Many of us have been holding some SBD from quite some time. If you are hodling SBD in hopes of it going up but now want to pick up some STEEM instead, you can easily do it by using Steemit's internal market. You can get almost 1 STEEM for each of the SBDs you are holding so I suggest you make use of the opportunity right now.
Point is STEEM is everything that you need and that's the token worth holding and powering up. I've sold my SBDs time and again to buy STEEM and that's worked out the best for me.
You can easily change your SBD for STEEM and when the prices go up your influence on the blockchain too will rise. It won't happen when you hold SBD. However, if SBD itself is near or under peg of $1 then it makes sense to hold it because it might rise a little providing some profit. However, it's value in USD doesn't matter much if it drops value in Satoshis when rising in USD.
So keep these things in mind when you decide to hodl it long term. Market makers do it for their own reasons however most small users need STEEM to participate here.
@themarkymark has a post every new user must read to understand and if you are still wondering why SBD should be at peg then you can read some of the top comments here. So be sure to read these two posts and the comments in order to grasp our platform and it's functions in a better way.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Let's Watch This Fun Video From International Steem Meetup #1—Malaysia
- Why You Should Vote For @firepower As Witness—Witness Campaign Post From India!
- Steem.Chat Contest #38
I’ve been holding sbd too, it prob won’t moon again until another true crypto bull run. I have noticed sbd payouts ratio is very low right now, meaning there could be a sbd shortage again?
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Could you suggest the best platform to sell Your SBD for steem.?
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It's either https://steemit.com/market (direct for STEEM) or Bittrex (via BTC). Those are the only two.
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Thanks @firepower
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I had been saving my SBD for this exact very moment. Then something happened.
Basically steemfest III was announced in July and I would be using my SBD to fund my stay at Krakow. The only reason I can even think about going to steemfest is because that I am living in Poland these days. Considering my financial situation I cannot really afford to travel within Poland unless I do it in group and share expenses. Nevertheless going to Krakow alone would still need some money and I am hoping to use my SBD for it.
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I havnt been on steemit that long so this is the first time im seeing SBD being removed from circulation. Its an interesting dynamic having the two currencies working to kind of maintain and equilibrium and you can earn something from the constant imblance between the two is pretty cool too. for now im just happy to get more SP for my efforts, growing my influence is my #1 priority
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Sounds like a good idea cheers. Thanks mike
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I was lucky and I sold most of my SBD in December at 0.15 SBD per STEEM.
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Same here. :)
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Hi @firepower can you tell me why steem has stopped paying sbd's ? are they gonna stop the sbd ?
and should i convert it to steem to prevent loss ?
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I noticed this too.. I thought it was just a mistake
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I don't think its a mistake there might be a reason behind it
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good advice, thank you @firepower for sharing knowledge and providing very useful advice
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I always sold all my SBD earned for STEEM and after that I powered up. As a minnow with only 100 SP that seems like the best decision for me. All in on Steem Power.
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Great points! Either way, I think it is a perfect time to get into Steem for those that haven't already. It is so inexpensive and I have no doubt in my mind that it will rebound and we will see the market turn back to the upside! It is just a matter of time!
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I knew something was wrong or at least changing...
11 days ago I posted this talking about the internal market: https://steemit.com/market/@diogosantos/internal-market-view-or-what-a-struggle
And right now it is looking like this!!
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It makes sense totally to hold Steem. Some users are unshaken about the sbd peg and seem to be unfazed by the potential consequences. I've read the velocity hard fork 20 and I think it's a step in the right direction.
The only sad thing is, I converted my sbd to steem at an unhealthy ratio
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@firepower Hello my sir how are you .very good job sir . Thanks for sharing your marketing post., for giving you such a nice news to us, this post is very nice. Sir, I do not understand how I do my sbd.
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STEEM and SBD are very close in price now. I think it's a good time to exchange all SBD for STEEM. STEEM is on more exchanges. Makes sense.
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Already onto it...either to exchange or to use in c9ntent promotion as per markymark...so tried few in post provide ption and now next to convert in internal market
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You are right on the money. I've been waiting for the same type of opportunity....
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I have a decent amount of SBD right now...feeling like I’ll never get the 1 to 1 ratio for quite some time. Never the 3 Steem for 1 SBD we had at one point! I should convert it but I’m also nervous to...
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Only rise in value of STEEM will benefit everyone not SBD.
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Oh I agree for sure. It was short term good to stack Steem quicker before hopefully Steem goes up soon!
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Sorry sir But I don't have any sbd
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You are a right person whom I can believe, you have vast experience in dealing with steem or sbd. I too think it may be the right time to change SBD to steem. But I have not changed yet as I don't have any previous experience of changing it... thank you for sharing this article.
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I liked finding this post, I understood your explanation clearly. I have struggled to understand the dynamics of the network. I will read the post that you recommend. Thank you. Nice to meet you.
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It's a great opportunity and I can't deny it, but I'm a little bit insecure because I converted my SBD to STEEM when it wasn't the best moment (I was new, and I didn't know) and now I don't feel like I want to take the risk again..
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While you may lose a bit in the conversion to STEEM it’s never a bad option if you in it for the long run! Powering up gives you more incfluence, stronger upvote, more curation rewards and it’s exponential growth! I really want to get it to 500SP soon
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@claubzs Just to be clear conversion technically speaking is a separate process where SBD gets burnt when you receive STEEM. They have removed that option from the wallet temporarily although it's still available on blockchain via CLI_wallet for example.
https://steemit.com/market allows you to sell SBD for STEEM. :)
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Yeah this time every Steemitian is panic with SBD. I read a blog by @themarkymark and in that Blog he is explained everything about SBD, Steem and Steemit. Yet most of the users are panic with their weekly payouts..
SBD is crashing down following Bitcoin trends..
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can we see Sbd again over $10 ?
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STEEM will be in trouble if SBD were to rise that high ever again!
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For some financial reasons I have been holding some sbd and steem in liquid form,but I am becoming bored ,because every day the price of both token has been decreasing . I would like to ask you do I convert all the liquid token in sp now,or not?I have some financial needs too,so I am little confused,the same value of both the coins ...what to do?Will you like to suggest me dear ?
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if you need to sell, hold it in liquid form. SBD is likely to remain at $1 if the market continues to drop.
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In despite of why SBD should be pegged, the system does not work as it is designed.
If it would work like it is designed then you might want to consider to hodl your SBD. Cause when the Steem price drops below $1 you will receive more than 1 Steem for each SBD. Did you consider that option?
I personally believe that the SBD price will keep decreasing of the whole crypto market keeps decreasing.
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assume, bitcoin price value drop to 0, then what happen with steem & sbd?
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@firepower does this mean that prices will boom soon?🤔
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Not necessarily. Depends which way Bitcoin goes. It's the king of crypto and everything follows it.
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