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RE: BlockTrades updates web site, first round of delegation pre-orders filled
@blocktrades
The SP Delegation is 50% more expensive now. I understand it is market and demand drives prices UP. But it has got way expensive now.
Is there any chance the prices get to normal or the good times has been sealed to the past?
I can't say where the prices will go in the future, of course, as it's primarily set by the market. But at the moment, we're still pre-selling delegations fast enough that we are still unable to even offer immediately purchasable steem delegations, so I don't anticipate any near term price reduction. A lot depends on the price of Steem: if Steem goes up relative to other currencies, then the delegation price will go up relative to those currencies, and vice-versa. So it's also a function of what currency you are buying the delegation with. But if you're buying with Steem, the price is expected to stay constant for now.
Its not about Steem relative to other currencies. If one could buy 90 day delegation of 100 SP for 7 Steem, now it costs 11.5 Steem.
Taking into consideration, that steem power holder gets max 25% from upvotes as curation rewards, current price is not profitable.
The price is probably dictated by voting bots. They make a lot more money using that leased steem power. So at this price, for them it is still profitable.. Unfortunately, for a normal user, who only receives curation rewards, it is not profitable any more to lease..
Actually, someone wrote a post that analyzed people buying the delegations from our site and found that the majority wasn't bots. I upvoted as I found the info interesting, it also had some good data that showed how widely the delegations were being distributed among different users.
That's very good news for the long term value of steem, as the demand for SP is not artificially created by voting services.
You got a 100.00% upvote from @slimwhale courtesy of @prometheus21!
Help Me Please Some Sbd
thaks your porst dear sir i am new member help upvote and solution ida
With the price of steem dropping why haven't the delegation prices dropped as well? Also was I not suppose to get a discount for renewal of my delegation? My delegation renewal price is more expensive than what I originally paid.... I thought there was a 10 percent discount for renewal?
Prices for delegations have dropped in cases where the steemprice relative to the payment coin has dropped. But if you purcahsed your delegation more than a couple of months ago, our base price for a delegation relative to the price of Steem has gone up, as demand was so high that we couldn't keep any inventory.
The renewal discount is relative to the current price for purchasing a delegation. Basically it is a 7 day discount to current pricing that we give because whenever we give a new delegation we lose 7 days before we can reassign that delegated SP: so it's more efficient for us to renew an existing delegation than it is to give someone a new one, so we pass on that discount.