I had some of my biggest payouts ever in the past couple weeks. Turns out I turned them into about 1/10th of their value with the click of a button that I was encouraged to use when first signing up on this site.
This site is way too complicated for the everyday person. People glaze over when I try to explain to them the parts of its workings that I understand. And I don’t even understand enough. For instance, I just learned about the stupidity of the “Convert to Steem” button.
Turns out, if you hit the “convert to steem” tab, you just threw close to 90% of your payout down the toilet. This is because SBD is worth a lot more at this time than Steem. Why would anyone knowingly want to throw away their earnings? Why would there be a tab that does this without a very clear warning to all users? Why does this tab exist at all when there’s also a MARKET tab which gives you what you deserve when you convert?
It’s things like this that will keep the steemit community from proliferating, and this makes me sad and frustrated, but mostly...
Pretty, pretty angry.
TRAVELMAN’S TOP TEN MORE APPROPRIATE NAMES FOR THE CONVERT TO STEEM TAB
10 Throw your money away
9 This tab is here to keep the steemit community from proliferating, please click it.
8 Click this if you think you only deserve a small portion of this payout.
7 Please click this tab that should have been done away with long ago.
6 Click the market tab instead
5 Never touch this tab.
4 Click if you hate yourself and feel undeserving.
3 Ridiculous and unnecessary option.
2 You’ll regret pushing this.
1 Click here if you want to feel like an uninformed sucker in a few minutes.
...Really, why?
"Click here if you want to feel like an uninformed sucker in a few minutes."
Cant agree more .
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I believe that SBD will go down soon, I think that the reason of why the SBD is so high now. Simply because the Korean market just recognized Steem as a tradeable token.
SBD designed to hover around the US dollar by default. But i think because of the demand of the korean people the price just sky rocketed.
I'm pretty sure that some people simply buying the wrong coin, SBD instead of STEEM.
But i still understand your frustration, It is sucks to be honest.
Just hope that STEEM will rise in the future and you'll "get your money back".
Cheers roma,
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From what I understand, there is a limited amount of SBD, but new steem can be created. It seems to me that the one with a limit will ultimately be of more value. I’m not an economist, so I’d love someone to school me on this, but that’s my thinking right now.
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If what you're saying is true.
Then it's so hard to predict or know of how much you're really earning.
You basically have to be an economist and a creator at the same time .
That's the only thing that i don't like about this platform, It's so hard to explain to a day to day person how the whole payment system works on Steemit.
We need Steemit for dummies!!
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Btw are you in Bangkok? I’m in Bangkok on Khao San road until tomorrow.
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Steemit for dummies, or better yet they need to simplify the platform. Like I said in my post, I’ve failed on getting people interested in steemit because as soon as they start asking questions we fall down a rabbit hole of ways you get paid and where the value comes from. I saw the limited number of SBD thing in a post from @agroed who I think is a source of trustworthy info.
I love this platform... And I hate particular aspects of it. I also learned from the @agroed post that 95% (give or take a bit) is owned by like a handful of people! That’s messed up. Just as messed up as the world economy. This place is actually very reflective of the economic distribution in the world. I’m here to record my journeys around the world and get the bonus of making some dough on here in the meantime. I just want what I deserve though.
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That's usually where i get stuck explaining to people on why it's the future, This is just too damn complicated for the simple person.
Nah i'm still in Chiang Mai, I'm going to be here for a year. So if you'll be around you can contact me.
One more thing how can i actually contact a person on Steemit ?
I never thought about it even...
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Steemit chat which I’m not that savvy with. Also there’s the discord group chat rooms. Search those and articles will explain it better than I can. Won’t be in Chaing Mai again for an undertermined period of time. Heading out of SE Asia.
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Thanks bro and good luck!
Looking forward for future travel adventure blogs !
Stay safe!
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You can also transfer a little amount (ie. 0.001 STEEM) to a person, and in the memo you can include whatever text you want.
It's like a "paid" DM service.
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The ONLY way SBD is created is from content running through the blockchain and getting upvoted. This is why it has value and why we, as content creators, should be posting like fiends right now. No one else can make sbd but us.
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I agree on some people are buying SBD instead of STEEM.. I
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As long you dont make the same mistake five or six times, I guess you are ok ..but still..I had a laugh 😁
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Thanks... I think. LOL. I think I did make this mistake multiple times over the past couple weeks. I didn’t care that much about paying attention to payouts because I only got decent payouts occasionally. They’re thankfully coming more often and it made me perk up to what I could lose.
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Great content deserves recognition and I am happy you are at this point! I hope 2018 brings you even more and then you can buy me some well deserved gifts because I am here since the beginning on your journey 😂 😂 😂
Much love ❤
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This sucks, indeed. From what I understand the 'convert to steem' operates with SBD pegged at around $1, but the internal market uses the real SBD market value...
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Yep!
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This is awesome! It went from being useful and informative to downright hilarious... Having just clicked that button a few times last week, now I am clicking myself, I mean kicking myself!
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I didn't think it works that way, but I'm still new.
You need to tell us what conversion rate it actually gave you vs what the market was offering, otherwise your complaint doesn't mean much.
I used the market because the conversion supposedly takes 3 days...
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Look at my last post. I lost a lot of money. Look into it.
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Thanks for this info. I'd read some vague comments about this issue, but did not understand much. This clarifies a lot. (Resteemed)
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Do you mean if you go to your wallet, click "transfer" and then select your own Steemit account you lose 90% of it after the waiting period?
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It was the “convert to steem” button. The point is now moot because due to so many stories like mine, the powers that be of steemit have removed that button. I’ve never used the transfer button so I don’t know how that works. I’m going to the market from now on.
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Oh ok, thanks for responding. I got nervous because I just did that.
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