As I went through SteemWorld last night to see my voting power and ensure it was fully deployed until the morning, I realized that I have 99 posts since I have started on the #Steemit platform. I went to sleep thinking about what I can do to make number 100 special. I am truly amazed on how quickly I have gotten to this point since I consider myself somewhat introverted and thinking I would engage this much on a social media platform was tough at the beginning. However, as I have mentioned in the past, I believe in the future of this medium given the sense of community that is being created here. I have gotten so much out of this platform that I am more encouraged now than what I was the day I joined.
So for today’s post I will show you what I finally decided to do with my Steem Backed Dollars (SBD). In the past, I tried in two separate occasions to use my SBD earned to use upvote bots for some posts. I can summarize by saying that the experience was a mixed bag and while I will do it again in the future by spending more time which bots will get me the best results, I want to complete the #minnowuprising initiative without using upvote bots. I have also used SBD for a contest/giveaway celebrating my 500 follower milestone but after that experienced I have seen that my followers are not as engaged as I would have hoped so will not do that for now (I do have something in mind after the #minnowuprising initiative is complete).
Therefore, I will use my SBD to buy 100 #STEEM! This will go towards immediately increasing my Steem Power to continue my grind towards my short term target of 5,000 Steem Power. I have been tracking the conversion price for SBD/STEEM since April to try to time the market. Unfortunately, I went back to the beginning of the year and saw that SBD traded almost twice as high for a short period of time. In fact, it had a premium (one SBD would get you more than one STEEM) while the market was increasing. I think this was due to the market dynamics at the time whereas demand was outpacing supply in a very thinly supplied market that is SBD. While SBD continues to have a much lower supply than STEEM, the prices have inversed over the last quarter or so. Like I mentioned, I have not pulled the trigger thinking that SBD could eventually trade at a premium again. However, since I have been on the #minnowuprising grind this month, I have realized the importance of continually accumulating Steem Power. So I think it is time despite the latest pick up in pricing for SBD.
I initiated the trade using the internal market for the first time. It is still open as we speak as it is taking orders from sellers at the price specified (1.158482 SBD per STEEM).
Once the order is completely, I plan to immediately powered it up to continue growing mySteem Power! I encourage everyone to use these tools that have been created to make the best of the ecosystem that is the #STEEM blockchain.
Now, the grind to accumulating more SBD starts again! Although the experience is so far quite seamless, I prefer to make these trades periodically instead of at every opportunity given the way I continue to manually track the revenue and currencies on the platform.
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