@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.
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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.
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I'm not recommending buying SBD at this point because the prices are moving so fast.
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Thanks
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Please let us know when you think the sbd conversion trick is wise to use again
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