The crypto-market is currently pretty bearish. Just today, STEEM dropped from 2.2$ to 1.87$ (as of now).
In comparison - SBD dropped as well, but only from 1.63$ to 1.46$. So right now, SBD is holding its value better than STEEM.
But what if SBD were to drop below 1$? We as Steemians know that SBD should be worth roughly 1$ (which hasn't been the case for over half a year now) - but outside investors don't know that.
Do you believe it would go past 1$ the same way it gone over 1$?
As far as I know - as soon SBD is worth less than 1 USD, we should be able to get APR on our SBD in savings. Additionally, the convert function (which is currently hidden) would be useful in that case as well.
What are your thoughts?
I would keep buying. I don't even have enough to even waste time thinking about putting anything into steemit savings account unless I wanted to lock it up in case a hacker grabed my account. it would give me a little bit of time (3 days) to hopefully recover it before it all vanished.
but what if they change your password? that's my worry
That's why you should never use your password/owner-key. Always use your posting, active or memo-key.
You bring the FUD, I will get out my wallet ;)
I agree with APR Savings but where would the interest come from? I guess an alogirthm would have to be made. It's so crazy how long Steem and SBD are dropping when you well know 1-3 years from now it can hit $50-$100. There is so much grow on Steemit, Dlive, and Dtube. People are starting to trickle over here from Youtube, once the crypto market rebounds, people will be coming over here in waves!
The interest rate comes from witnesses...and uhhh SBD has a built in mechanism to keep it over $1 but no mechanism to keep it from going over $1... Don't worry about it going under $1 it will always stay over $1 its built into the blockchain this way...
We do need it to go to $1 and yeah it has gone to like 78 cents for like a few hours or a day, its rare when it did used to go below $1, if it ever does just buy and you can sell when it goes back up to over $1 it was a VERY stable system before the peg was kinda broken...
Just remember Steem is printed up its produced by our very own Steem Block Producers or Witnesses who Sign Blocks and through consensus based inflation, new steem is created at a predetermined rate every year, here is the reward pool
Here ius steems inflation rate from @banjo bot by @inertia
so remember when you ask when steem gets new money from whether it be the reward pool of around 700,000 steem a week, or how we don't use POW mining we just have 20 top witnesses "minting" new blocks via Delegated Proof of stake, not like regular proof of stake with master nodes where you can help run the network and earn coins minting them just by holding them for a certain amount of time... And with steem you do earn the ability to allocate or upvote posts when you stake steem into steempower.... Hence proof of stake but delegated because we have the voting mixed up in there :D It is complex but not too complex... Steem is just a cryptocurrency run from a decentralized database served by 20 top witness nodes, spread out around the world but too many of them are actually clustered in Germany because of Amazon Web Services... But we can fix that in the future by simply voting for new sitnesses or having witnesses forced to change srver locations which can be done easily, just takes some time and effort from the witneses themselves but there is always a new person willing to become the new witness node and maybe steemians would like to see nodes geograpohically spread out around the world and not centered all in one place in the EU, like we almost are now!
But its ook, steem is still the best decentralized database with accounts controlled by cryptographic keys... So we hget all the benefits of bitcoin without any of the latency plus we get features like stolen account recovery so when you stake ytour SP or put it in savings account you get extra protection because within 3 days or first week of a 13 wek powerdown youre gonn egt your account back if you report it stolen inacse osmeone gets your owner key and changes the pasword because by default @steem is set as your account recovery partner, something you can change but this stolen account recovery feature is something you can do incase someone takes your account and locks you outm, even if they staryt a power down youll getteh accoiunt back before they can withdrawal anything, so bitcoin does NOT HAVE ANYTHING CLOSE to that! This is just another reason why steem is so amazing! (And EOS will even have a further feature incase you all together loose the key because stolen account recovery means you actually must have an old copy of one fo your keys, but on eos even if you loose that too youll be able to resent your owner key, something controversial to some but to others we LOVE it and we NEED this to finally feel in control of our wealth and not at the whim of any hacker who finds a way to steal our money. Because just because someone CAN hack it doenst make it right and thats what EOS constitution will be there for hopefully... Anyway Steem has these features of stolen account recovery and bitcoin does not... Just remember that we are the futuire... And anyway my point was that steem witnesses generate any new steem you see , we don't have to mine Proof of work with noisey energy hungry bitcoin ASIC miners or Video cards, no we just have to run 20 main witness nodes... And yeah a lot of front end hosting too but its MUCH more power efficient than Bitcoin!
