misunderstanding of the actual economics at work here. Please see my reply to the comment you also replied to.
it could be true or not
I also understand your point view, But let's accept that steemit.inc love the high price of the steem/sbd.
It is not true that 1:1 ration to sbd/usd coz it is not the steemic inc gives the price-but the market.
What you gonna do as the current moment of high sbd price to make it 1:1?
1:1 of sbd/usd fail even the first it was implemented. Why, We know crypto was heavily paired to btc, if btc fall so as the value of sbd.
Now, about your view of sbd correlation to steemit success, we may say that it does hold any solid evidence that it was, but Is it not?
With all due respect sir, This is the beauty of decentralization, Let's becareful of changing what is current price of sbd now,
I do believe that sbd was created for the success of steem. COz if not, why create sbd.
Because a pegged asset is valuable. See the "world domination" post I linked to in my original post.
I know that sir, But what I see even the First implementation of sbd as pegged asset already fail, even the first it was implemented.
I don't even trust tether as pegged asset to Usd, it also fail,
I know also sbd was created for stability of the platform or for the success of the platform.
You must considered also the the views of the traders who gave price of the coin,
Still, moving into a two way conversion pose a threat of the plat form.
Still I believe, SBD cater the success of the platform and it did.
and still, Even the first place, sbd was not really pegged asset, unless you have funds already back up in the market,
Still sbd fails to be $1 each since it is bitcoin who gave the sbd price not usd.
At least sbd became $1 usd in algo runs in the platform, but you must consider first the current value of sbd given by the market, or if not you want to manipulate it also to going down,
Pegged asset should be back up by funds as it was a debt instruments, did it exist? where? if it is, it already fail since it was implemented.
I doubt that! We must weigh the total supply of steem compared to sbd. You can't leave sbd $1 and wanting steem to go $100 with so much steem supply. the reason why sbd surges up because nobody stacking sbd. You can look up it's total supply less compared to steem.
IMO. tether will always be pegged to $1, They can simply issue tether and reissue again without informing us. Compared to sbd, With limited supply and can be created "only" via post rewards.
The time scale on your charts does not line up.
sir @smooth, the chart doesn't tell everything, Please look at the date between june to august of steem and sbd. And you will find out That steem fail to hold $6 to $4 in a day while SBD is at $1. and that's the chart all about.
We may say that as Korean people adapt steemit, it also the start of steemit success to the moon in terms of price, let this be a blessings in disguise,
I think you're falling for the correlation is causation trap. Please, please, please, be very careful about the information you share and the conclusions you come to without solid premises. Many people see pretty graphs and think, "Oh, I get it now! It all makes sense!" even though they are just being told a story. Unfortunately that can lead to actions which end up hurting people, even when the intentions are to help.
Comparing the initial spike in STEEM price to what is happening now is completely unjustified as the inflation model was entirely different as was the marketcap and the entire cryptocurrency environment, not to mention the initial pump that follows many new project launches.