SBD is Back to USD $1 Peg
I've been seeing the value of SBD drop on exchanges. Bittrex now shows SBD at exactly USD$1.00. The current trading value is 0.00016847 BTC, which is exactly $1.00.
I don't know if it will hold there, or drop much lower, but this is a good sign for the pegging of Steem. SBD has been overvalued for months due to pumping of the price. It had even reached $6 for a while as I recall.
If you haven't been spending you're SBD to buy Steem before now, you might have lost out on buying Steem at a little discount. Unless Steem goes lower than a dollar, then you're winning if you buy Steem with SBD then ;)
Thank you for your time and attention. Peace.
If you appreciate and value the content, please consider: Upvoting, Sharing or Reblogging below.
me for more content to come!
My goal is to share knowledge, truth and moral understanding in order to help change the world for the better. If you appreciate and value what I do, please consider supporting me as a Steem Witness by voting for me at the bottom of the Witness page.
Haha Man, that graph is a little depressing. I traded my sbd for Steem and powered most of it up so the little that I possess is tied up there. Hopefully, this doesn't all crash and burn lol.
I jest but this is the place I write. This is where I have spent the time to build a little following (it is tiny but I worked for it). As long as it's going I will be here posting my weird opinions and vaguely coherent rants for whatever that is worth.
I've been selling SBD for Steem then trading it back and forth with BTC since I got here. I'm surprised it took this long for SBD to return to the peg. I can only guess that quite a few were HODLing, hoping for another spike. Unless it spikes again when BTC goes back up, that was likely a mistake.
Unfortunately, people might have learned that HODLing when it's $1 is a good idea. If so, we might have a problem.
The SBD/STEEM (debt/equity) ratio stands at 4.09%
It seems almost inevitable so, what happens when it stops printing do you think?
Edit: Please note that the debt/equity ratio is calculated using the Steem feed information, which I believe is a 3-day average, if calculated using current coinmarketcap spot stats, it would be 4.60%
http://steemreports.com/steem-sbd-info/
It stops printing because of the fall in Steem value, I don't know what else happens after that... People need to buy Steem for SBD to come back?
A SBD price outside of the range 0.80-1,20 USD means that people do not understand the concept of SBD...
The printing of SBD will stop when the SBD to STEEM debt ratio exceeds 5%.
The SBD/STEEM (debt/equity) ratio stands at 4.09%
Quite high already.
what will happen if steem goes below $1 which seems possible now. will sbd stay around 1 or will it maintain the ratio of 1.2 or so.
No more SBD is printed.
I am holding a little bit of both steem and sbd. Who knows what will happen to prices.
I gree with your wisely good thinking.
Just looking at the sphera can find out what's going to be in the future.
I am thinking of converting my SBD into STEEM. What do you suggest?
I have seen SBD around 0.7 ratio as well. when Steem touched $8 SBD was $13 i dont know what will happen when steem goes below $1 but i have a feeling that we will approach 1:1 and SBD may not go much lower than $1. you can convert some now and keep some for later
I wanted to grab as more as I could but one thing I am not able to understand is despite that much low price of STEEM and SBD the market Ask price is barely coming down.
the price is lower at exchanges, it takes time to reflect the price in steem market because there is not enough liquid steem i guess. the conversion ratio is already coming down as you can see its now sbd = 1.23 per steem
my assumption is that if it goes below $1 then we should have a 1:1 market
Convert whichever is higher I think. If STEEM is higher than SBD, then convert to SBD to get more SBD and if SBD goes higher than STEEM convert it back to STEEM.
I really have never understood why so many people want SBD parity with the dollar it is a losing proposition for anyone who actually posts or comments here, I get less Steem for my SBD. Unless Steem goes below one dollar, then it is a losing proposition for everyone, except those who bought Steem when it was at less than 0.50 last year.
No, it's not good for it to be above $1. See: https://steemit.com/dtube/@clixmoney/qk8w0i82#@gtg/re-clixmoney-qk8w0i82-20180625t160626492z
Are you talking about the video or gtg's comment because the video is actually in favor of SBD going up in price. As for the comment @gtg is way off in his calculation if I am not wrong. If you are paid $3.00 for a post and SBD is at 1SBD per USD what you will get paid is exactly $3.00, regardless of if the price of Steem is at $100.00. You will only get more USD if the price of SBD is higher than the price of the USD. Example=
SBD= 1 per USD
Steem =1 per USD
$3.00 payout = 1.5 Steem ($1.50) 1.5SBD ($1.50)
SBD= 1 SBD=2USD
Steem= 1 Steem=1 USD
Payout = $3.00 = 1.5 Steem ($1.5) 1.5SBD ($3.00) You get $4.50
SBD= 1SBD- 1 USD
Steem= 1 Steem =2 USD
Payout $3.00= 0.75 Steem($1.50) 1.5 SBD($1.50)
SBD= 1SBD=1USD
Steem= 100 USD
$3.00 payout = .015 Steem($1.50) 1.5 SBD($1.50) Same $3.00
So an author will only get more of a payout if SBD is priced above the USD. Now it may be harmful for Steem if this is so as people get more money this way(but the argument is that SBD pegged at 1 per USD is best for authors not that it harms Steem) I don't know that, but from the point of view of people who post here the higher SBD the better. Of course witnesses will always get paid with Steem so in their view the one that should be up is Steem because it is in their interest.
Maybe I am wrong but I think numbers don't lie.
hopefully next month sbd price will rise @krnel.
I noticed. Quite outrageous how far the exchange rates dropped here.