PS Guys I found this article that may answer some questions apparently it was listed on a Korean exchange.
https://steemit.com/steem/@drakos/what-to-do-with-the-sbd-pump-a-technical-chart-analysis
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PS Guys I found this article that may answer some questions apparently it was listed on a Korean exchange.
https://steemit.com/steem/@drakos/what-to-do-with-the-sbd-pump-a-technical-chart-analysis
That's really interesting, it explains a lot.
I had 10 SBD so I moved it over to Bittex where is was 110 USD approx of value. I left it on SBD in Bittrex overnight then when it dropped price this morning I transferred it to a mix of XEM, LiteCoin and Bitcoin. It was about 127 USD a couple of hours ago then just dropped to 122 USD, so I made approximately 12 USD on top of the 110 USD the SBD was worth yesterday. Pretty interesting and fun to do.
I thought it was a good opportunity to learn how to use Bittrex and it's very simple to transfer SteemDollars to Bittrex with no fee for doing so, whereas Blocktrades will charge about 2.5 SteemDollars as a fee for converting SBD to Bitcoin.
If anyone wants to know how to do it the process is very straightforward. You register and verify an account on Bittrex (takes about an hour for the full verification) then Bittrex trades SteemDollars so you simply create an SBD Wallet and create a deposit request which gives you a wallet address to send the SBD to, then you go back to your wallet on Steemit and do an internal Steemit SteemDollar transfer to @bittrex and the memo is the depost request code from your Bittrex wallet and you enter the amount, confirm it and then when you go back to Bittrex it will appear in your Bittrex SBD wallet just moments later. It's a really fast transfer.
Being able to move SteemDollars into Bittrex easily opens up a lot of possibilities to trade those SBD, it also made SBD seem like more of a real commodity to me.
I've got to get in on that, when I first joined up I saw people using Bittrex to buy steem and wondered why, now I know. With all the Bitcoin fees lately it sounds like a good way to move things around thanks angusg, good little tutorial there!
Apart from anything its fun. My theory is that currency exchange in Crypto is a really good way to get to know new blockchain technologies. For example this week on Bittrex I discovered Einsteinium, HempCoin, Decentraland (which is like a blockchain open source 2nd Life), Monero, LiteCoin, New Economy Movement (which is a working and trading version of what EOS seems to want to be), and Next Coin. Currently I have a little bit of each plus still 2.5 SteemDollars, plus a tiny bit of Bitcoin.
I'm only playing with the original 110 USD that was created when I transferred my original SteemDollars and for me that's the way to do it, just play hard with 100 or so $ and to learn the system.
Of course there's also the waste of time factor, i.e. I would have made more doing a day's work, but it's a little bit of fun.
Thats awesome, yeah there are so many coins, Im really getting into it, researching and learning about it all, is fun.
Don't worry your not wasting your time, true if you could have made more money for a days work, but think of the education you are getting before this starts to go mainstream and people jump on board! So exciting!