You are viewing a single comment's thread from:
RE: Converting SBD to maintain the $1 peg
I read that Steemit eliminated the convert to STEEM option because many users did not understand the operation (wait time) and were actually using it when SBD was higher than $1 which would result in losses for the user so they they opted to eliminate it. Look forward to see your results as it seems like a great arbitrage opportunity.
I seem to remember reading somewhere that it remains risky (because of the 3,5 days cool-off period) and is not recommended unless the price of SBD goes below $0.95 - which was the case here. But we shall see ...