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RE: How To Benefit From SBD Being Stuck Below 1 USD?
You were supposed to be able to do that using Steemit.com by clicking the little arrow next to the Steem Dollars in your balances. But the option is no longer there. For the longest time, there was no reason to do that because the price of SBD was way above 1 USD. I have to look into this.
I knew that used to be a thing, I wonder why they did away with it. Without it does SBD still have a way of burning? Cause if not that could probably be part of the reason for the price loss.
It can be done using SteemConnect. It is still possible to do. They just took it away from the Steemit wallet because some people were using it when SBD was worth several dollars which was a costly mistake back then.
See: https://steemit.com/sbd/@timcliff/how-to-convert-sbd-into-steem-using-steemconnect
$rewarding 25% 15 min
Oh that makes a lot of sense. Except "$rewarding 25% 15 min" that part I don't understand.
That should cause the @rewarding bot to upvote your comment when it's 15 minutes old on my behalf. Why delay the upvote? Because under the new rules that came into force in HF20, your curation rewards from a comment you have upvoted are partially or wholly lost to the pool if you upvote the post when it's not at least 15 minutes old. As the author, you'd get the part of the curation rewards I'd lose, which I wouldn't mind. But losing them to the pool is not cool. @holger80 coded a helper bot to set this right.
then what do you do with the steem? buy more sbd or just keep it liquid in steem? and yea, what does rewarding 25% in 15 min mean lol. I can't believe I traded all my sbd without knowing this. But this is awesome information.
Then you immediately buy SBD with the Steem. Rinse and repeat. You'll be making profit as long as STEEM doesn't collapse totally and as long as it SBD stays under 1 USD.
I explained the rewarding thing in another comment.
thank @markkujantunen . How do I buy that sbd? In the internal market?
@markkujantunen I tested it with 4sbd. So my question is this: Where do I buy my SBD? Do I go to the internal market and sell my steem for SBD?
And, if I were to sell 2000 steem for SBD on the internal market and then do the sbd trick, how much do you think I will benefit on the transaction if the price of sbd is $.93
You can buy SBD on the internal market or a cryptocurrency exchange or Blocktrades. But please note that I was mistaken about when the conversion mechanism guarantees getting 1 USD worth of STEEM for each SBD burned. Getting that amount stops being guaranteed when the debt ratio exceeds 10% and not 20%. Because the spot prices of SBD and STEEM are already what they are, the 3.5 day average of the debt ratio is certain to fall to 10% in two or three days even if the price ratio does not change. I started converting my SBD a few hours ago and plan to trade any SBD rewards coming to me to STEEM right away without waiting for the conversion. Unless the price of STEEM makes a radical turn upwards, I consider it likely that the price of SBD will collapse in a matter of days.
so you are saying not to do it at this point?
Also, If I have all my liquid in steem at the moment it doesn't make sense to convert it to sbd and then back I suppose.
I'm not recommending buying SBD at this point because the prices are moving so fast.
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thanks. I didn't see it so I thought I was going crazy lol. I really want to learn how to make the most of my steem and sbd. I'm not good with that. I just post and earn and probably don't convert in the most efficient way. Now I'm stuck with 450 liquid steem. But at least I earned that. I bought in way to high and am trying to rescue my money with posting lol