The SBD manipulation
Recently someone has been manipulating the price of SBD on HitBTC and it is driving us to anger! And why? Because the official STEEM and SBD average prices uses CoinMarketCap.com average values and the effect caused by that manipulation was a considerable difference between the SBD price from CoinMarketCap and the steemit internal market. Look at this snapshot of the SBD history prices at HitBTC, or look at their website:
The effects at @bruvoter post promoting services
As you may know, we are a post-promoting bot service that shares 100% of our income bids (paid in SBD or STEEM) among our sponsors (SP delegators). Today, we have shared less SBD + STEEM (payouts to our sponsors) than yesterday, mainly because of the unreal SBD price from CoinMarketCap. This is due to HitBTC high prices and high volume, and that is why we are now showing at our webpage (snapshot below) a fantastic ROI of 1.23 STEEM per 1kSP delegated for today (June 4th, 2018). It is important to clarify that we are not being unfair to our sponsors, because we state how those graphs are being calculated. Anyways, that is not good at all, because the sponsors can't get SBD converted to STEEM at the same rate we have been calculating the ROI indicator and, so, they are not realizing that return (1.23 STEEM per 1kSP).
It is true that when the ratio [SBD_price(in USD)/STEEM_price(in USD)] goes up, our voting value increases and so we should sell more upvotes and should receive more incomes (SBD + STEEM). That is true for the STEEM incomes (bids), but for SBD incomes (bids) they will not increase because the parameter in the voting value formula, which has led the increasing of [SBD_price/STEEM_price] ratio, was exactly the SBD_price parameter itself. What we are trying to say, for instance: if our upvote doubles because of SBD_price from the official steemit prices (CoinMarketCap) doubles, the people who buy our upvotes who are paying in SBD will also buy the double of voting power with the same amount of SBD they did before the SBD_price has been doubled. If the SBD price at internal market is equals (or at least very near) the CoinMarketCap price, that would not be any problem, because the sponsors could convert the valued SBD into much more STEEM. In other words our sponsors would get exactly what we state at our webpage ROI graphs, for instance the fantastic "1.23 STEEM per 1kSP" of today return.
The real fact is that this HitBTC manipulation has increased the official SBD price (from CoinMarketCap) used to calculate the voting value of the steemit accounts (you can check the effect of this manipulation at the green line in the graph of the last image), but at the steemit internal market the SBD price is less valuable than the STEEM price. So, because of that difference in the SBD prices (internal market X coinmarketcap) we do not get more incomes and our sponsors could not convert the SBD into more STEEM, indeed the conversion is less STEEM!!
Fortunately, CoinMarketCap has detected this Outlier and has excluded today (June 4th, 2018) the HitBTC SBD price from the SBD average calculation.
Best Regards,
BR-UpVoter TEAM, Jun 4th, 2018 at steemit.com/@brupvoter.
yea it's interesting these different calculations was trying to find a place to turn sbd into steem but found the numbers were wrong.
Node problem created by Hitbtc exchange at coinmarketcap.u can view at http://www.steemdollar.com/
Excuse me for not reading the full post @brupvoter as you may have covered this but I am short on time. Just want to let you know that steem/sbd cannot be deposited into hitbtc at this time (or the last week in fact) which is probably why the price is so out of whack.
If you have sbd in that exchange already then you're golden!!!
excellent information...!!
nice info
excelente informacion gracias por compartir
You got a 15.65% upvote from @postpromoter courtesy of @brupvoter-fund!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
This post has received a 18.49 % upvote from @booster thanks to: @brupvoter-fund.
Información importante, crei que era el unico que tenia ese punto de vista. en cuanto al precio y manipulación de los SBD. tenemos que estar alertas.
You got a 28.08% upvote from @upme thanks to @brupvoter-fund! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).
Good move from Coinmarketcap! This shows at least they have capacity of monitoring cryptos to avoid getting investors caught in a misleading information.
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STOPTo support your work, I also upvoted your post!
@brupvoter, thank you for supporting @steemitboard as a witness.
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Once again, thanks for your support!
Great Information @brupvoter... God Bless
Great information post! Really good.
Obrigado! Saudações Brasileiras!
Sensacional! ;D
Interesting topic, I congratulate you, thank you for sharing!
My recent paid bid returned a high negative roi, i didn't think that was possible. Could you investigate this post for me please, thank you.
https://steemit.com/bid-bot/@cryptothoughts/the-awesome-list-of-steemit-bid-bots-with-a-positive-roi-6th-june
Nice! Now everything makes sense
@brupvoter, CoinMarketCap has removed HitBTC exchange SBD price from it's price list.
https://coinmarketcap.com/currencies/steem-dollars/#markets
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@brupvoter Your payout in SBD has decreased massively in the last days. This cannot be related to the glitch in the SBD price anymore. Could you please explain this. Thank you.
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