The POCKET/SBD valuesteemCreated with Sketch.

in #pocket4 years ago (edited)

It's time to decide the value of POCKET, at least for now.

@biophil created POCKET and we, the Steemit community just started to use it.
I already have seen a lot of giveaways, betting activity, people doing jobs and auctions using POCKET.
The problem is that only 1222 accounts collected their POCKET.
Since there are >300k accounts on Steemit, a lot of them didn't noticed, ignored, forgot or were not eligible to collect their POCKET.

I have seen many user's asking where to get POCKET now the Genesis phase is over.
The only place to get them is through previously ment activities.
For some of those activities you need POCKET to use them.
Wouldn't it be great if we could mix up POCKET and SBD for those activities to use them so that the non-POCKET users also can get and use POCKET?
For that we really need to set and use an uniform price, but also to create a market value.

But what is a good/bad price for POCKET?
I know, this question is also asked by @planetanemek.
See here:

Personally I would say that 10k POCKET is equal to 1SBD.

@virtualgrowth is starting with trading activities on bitshares for POCKET.
To read more about it click the link below:

What I like to hear from you in a comment is what do you think is a fair amount of POCKET for 1 SBD?
Also write if you are a (non-)POCKET user.


Granted, I haven't seen all the trading that's happened, but I'm not sure I've seen activity that would support a valuation of 10k pocket for 1 SBD. I saw a trade the other day that was around 8x less than that; someone bought 650k for 8 STEEM; that comes to somewhere near 80k pocket for 1 SBD.

However, if you think that's a fair price (because I don't know, maybe it is!), you could try offering to buy and sell around that price. If you're right, you'll make money. If you're wrong, you'll end up with too much of one of the tokens, and that will tell you which direction to move your price.

I'm not buying or selling my beloved POCKET (at least not yet), just setting my personal opinion how much POCKET could be worth. Maybe my vision is too optimistic but that's exactly why I wrote this text.
I want everybody to enjoy your creation, but at a fair prize.
In my opinion the prize for POCKET needs to get fixed for now so people can play/pay with both POCKET and SBD at a uniform ratio without getting confused.
For me it is all messy now and when we "create" a market cap through discussion (a kind of gentlemen's agreement) maybe more people are interested in using POCKET.
For example; Now it's like I give you 1 dollar and today you can buy 10 breads, tomorrow 100 breads and the day after just 1 bread.
If we all agree we can buy the same amount of bread for 1 dollar at any time, it would be much easier.
At the moment when POCKET is traded outside Steemit for fiat money or other cryptocurrencys the prize will be determined by the market and is also retraceable throug the exchanges and the “gentleman's agreement” is not necessary anymore.

One more question the hundred pocket tokens I received are they tradable on the bit share wallet that whaleshares uses. Forgive that I keep referencing them but my brain associates your project with theirs.

POCKET is NOT my project, it is designed by @biophil as an experimental token for Steemit.
You can use it to send people a small gift instead of sending SBD. Also it is possible to do betting, play contests and more.
POCKET is now available on bitshares. Follow and read the blogs of @virtualgrowth for more information.

So from what I've been reading pocket is a token that can now be sent to other steemit members correct? It doesn't have a specific purpose like whaleshares in the sense that whaleshares are used to earn percentage votes from designated members. The pocket use is yet to be realized. I've been digging through all the pocket post on an attempt to understand. I won 100 pocket tokens. So I was curious what it did. I've gone through least ten post and still haven't found what the purpose of the token is. Just trying to understand.

So are you thinking that the value of pocket souks be 0.001 sbd for 1 pocket?

Only 1222 accounts, that's less than 0.5% of the Steemit community. This is an elite group. We need to come up with a nickname. The 12 Hundred? The Pocketeers? The narwhals? Ok, it's got to be the sea otters, because they actually have pockets!!

I haven't even heard of this! I am very interested though as I would like to get involved...
What exactly is this?
Im about to go on a research rampage

Click the pocket tag and discover a new world open up!

pocketsend:[email protected], here you've got some to start with

Successful Send of 100
Sending Account: baus85
Receiving Account: jaaybs
New sending account balance: 1221606
New receiving account balance: 99
Fee: 1
Steem trxid: 899a582fa2c9a530c9fae20a82a21f342ecde823
Thanks for using POCKET! I am running this confirmer code.

This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond

This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond

Will be offering to exchange steem POCKET for bitshares POCKET soon. Think such a market will help us better determine the value in time.

That's what I'm saying. I really look forward to see what's going to happen. How soon is soon, matter of days, weeks?

@pocketbook and I were just discussing this very topic today:

We came to the conclusion that next Wednesday I'll be putting up a post inviting people to vote for​ three different prices:

  • 1 SBD = 20,000 POCKET (as set by the prior 5 SBD = 100,000 POCKET transactions)
  • 1 SBD = 15,000 POCKET (as the price being ask to get one's hand on @pocketbook's POCKET at the moment)
  • 1 SBD = 10,000 POCKET (as the simpler​ price and thus being the one I prefer)

The winning price will be the one @pocketbook and I will ask for our POCKET selling offers.

What do you think?

I prefer 1:10000 that makes the smallest amount of SBD (0.001 SBD) for 10 POCKET.
Since we live in a world where everything is calculated in the decimal system (base 10) it is the easiest to calculate with.
In my opinion the best would be that at least 10% of the genesis users do vote.

1:10000 upvote for that ;) but 1:1000 sounds much better :D

Me too, that's the one prefer. I would have had even like 1:1000 (for 0.001 SBD = 1 POCKET) but it feels like it's now too late for that since people have already started trading more than 10 times lower to that valuation. Plus, it would have meant that people got their hands on 1,000 SBD worth of POCKET right from the start which is kind of a crazy concept. It sounds more reasonable with a 100 SBD genesis at 1:10000.

Ideally, you're right a 10% of genesis holders would be a significant voice for a starting price set, but I'm sure I don't have the influence to gather that many​ opinions. The only one, who people could really lend their ear to regarding POCKET at the moment, is @biophil and I don't know if he would agree or have the time to be involved​ in spreading the word about such a poll.

Edit: I just saw @biophil's comment above.

1000 POCKET for 1SBD would be nice but that makes POCKET obsolete. 1 POCKET should be less worth than the lowest amount of SBD because:
1: when not, you kill the market cap of Steem/SBD
2: POCKET should be an addition to Steem/SBD, not a 1:1 replacement (in case of the smallest amount)

In point 2 we're talking about factor X (>1) which we try to determine

Hadn't thought about it in that way. Makes a whole lot​ of sense. Thanks for the logical input!

I think Steem and SBD are both great investments. However, I think pocket tokens will be an even better store of value in the long run because no more will ever be created. Someone please correct me if I am wrong but I think that the production of Steem doubles every 2nd year and every 3rd year the production increases by a factor of 10. Our wise founders did this to keep people engaged in the platform and motivated to keep producing great content. By contrast these little pocket tokens will never be produced again so they become scarce and a type of digital gold here on Steemit!

Yes. Great conversation. I like 15k per 1SBD.
A nice median between 10k and 20k.
Anywhere in that general area would be a good value for now in my opinion!!

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