I'm glad to hear - and I forgot you were in Canada! I feel so silly for having cashed out--I needed to.. but it hurts now! But I'm in it here for the long-haul so it's okay :)
I have to agree with your analysis. It makes the most sense with the dates correlated so closely. And wow, if anything this really shows how much TA is being used in these markets. It's everywhere.
Great analysis and for those who aren't aware, Dan really did his research on this and was very diligent about acquiring good information from a variety of sources. Dan is proving to be a valuable resource for high quality information on the platform.
i've always loved his work. everyone has information relevant for people 'in their place' be it deep dive or just raising interest. i'm hoping to improve my own content over the year to come.
Absolutely! Also, cashing out your SBDs isn't even really "taking profits of the table" IMO. The Steem blockchain already cashed that STEEM out for you... when it paid you in SBDs.
When @dan-atstarlite gets back at vlogging, he does it big! He doesn't do it to talk about the weather... well, that too, but he mainly appears on the screen for what sounds like a great on-point analysis of the longest hike in SBD's history!
What do you mean you cannot do outdoors stuff, you are Canadian man, put on a coat and get out there LOL.
Like, have you never been to a hockey game? Love you bro!!!!!!
I've been making hay but fundamentally refused to really take advantage until the last 3 days, out of principle, pegged to the #Steemnomics of everything.
I actually emailed a top witness about this SBD thing last nite to get thoughts.
Great stuff by you pegging (lol) when this started right to a date that seems to matter -- the Tether "hack" - so many questions with this but good stuff by you as always.
I'm inclined to agree with your explanation. A couple of extra points: apparently a major Korean exchange adopted Steem and SBD recently (learned this from @netuoso), and also @alexpmorris made a point about how traders shorting cryptocurrencies can cause them to moon. Basically when SBD initially started to surge in the way you described, some people with faith in the peg mechanism would have borrowed SBD (usually with interest) to short it. The peg mechanism is actually very weak though, and the longer it went without going down, the more they owed in SBD. Thus they are forced to buy at a higher price, which propels the price upwards again in a short squeeze, and other technical traders may jump on board seeing the "technical move" at the same time.
I think all these things came together in a perfect storm after the Tether hack.
In the long run the weak downwards peg should still bring the price down. It's just in no way reliable in the short term. Hopefully we can bring in tools to improve the downward aspect of the peg.
Its great theory, that could actually triggered the pump... But then all these people realized how fast SBD transfer and how its absolutely free to transfer, and they realize the low volumen circulating, so it becomes more valuable, high demand low offer, values goes up.... Many people is doing arbitrage because the coin is perfect to transfer between exchanges fast and free... So they really dont need to know what steem dollars are, they serve they need pretty better than other coin and they are making money, offer wont grow significantly so they will keep their value...
Only thing that could drop its price is BTC price crashing hard and for long time, and i dont see that happening anytime soon...
I've been taking advantage of the price increase to book partial profits to use in buying other coins. Of course, we all here on SteemIt remain bullish on Steem :)
Whoa.... no glasses.... Your eyes are so pretty ;)
Glad to see ya back on the Vlog. I've always thought that you've got a good knack for talking about relevant topics that are useful to the Steemit Community, while holding the viewers attention bc you're a good speaker.
I also think I lot of ppl were waiting for a video like this so nice timing!
I have been selling my SBD at market for a killing all week! It has been awesome! This whole crypto world is fascinating, what an amazing time to be alive and part of this. Thanks for the video, it was helpful having you breakdown your theory's, they make a lot of since.
great vlog. I had not thought of any relationship to tether, interesting take. Just a suggestion on your future vlogs, I'd recommend posting to dtube which is giving out upvotes on all the postings there, assuming it's good content which this vlog definitely applies.
Thanks! Yeah I'm always torn about whether to use youtube or dsound. I chose Youtube for this video because I'm getting a lot of non-steemian youtube traffic so I figure it's a good way to spread the word about Steemit to the Youtube community. I'll probably start using dtube eventually though!
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Glad to see you again. ^_^ Always found your vlog informative and missed it when you went away there. Hope you got to unwind for a bit and are ready to jump back in to the crypto heat. What coins are relatively still affordable right now that you think might be good to get into for a beginner?
