As everybody has noticed for the past week, the SteemDollar(SBD) has been going up like crazy. I am writing this because, until yesterday, I didn't fully realize what it truly meant for us steemians.
Bonus Blog: Because of this, I decided that I'm going to be extra generous to people who write thoughtful and intelligent comments. I hope you are excited about this topic as I am.
The Reality of The Steem Dollar Market
SteemDollars are relatively rare (3,639,983 SBD in circulation). They are only issued via the post rewards to authors. That means that only authors, like you and me, can earn them. We are the first recipients of those dollars in the market. From there, it makes it's way either on the internal market or an external market like bittrex.
There is been an incredible demand for them, nobody knows truly why to be honest, and for that reason the price has been acting like crazy. We don't know how long or how high it will go. It's all a mystery at this point.
What Does It Mean?
The display of rewards in $ under your post is not in US dollars...it's in SBDs. That means that the rewards are much larger that what is displayed to us...when you claim your SBD rewards, your SBD are worth 14X more than what they usely do!!!
What To Do?
I'll try to outline for you your options. It's really not easy to decide which way to go But here they are:
1. Buy STEEMPOWER
If you are relatively new, right now, you have an amazing deal on steem. Right now, on the internal market, you can purchase steem for as little as $0.14 each! It's a really good time to accumulate steem and power up big time with your authors rewards.
For that, you have to assume that eventually, the SBD bubble will pop and get back to what it as been trading for...around $1. I can of stand on that premise but I've been wrong so many times about market that I have taken a little bit of my steem and speculated that it will go up.(just in case I miss out on a massive bullrun)
2. Accummulate SBDs
Massive gains or massive loss. That's the only way I can explain that one. If you think SBD could go to $34, which is a possibility like @ew-and-patterns outlined today in his post, then you keep the SBD you earn and then sell them either on bittrex in exchange for bitcoins or on the internal market for Steem. That's if you are a betting man.
Conclusion
So what are you going to do with this massive rise in SBD? Tell us below.