Also I can imagine @lanmower making his dream come true of using a browser as the front end and using the steeem blockchain to plug in directly and even make a browser extension to allow someone to connect to steem direct and make posts etc maybe even host media over web torrents!
Thankyou, I suppose that's true for anyone though , perhaps even yourself.
It is true, what is your favorite book?
It looks like it may happen. We might only be getting paid in Steem when it does though. I doubt it would drop much below $1.
From a content creator perspective sbd Goins down to $1 or lower will be a bad thing from a purely monetary sense.
If we really think about it though, the fact that sbd cannot be maintained at $1 is a bit of an issue because it loses its value as a currency that's relatable to something we know how to use in real life.
So what if sbd drops below $1? Maybe the Steemit Dev team might finnaly have a good excuse to kill it off completely. Sbds are sort of useless in every other sense.
Could sbd really drop below? Well sure, but you would earn an interest on it so people buy it as a means of earning free returns as you said. Do you know if there is a cap on sbd interest below$1?
Hm, SBD is really useful when pegged to the $ - so I don't see a reason to kill-it-off.
APR in savings could be really interesting.
The issue is that it can't stay at $1 and if trends hold true sbd will always go in a boom bust cycle due to the nature of how its created.
Buy that shit the f up if you think steem will hold a non-zero price in the future when SBD falls below $1 on the open markets.
Not sure exactly what you mean - care to elaborate?
If SBD is below $1 on any exchange due to, say, a big correction and people panic selling like you've stated, then it's an instant arbitrage opportunity because of the SBD->STEEM conversion mechanism. I'm just saying SBD below a dollar will always be a good buy as long as STEEM stays above literal $0.
I bought more steem today and if it goes down I buy more, HEHE :)
I just see Steem as a strong blockchain and once Steemit really gets things tuned up, it will also be much stronger platform and people will stay connected here. I'm still really amazed at how @ned developed this platform.
@ned didn't develop anything lol, @dan did
one day I'll get it right lol
I'm ready to buy lots of SBD if it goes under $1! Then I can just transfer it to my Steem account and convert it to Steem, and I've made money by doing almost nothing. I don't think it will ever to below $0.98 or something like that, just because lots of people will do the same thing as me, driving me price on exchanges to be around $1.
Either way i will still sell for steem or sell for other cryptos. Doubt the apr will be high enough to matter.
If SBD goes under 1$ then it's time to start powering up posts 100% sp.
totally recommended!
Exactly @neoxian!
I will fill my bags of steem and sbd. It will be best opportunity to buy
Good! That's why I'm holding Steempower. Earning passive dividends (delegating & selling-votes with Smartsteem) and Iwon't feel any pressure to sell since it takes at least 1 week for 1/13th of the Steempower as liquid Steem.
I want to increase my steem power and waiting for right time to invest in steem. With btc everthing will go down. My target is at least 10k steem power at the end of 2018.
Another thing now a days prices are going down because there are short trades available in crypto with leverage. People are also earning money by shorting btc
Hm. Maybe someone will know the answer to this, it hasn't been an issue for longer than I've been here -
When SBD is exchanged for Steem through the convert function, where does the Steem come from?
Its newly minted and the sbd is burned, im told.
