Weekly Update #8
And the carnage continues! This was another brutal week as the bottom was nowhere to be found. The price of steem dropped again (along with sbds dropping below $1 briefly), but we can average in at the lower prices so we are actually faring quite well (considering). The price of steem dropped again from a 1.65 value to 1.30 value in the last week (-20%). Even with all that negativity, we are still holding in there solidly though. Our balance of sbds decreased to $1 (-$27) as we got fully invested, but our upvotes in the hopper are up to 42 (+$18) (see chart below). So we had a loss of $9 sbds as we are now getting paid very little sbd, but instead getting more liquid steem and of course SP. While this seems bad to lose $9 of sbd, we did pick up 12 steem power, so still a good swap especially considering the market was down 20%. Remember though, we marking ourselves against the growth of sbds and steem, but since they changed the formulas we have to deal with what they give us. The good thing is the market dropped to $1.30 for steem and now it is being priced in the low $1s, thus we have handled the drop rather well. With the new system on steemworld, we can now see what is exactly in the hopper, so now we have about a net $43 sbds once the posts pay off, so that is essentially down $9 sbds from last week.
As a reminder, we are hoping to continue to build the sbds and wait for a price drop (which we got partially this week, so not all bad ;) ). If we get a price drop the goal would be to get a rate of 180 SP per steem per week (its at 240 right now, so this part is great)... so for 13 weeks that would be 13 steem for 180 sp. The goal is to get the sbd up enough to get 130 steem... so going from 53 sbds to 130 is about a 2 1/2 fold increase. I think we can do that in the next month or so. (with a break)... That is now only a 2.5x growth rate, up from 3x last week... The goal will get clearer and more achievable as the days go forward!
If we reach those goals and target prices, it would mean the addition of 1800 steem or roughtly 6x what we have today.
That is the plan... Feel free to tell me what you think!