Thanks for this video, I've been trying to figure out why people would buy SBD. This explains a very likely reason for the increase in price but i'm still confused who would buy SBD even before the big jump in price.
I am beyond shocked it is still roaming around 12$ I hope Steem follows a similar path next year
I have high hopes for Steem!
I'm glad to hear - and I forgot you were in Canada! I feel so silly for having cashed out--I needed to.. but it hurts now! But I'm in it here for the long-haul so it's okay :)
Thanks for the info!
Hope so I really like STEEM..
kinda happy about it, i'm splitting between powering up and saving sbd in the short term.
That is the way it should be. Steem should be the one getting high. Next Year should make this possible
I have to agree with your analysis. It makes the most sense with the dates correlated so closely. And wow, if anything this really shows how much TA is being used in these markets. It's everywhere.
SBD can stay like this as long as it likes!
Yeah, no complaints 😎
Hey if you are on steemit, you have a happy face to exchange it.
Great analysis and for those who aren't aware, Dan really did his research on this and was very diligent about acquiring good information from a variety of sources. Dan is proving to be a valuable resource for high quality information on the platform.
👏🏽 Agree ^ This video is great for the community, sooo many people have no idea what's going on 😂
Especially the newbees.
I'm still trying to figure out how steemit works , while I see complex content like this one.😂 @khaleelkazi
It was too technical for a newcomer.
Is giving an explanation for why steem dollar values more than the US dollar in the video?
i've always loved his work. everyone has information relevant for people 'in their place' be it deep dive or just raising interest. i'm hoping to improve my own content over the year to come.
Dan rocks!
The steem price can easy rise to the same price like SBD ;)
I've been selling my SBD as soon as I accumulate a decent amount. Nothing wrong with taking some profits off the table.
Absolutely! Also, cashing out your SBDs isn't even really "taking profits of the table" IMO. The Steem blockchain already cashed that STEEM out for you... when it paid you in SBDs.
I like your style of thinking.
i'm doing a split. cheaper steem power and sbd. hoping to upgrade to new kit for the new year to take things to the next level.
When @dan-atstarlite gets back at vlogging, he does it big! He doesn't do it to talk about the weather... well, that too, but he mainly appears on the screen for what sounds like a great on-point analysis of the longest hike in SBD's history!
I agree, this is some what related with Tether hack.
What do you mean you cannot do outdoors stuff, you are Canadian man, put on a coat and get out there LOL.
Like, have you never been to a hockey game? Love you bro!!!!!!
I've been making hay but fundamentally refused to really take advantage until the last 3 days, out of principle, pegged to the #Steemnomics of everything.
I actually emailed a top witness about this SBD thing last nite to get thoughts.
Great stuff by you pegging (lol) when this started right to a date that seems to matter -- the Tether "hack" - so many questions with this but good stuff by you as always.
It's not me bro... it's my camera! lol It freezes and runs out of battery when it gets too cold! Staying in for the winter 😎
Hahahaha!!!!!
We love ya man, you are awesome man. I am around anytime you want to visit, still an open offer!!
I'm inclined to agree with your explanation. A couple of extra points: apparently a major Korean exchange adopted Steem and SBD recently (learned this from @netuoso), and also @alexpmorris made a point about how traders shorting cryptocurrencies can cause them to moon. Basically when SBD initially started to surge in the way you described, some people with faith in the peg mechanism would have borrowed SBD (usually with interest) to short it. The peg mechanism is actually very weak though, and the longer it went without going down, the more they owed in SBD. Thus they are forced to buy at a higher price, which propels the price upwards again in a short squeeze, and other technical traders may jump on board seeing the "technical move" at the same time.
I think all these things came together in a perfect storm after the Tether hack.
In the long run the weak downwards peg should still bring the price down. It's just in no way reliable in the short term. Hopefully we can bring in tools to improve the downward aspect of the peg.
Good points! Do you know if Bittrex lets you short SBD?
I don't think so, I believe it can only be done ad hoc for now.
