I've been on steemit for just about a year now. I have seen a $.80-$16.88 range in SBD price. I have owned much more historically than I do currently, as I have invested much of my SBD/steem for physical silver earlier this year. After nearly depleting my wallet, I took a few months hiatus from steemit but now I'm coming back with a quest to learn more about the mechanics of this new crypto paradigm. So I shall now share some of my findings with you.
First off, I'm not a financial advisor in the least nor am I a "charts guy." I'm just a pretty average guy thats trying to figure this thing just like the majority of you guys! I have not done any deep analysis just some simple logic using my observation and basic math skills. I will also factor my own minuscule part into this equation as well. Enjoy! :)
At the current time of 11:30 AM EST 12/12/17, SBD stands at $11.64 making its market capitalization at $43,157,997.25. So from my understanding if you divide the market cap by the price, you will get the amount of SBD in existence (I could be wrong about this. please correct me.) The number I got was 3,707,731.722 SBD in existence.
Ok, now that we've established that, I currently have ZERO SBD available in my wallet. However, using a 3rd party site called steemviz.com (very useful) I was able to calculate my potential earnings for the past 7 days which currently stands at 119.771 SBD ($1395.33 USD.)
Let's try something else now. Let's find the percentage of the current market cap that I personally am (will be) in possession of by taking the amount of that I (will) have, multiply it by 100 and then divide it by the current number of SBD in existence (which we discovered.) That would be 119.771 multiplied by 100 and then divided by 3,707,731.722 SBD , which would be . I own .00323% or 30956.84ths of the market cap.
This may seem like a minuscule number, but lets remember here what steemit is and what it has the potential to become. Steemit in my opinion, is the Facebook of the future but the majority of people are not yet aware of this. People are already accustomed to social media and I think that once Steemit gains traction people will feel incentivized and accept with open arms. I am postulating that Steemit can become as widespread as Facebook for these reasons! Now lets take the number we discovered and compare them to that of Facebook's anaylitics.
The current price for one share of Facebook's stock is $178.19 and it has market cap of 518.66 billion dollars. Now lets pretend that I own the same percentage of Facebook's market as I do with Steemit. That would .00323 multiplied by 518,660,000,000 divide by 100.
In case you are wondering (I know you are,) I owned in Facebook stock what I own in SBD I'd have a networth of $12,752,718 USD.
Can you see the potential growth of Steemit now if it were to replace Facebook? Can you SMELL the growth potential even if 1% of Facebook users joined steemit? The implications are ridiculously exciting as well as intoxicating!
HOLD THEM SBD's my friends!
That was A LOT of Math for me and way more than I am normally used to. I hope that you enjoyed this and found it informative. If I made any errors or have any comments I'd be happy to hear what you guys have to say!
Have blessed day!
~Hratch @jangaladesigns
Out of Steem Wallet, I have been converting Steemdollar > Steem > SteemPower. Is there a better way of converting. I like the idea of Physical Silver. • SteemSilverGold •
I personally have been exchanging my STEEM/SBD on an exchange called blocktrades into Bitcoin. From there I use the Bitcoin to purchase silver on sites like jmbullion.com! They have a great service free shipping and accept Bitcoin! Good luck!!
Got it, did it, told my Brother, too. Thanks Jang.
Yeah, JMBullion has some good Monday "on sale now" deals.
really well written in an easy to understand way thanks bud! an extra piece added to the puzzle of cryptos :)
Thank you Owen! I really appreciate that! This is a huge divergence in the content I usually write! I'm just trying to understand and become more versatile! TO success buddy!
Apologies for swearing but that is f*cking thing of beauty. Of course the reality is in order for steemit to be worth $500+ billion is a different story. Really doubt it can ever surpass facebook, but I hope I am wrong.
The thing with steemit is that people are actually earning and sharing wealth while simultaneous sharing their life experiences. This is so cool. I would not be surprise within a year facebook and other social networks try to roll out their own cryptos.
That is the next big thing is when public traded companies make their own cryptos. We had the industrial revolution in the 19th century now it crypto's revolution.
I think you've made a good point here, man, there could be a crypto revolution soon and companies like facebook might just pop out their own crypto, it doesnt sound far fetched at all, it just might happen.
well analysed !! easy to understand .
Nice analysis @jangaladesigns
And to think youre not even an expert in the field! Its good enough for an amateur, heheheh.
I think I'm taking your difficult advise, man, which is to hold on to my SBD. I'll try, thank you.
Finally, you said you have seen a $80-$16 price range on SBD? Really? When was this please?
Thank you so much! I'm glad you enjoyed it and found the info sound and solid! I actually meant that I've seen a $0.80-$16 range. Lol I hope we'll see $80 soon though!
Hahahah, oh, that was $0.80 you meant, I was awed, man! I was already beating and asking myself where the heck I was when that high was reached, hahaha. Ok, go change that, man. Or you could leave it there as a prophecy thing. Lol.
Hope we see $80 soon too though.
It's actually correct you just misread it 😉
Oh, yea, there is a point there, just no zero. Alright, cool.
I should have made it clear so there is no confusion. :)
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My question is: Should one go for SBD or Steem power nowadays?
Well, they both serve different functions and are valid able for different reasons. SP gives one more "weight" in steemit. Someone with tons of SP would be a whale even if they did not havent any SBD. SBD on the other hand is liquid unlike STEEM Power and can exchanged swiftly and with ease! I like them both!
Great post... Thanks for the heads up... What's better... Steem Power or Steem Dollars... I'm not sure if I should power up or power down...
@pocketechange
Well, they both serve different functions and are valid able for different reasons. SP gives one more "weight" in steemit. Someone with tons of SP would be a whale even if they did not havent any SBD. SBD on the other hand is liquid unlike STEEM Power and can exchanged swiftly and with ease! I like them both!