I've seen already the comments, the anger, the confusion, the fear. Specially those who just got here, who got told they were going to be rich. All they had to do was post their memes, it was all going to work out, the plan was fail proof!!!! "WHAT IS HAPPENING?" - They scream, they tag the witnesses, as they hit the enter key with anger.
As much as this might be making your dinner taste like a kick in the gut, SBDs are doing exactly what they were supposed to do. Yes, you read that right. The idea of the currency is that it would work as an asset equivalent to $1 USD. Simply put, Steemit's not so effective version of Tether.
At this point in time the reasons why it has pumped for so long are still an enigma. I honestly don't care what any Technical Analyst says on this subject or in what wave we are cruising. Cryptocurrency markets are the furthest thing from rational and attempting to analyse them as such, is as effective as using tweezers to move sand.
The right play
Is completely up to you, nobody can tell you what is going to happen. You might as well buy yourself a magic eight ball if you can't gut the responsibility of a decision. But, it seems to me that SBD's are doing exactly what the everyone expected.
I often recommended anyone who would ask me to constantly be converting your SBD's to Steem. The idea is that Steem is a better play than SBD's having a higher marketcap, more of it locked up (not liquid, ready to sell), thus making it harder to depreciate as fast.
Some listened, some did not, but I hope no one is beating themselves over this, because this is just one of those life lessons. That being said, you could wait and see what happens. Truth be told another market could jump in and start pumping SBD's all over again. It happened before, it happened just now, so the possibility of it happening again is not far fetched, not in the slightest.
Now... When will the new pump happen? Nobody knows, do not be fooled, do not make plans around the idea that tomorrow Korea is going to pull a superman and save Lois Lane from the fall. I happen to think Korea is probably done getting their ankles broken catching these falling knives.
Everytime we had an SBD pump, it was met by massive sale walls from Steem Whales, thus the rally could never hold. They might have learned their lesson, they might have had enough, and I would not blame them.
The key thing here my friends, don't panic, if you are feeling to emotional about this, stay away from your computer for a day or two. I'm being serious about this. If you are about to sell because you are freaking out, in full panic mode, I can promise you will regret it.
Be smart, take a breath, and trade safe....
Other posts by yours truly
• Building on Commonalities
• Open Letter to Bidbot Operators
• Why I won't support Jerry Banfield anymore - JerryCoin
• My mom's sheep
• Questions to Defrag the Brainium
As soon as I see SBD in my wallet I trade them to STEEM, no matter the exchange rate. No regrets, no emotional doubt, simply growing STEEM and getting rid of the weirdest coin ever invented... good ol’ SBD ;-)
I've been doing kind of the same thing... spend them... I don't HODL SBD's as they kid say these days... I see some plankton wallets with 200, 300 SBD's it baffles me a bit, but..... to each their own.
If Steem falls below $1 you're going to want all those SBDs. Maybe that's overly bearish of me.
As far as I'm concerned the price of Legos is going down. I'm not going to be mad about that, I'm going to figure out when I want to buy myself some more Legos.
A zen master right there!! you know what though... I do empathize with people that freak out a bit because I used to be there myself a year ago or so.
You buy Legos when you need to build something out of Legos... No sooner, and no later... math or no math aside including "poly" math... lol... luv you bro... and stated with such...
I'm never, ever short on things I want to build out of Legos.
Ha-haa... You go TC... lovin' it, bro!
This is one of the hardest thing to take in, but it is simply the truth.
I asked the same question in the groupnot because I was panic, but because I was asked and I don't know the right answer to give.
Why we hope it go up again, let's accept the reality.
It is still a good idea to exchange SBD for Steem if you are building SP to power your account. We still get more that way rather than choosing to be paid 100% in SP! If SBD drops to below $1, that is when I will swap tactics :)
This is actually very true... For anyone who does know....
IF SBD DROPS UNDER 1 USD, FULL POWERUP IS BEST
Good reminder, that's the long term play... gets your more tokens..
Actually very good investment advice in general. Buy low, sell high. Most people however suffer from FOMO, and do the opposite, which is what makes markets profitable for them as stick to the program.