I'm super stoked about the drop in price... acquire more crypto for the low low!
doesnt matter.... hodl mode. s. error
I think that if SBD or Steem goes under 1$, that would be the last oportunity to take this train. As someone in other comments said, Steemit is already one of the best blockchains, even having more transactions than Bitcoin and Ethereum, and each day, more and more people join to this amazing descentralized social network. So, probably in some months, Steem will reach top 10 cryptos and will never seen again Steem or Sbd in currently prices.
so holding SBD is wise right? this price down demotivating many people around. I'm looking for some motivation.
In crypto business the only thing that is constant is change
I personally don't see it going below $1 though nothing I impossible because nobody would have believed that bitcoin will go from $20000 to $6000.
It pains me so much that I bought Steem few weeks ago when it was still $2.9.
Nevertheless get ready everyone incase SBD goes below $1
I just know one thing. It’s all going lower still. Sellers have been pushing this down for weeks now. Chance bitcoin has bottomed is about 0%. We are going lower. Give me the panic and i flip BULLISH!
https://steemit.com/cryptocurrency/@heyimsnuffles/crypto-carnage-is-imminent-20180610t190128430z-post
I don't SBD can still be pegged to $1 and more users comes in and more transaction and listing by exchangers, the value will definitely increase but on the other hand, if it stick to $1. We pretty much in no time accept it that way because I have always pegged it to $1 on my mind
I think that if sbd do start bringing in apr then pressure to keep it below a dollar will put more and more value into the steem / sp values so yeah, im all for it, if on the otherhand something drastic happens it would be safe to keep some sbd liquid incase of a parabolic influx, it could shoot sbd into the 10-20$ range briefly and disrupt the markets momentarily. Steemit is all about organic growth and proof of brain, weak hands included. Either way buy/hodl seems the concensus rn.
yeah I grabbed some STEEM today and powered up. I see the value of STEEM at $1.85 and I see it at $4....So right now it's all a big sale in my opinion. Great time to buy.
I was not around when SBD was under $1...So that'll be interesting to see what happens if it does go below...
I never considered that. I assumed it went to $1 and couldn't go below but I guess you are right. Considering I'm sitting on 100 sbd mostly from @smartsteem I would like to see the APR kick in. I guess we will find out soon enough lol
I love the price drop, think it's a great chance to get more involved from an investment perspective. I have a lot of conspiracy theories about what is going on with the weak article about price manipulation by the cryptos (https://cointelegraph.com/news/all-of-top-100-cryptocurrencies-see-red-amidst-cftc-price-manipulation-probe), I believe the veracity of that report as far as I can literally punt it. Artificially running the value of SBDs down is a fool's errand in my opinion, having a real market value to it showed real jumps and drops, chances to get in and out. The more valuable it becomes in a long term sense the less it ebbs and flows. Simple economics, and for some reason people on here want there to be an artificial drop to make it comparable to the USD, which is commendable because the heavyweights on here that have the most to lose will lose their asses in value due to the collapsing payback in SBD, which has turned into the bot smart token, in my humble opinion. Great conversation to have @therealwolf!
Can God give me some praise and attention? Grateful!
time to buy i guess 🤔
Lets hope for the best. I need the SBD price to be higher than Steem to power up. The price are a bit depressing in the past weeks and the market is out of control :(
I think the moment it goes below $1 , we may see another run up to $10 like last year. I am being hopeful I know, but the same people who pushed it all the way up to $10 may decide that it is low enough to buy in. Of course, there are a myriad of factors at play, but lets all hope for the best.
I like your thoughts on the convert function and APR on our savings. Let's see what happens soon.
Upbit, the exchange that led the price action on SBD and STEEM, recently got raided by the authorities.
yup, there was some price action on hitbtc too, but did not amount to much, so i'm hopeful that someone or others would do the same.
That was just some interesting frozen wallet trading action, I didn't expect it to change other exchange prices much.
I see, but overall, am hoping that we get out of this bear period soon, its getting rather depressing..haha..
