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RE: Q3 2018 Review of My STEEM Experience
Good evening @newageinv. Browsing through your posts and picked this one to read. Glad I did!
Nice to see the progress you've made over time and your consistency at just keeping at it. I'm doing the same thing and, although not quite the success level, still content.
Keep up the great work! 👍
Thanks for the feedback! I hope you find the information valuable and please let me know if you have any questions!
Well @newageinv, now that you mention it ... 😉
... I was looking at the relative pricing this evening between STEEM and SP. Do you have a preferred source of info for getting the best pricing info on the 3 Steem "cryptos?"
The reason for my question? My "back of the envelope" calc tells me that we can buy STEEM right now for about a 5 - 6% discount over SP. But if we then have the STEEM in our wallet, we can trade "straight across" by powering up to SP. Getting it at a discount ...
I imagine you have much better investing skills and knowledge than I do. How do you look at it, i.e. your "strategy" in how you buy these? And with what source of pricing data?
Thanks in advance for your input!
I believe that STEEM = SP so pricing should the same no matter the source. What is showing a difference is the SBD and STEEM prices. SBD was trading above $1 today while STEEM was around $0.80 last time I checked. I use @coingecko for market prices for a sense of where they are at. However, if I want to transact I would go to the exchange detail on those website as exchanges have different prices. However, I have always used @blocktrades for my STEEM purchases unless buying with SBD. If buying with SBD, I would go to the internal market on Steemit and trade or if SBD is below $1, I would consider using the covert feature on SteemWorld.org. I have not used the convert feature but heard that it converts to STEEM as if SBD was $1 based on a median price of STEEM over the last three days. It all quite convoluted but worth the effort if you ask me as some of the discounts are great to have at these prices.
Thanks for this detailed feedback @newageinv.
The way I came up with my numbers is I get my pricing through an API connection, in my spreadsheet, to the CoinMarketCap website. It has pricing for STEEM and SBD.
From there, I know the total amount of "coin" I have in each of the three and the total value shown in my SteemIt wallet. I have to "reverse engineer" the pricing of SP, as that is the only unknown.
On this basis, I came up with the price differential between STEEM and SP, as if they are the same, the numbers don't reconcile.
I will check into your source and see if that gives me a different result.
Thanks again!
Note that the value of your wallet is determined by assuming SBD is worth $1 no matter what the market price and an average or medium (not sure) of the last 3 or 5 days STEEM price according to the witnesses feeds.
OK, thanks for this insight @newageinv. I was unaware of these details.
I just know, in my brief time "in here," you can read various posts that give the impression there is some "strategy" to buying these "coins," but they never clearly state exactly what it is.
As an investor first, myself, someday I hope to find out.
I will remain on the lookout for these details and let you know if the details when I gather them...
P.S. If we have the means to do so, seems like buying on these "dips" like we have at the moment, is a good idea ...