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RE: STEEM DOLLAR Will Fall To $1 USD : Here’s Why
Are you saying that the only way SBDs are destroyed is when authors choose 100% Steem Power as their payout selection?
No, steem has an option where you can "convert", destroy 1 SBD and create $1 of steem. It doesn't show under your wallet on steemit right now to protect folks.
Thanks, that's weird, I have never seen it.
I almost used it when I first switched off 100% power up when sbd first started rising. Thankfully I saw someone with an all caps warning to use the market instead.
Oh, okay, I think I actually know what you are talking about. Is it that process that takes 7 days? I did that a few times until I discovered that the internal market is much quicker and apparently offers better price conversion.
3 days I think, but yes that's the one.
Yes, but its that locked in price conversion that provides the floor. If SBD ever goes below $1, you could buy it up and convert it for profit.