RE: How To Benefit From SBD Being Stuck Below 1 USD?

You are viewing a single comment's thread from:

How To Benefit From SBD Being Stuck Below 1 USD?

in steem •  6 years ago  (edited)

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.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

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.

Posted using Steeve

Thanks

Posted using Partiko Android

Please let us know when you think the sbd conversion trick is wise to use again

Posted using Partiko Android