There is a myth that 4 of July will drop a price down. In this short post I will explain why.
Here is a picture what kind of supply and demand we will have at 4 of July:
To understand why external supply and demand don't matter during the first week, please, accept that those who will be rewarded will technically have only 3 options:
- Sell SBD to STEEM on internal exchange. There will be ~$650k SBD to buy ~280k worth of STEEM. This is THE ONLY action that will have impact on price.
- Convert SBD to STEEM. This action means waiting 1 week while price is uncertain. Such actions imply high cognitive costs but don't imply any impact on price short term.
- Hold SBD. This action don't have any impact on price.
Thus if you want to withdraw or power up you either increase value of STEEM before you will have ability to cashout (or power up) or leave value of STEEM untouched. Brilliant @dan. Good program :-)
Remember that if you wish to sell cheap, you automatically drop value of another half that you have in STEEM POWER.