SBD is a thin market, which makes it relatively inexpensive to pump. A lot of folks forget the latter half of the pump is the dump. That's the purpose of the pump, to make the dump profitable.
Simple, but not easy to gut out, as you point out.
Thanks!
Everything was dandy for SBD until Upbit got raided like I kept saying it would, lol. It remains to be seen but it looks like Huobi doesn't have the same appetite for pumping shit like SBD.
@charitybot does bring up a very good point... Upbit got raided... they are not coming back
Even with that price I was posting like crazy last year. lol ☺
Price is lower, you speed up, collect more coins!!
thats the long term move...
yeah, I believe that steem dollar can go to $20 in the end of this year, I hope I am right. ☺
zabyl skazat. Ya znayu nemnogo russki, ochen' nemnogo, no ya znayu.
Классно ) а вы откуда ? ☺
I was actually born in South America, so my first language was spanish, my mom grew up in NY so my second language became english, then I learned portuguese from Japanese Animations (only translations I could find) and falling in love with the culture...
Russian I picked up, the little I know because of moy zhenik...
The mother in law speaks it exclusively, so seven years in, it starts to sink into the branium!
hahahha
But i really enjoy it!
Alphabet still eludes me, it takes me a while to read, but i try to type it in the way i hear it...
Very interesting story, I was born in Algeria and my mother is Russian, I am living in Russia for more than 8 years and even my wife is Russian, she is @steemibaby. Now we have a little child and I will be Russian also very soon. ☺
I never cashed, traded or used any advantage if the high price so I will try to remain calm, nothing I can do but trust now
singing
Don't worry.... about a thing......
Cuz every little thing, is gonna be alright...
<3
I listened to Pechi's voice there cos of his version. I was having coffee, has been kind of sweet. I wish I had been faster to move it and then buy lower but haha not good for numbers. I have asked hector to keep an eye now on. I just want to focus on sharing. Learning though.
PD. I wish it were so easy not to worry about things, lol, yet I do, so better have that tune at hand. Not about steem price though but the pile of things I need to sort out. Hello Monday. Lol.
Although I beg to differ and rather firmly with regard to the merits of trend and technical analysis, I get where you are otherwise coming from my brother.
Yes indeed, folks of all stripes need to chill and be patient with regard to the valuation of SBD, Steem, BTC and the like. These price convulsions are but mere spasms amid a more meaningful transitory shift in widespread acceptance of that which is considered and believed to be an investment of enduring value.
In minor contrast to the primary thrust of your post, the price behavior occurring in crypto currencies is rather typical and very much expected from a historic technical perspective - like it, agree with it, or not – it is what it is… Just give a quick check on reality and get back to me with an argument to the contrary.
Stay with me on this, brother… The world looks just the same, and history ain’t changed… Pick up your guitar and play… just like yesterday… get on your knees and pray, that we don’t get fooled again… Are you with me, bro?
Peace, Love, and Justice for All
Sir, will it be favorable if the sbd is converted to sp now since it's getting lower by the day?
I can't make that decision for anyone, I just happen to be of the mindset as @soyrosa ... i don't hold SBD's
Thanks
I remembered you make mentioned of it in your six minutes video couple weeks ago. Like you have said, sbd is going down it is a matter of time before it will reach $1.
I hope you made the right moves brother
Give it a few months and it will pump back to $20 again.
Unless Upbit comes back, I don't know how it could... :/
But, I would be happily wrong!
Yeah..SBD should be around $1. This should not be something to go panic about. It was high for a long time now. So, it is really hard for newbie like us to digest.
everything is going to be fine, just gotta think long term, that is the "trick" sort of speak.
Good to know that. Crypto Market is still mystery to me.
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STOPTo support your work, I also upvoted your post!
Here's how I look at it. All the SP, all the SBD that I have, I got it for free, for doing something that I used to do on faceplant. If I have 10 SBD, and it goes to 1 dollar per, that's still 10 dollars more than I used to have.
I dont like Amber, you are being way too rational about this whole thing...
Where is the outrage? the fear? Why are you not using caps?
I mean.. come on!!!!
Rational is not one of my better qualities, but sometimes, despite my better judgement, I find being rational necessary...