Its great theory, that could actually triggered the pump... But then all these people realized how fast SBD transfer and how its absolutely free to transfer, and they realize the low volumen circulating, so it becomes more valuable, high demand low offer, values goes up.... Many people is doing arbitrage because the coin is perfect to transfer between exchanges fast and free... So they really dont need to know what steem dollars are, they serve they need pretty better than other coin and they are making money, offer wont grow significantly so they will keep their value...
Only thing that could drop its price is BTC price crashing hard and for long time, and i dont see that happening anytime soon...
Agreed! and if Poloniex's SBD wallets weren't currently under maintenance I'm sure we'd see a lot more arbitrage.
I've been taking advantage of the price increase to book partial profits to use in buying other coins. Of course, we all here on SteemIt remain bullish on Steem :)
Whoa.... no glasses.... Your eyes are so pretty ;)
Glad to see ya back on the Vlog. I've always thought that you've got a good knack for talking about relevant topics that are useful to the Steemit Community, while holding the viewers attention bc you're a good speaker.
I also think I lot of ppl were waiting for a video like this so nice timing!
Thanks! Yeah, I'll reserve the shades for SteemBirds stuff for now 😎
I agree with Jay, good to see you back in the fray, glad you ditched the glasses😎😀
I have been selling my SBD at market for a killing all week! It has been awesome! This whole crypto world is fascinating, what an amazing time to be alive and part of this. Thanks for the video, it was helpful having you breakdown your theory's, they make a lot of since.
Yes man agree! I've been doing the same thing. Hodl low, sell partial high, hodl the rest :)
*Selling it for steem of course.
get that power up ;)
I assumed... of course 😎
great vlog. I had not thought of any relationship to tether, interesting take. Just a suggestion on your future vlogs, I'd recommend posting to dtube which is giving out upvotes on all the postings there, assuming it's good content which this vlog definitely applies.
Thanks! Yeah I'm always torn about whether to use youtube or dsound. I chose Youtube for this video because I'm getting a lot of non-steemian youtube traffic so I figure it's a good way to spread the word about Steemit to the Youtube community. I'll probably start using dtube eventually though!
i made a seperate account @teamvideo maybe make another for 'decentralized' content - that was always my intention with the second account.
Cool, will check it!
Makes sense.. I wondered what was happening, but I did take advantage :) And welcome back!
Thanks @tamacvet... I just have to get back into the rhythm 😎
Great vlog. I agree with @noboxes, interesting perspective on the correlation with tether. Great analysis! Keep these coming!
Thanks @gringalicious! Will do 😎
YES DAN! perfect. love this. i have MISSED the videos ;)
Thanks! Yeah I missed doing these! Just have shake the vlobwebs out lol
Great explanation, thank you!
Makes total sense.
I'm trying to make the most of it before SBD drops again :)
Yip, it's a great time to be posting 😎
hi everybody hi dan, i'm new on steemit, I have a question: why uploading on youtube instead of D.tube ?
D tube is not a mandate on steemit.
He possibly has existing followers on youtube that he wants to bring into his steem page.
Makes sense?
sure thank you for clarifying this.
That's exactly it!
Beautiful video
Eventually I found what I m searching for! Thanks for good post !
Perfect analysis,Great to see
Thanks for post . Very interesting and useful .
Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @thejohalfiles valued at 137.67 SBD, based on the pending payout at the time the data was extracted.
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Awesome information. Thank you for sharing.
very nice review
great vlog .. i waiting for your next vlog
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STOPThank you for this explanation. I was a bit confused before. Now I know
you are teh billgates to steemit world :))
You really made my day with this post. I have been searching for this. Thank you, someone sent me the link. This is the best post ever. God Bless You
Glad to see you again. ^_^ Always found your vlog informative and missed it when you went away there. Hope you got to unwind for a bit and are ready to jump back in to the crypto heat. What coins are relatively still affordable right now that you think might be good to get into for a beginner?
Thanks Dan, you are making uber sense once again / peace
Thanks for this video, I've been trying to figure out why people would buy SBD. This explains a very likely reason for the increase in price but i'm still confused who would buy SBD even before the big jump in price.