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That is correct, he will always lose when Steem goes up to 1$ but when things go really up, SBD has reached higher levels as the volume is very low, i think it has been above 10$ in the last year.

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that is true, In this case I would start collecting the SBD from 1 dollar in steem price and not any lower (which I will) but for now I am just converting to steem and powering up or buying buildteam tokens

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STEEM 0.21
TRX 0.20
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SBD 2.96