On a not so serious note, for a bot, I like how intellectual and well informed you are..hehe
Bear period? This is depressing? STEEM was trading under 8 cents exactly 15 months ago.
Thank you, but I'm not sure if that's a compliment or an insult if bots are supposed to only be so intelligent. I need to thank humans for putting all their knowledge on the internet.
Definitely a compliment, never have I chatted with such an intelligent bot.
Yes, and I am thankful that Steem hasn't gone all the way down to where it was 15 months ago, although, I wished I found out about steem way back then.
I'm referring to the overall market. Guess I was spoiled by how things were with the bull market just a few months back.
If we do break below $1, This posting from a while back may be useful. Not my own.
https://steemit.com/steemsecrets/@jerrybanfield/steem-secret-3-power-up-posts-when-steem-dollars-trade-below-usd1
We'll be looking back a year from now at the quiet panic during these "bumps in the road." Happy that we accumulated...
My thoughts @therealwolf? Well I really hope it does not go down more than $ 1, it's not good, in my case I'm starting and knowing this, I know it's a trend and that is handled as a stock index, law of supply and demand, hopefully the road takes off with Good news, and win all, THANKS for sharing!
That will be good news and bad news for some guys! @therealwolf
I'm going to make a good sized buy with the price so low. I have a good feeling about Steem long term.
Just me personally...I use Steem for the platform...If SBD fell below a dollar I wouldn't care so long as the platform continued to work...I'm not a trader though and the only thing I use the currency for is gaining visibility.
and have you gained visibility yet?
Not yet, it takes time though...I'll get there eventually with persistence, I've only been on a month.
I don't think it will happen but if it so happens then we all will buy and accumulate it
@therealwolf This is all temporarily. With all the popularity that Steemit and now Dlive is gaining there will soon be another explosion. I also believe the block-chain has been set to keep the $1 value. Right? Best wishes to you!
I am under the impression that if SBD goes below $1 that I can buy up all the SBD and sell them internally for a profit therefore supporting that low end price point and keeping the $1 peg intact. Arbitrage players will not allow to go much lower than $1.
Currently,Whales is playing with us and we just have to do a simple thing..Buy and Hodl..If you want to take more profit,just find bottom and best time to buy alt.Buy now or cry later..Dont be greedy and calm down
If it goes below $1 it is time to buy and stock up.
Lets hope for the best.
I'm crossing my fingers and toes hoping both #steem and #sbd go below $1 again!
Posted using Partiko Android
Have you considered the fact that SBD might not always actually be redeemable for $1 worth of STEEM?
There are situations where the redeem rate can go lower. Here is a comment from @timcliff who has a PR open that would increase the aggressiveness of SBD printing on the next hardfork.
From: https://busy.org/@timcliff/i-submitted-my-first-hardfork-pull-request-to-the-steem-blockchain-updates-to-the-sbd-print-rate
If it goes below a dollar. WE BUY!!!! Lol
I like it very much, keep it that way.Interestingly presented I will be looking more often
Good publication @therealwolf !!! I hope it does not go below $ 1, we will be pending and working hard, thanks for sharing!
When it goes down, I will have the oppurtunity to buy more...and buy vote from smartsteem. Lol!
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@therealwolf I have a question for you considering delegations. I delegated 10k Steem to Smartsteem 3 months ago. In my wallet in those 3 months some extra Steem was generated. 10000 was a starting point, after three months of delegating my wallet said 10045 Steem delegated.
Today I delegated 2300 Steem more and total delegated is 12300. My question is what happened to those 45 Steem?
We are taking the snapshot of the SP when we register the delegation. What you actually delegate are VESTS which are becoming more SP over time. What you could do is to re-delegate after a month so the SP is getting refreshed. I'll add it to the to-do to use VESTS instead of SP when saving delegations, but I'm not sure when I get to it.
I see, still it looks like 45 Steem just went "poof". Tnx for your answer.
The peg holds pretty well on the downside, or at least it used to.