SBD Conversion Removed from Steemit's UI

drakos (70) in steemit • 7 years ago (edited)

View this post on Hive: SBD Conversion Removed from Steemit's UI

7 years ago by drakos (70)

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penguinpablo (75) · 7 years ago

This is a good change, although fortunately most Steemians were smart enough not to use the SBD conversion anymore over the last few days. See my chart:

Source: https://steemit.com/steemit/@penguinpablo/daily-steem-stats-report-is-this-the-result-of-the-overvalued-sbd

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2 votes

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personz (66) · 7 years ago

Great to know

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drakos (70) · 7 years ago

Wow I had no idea there were so many conversions in the past. Nonetheless, conversions were fine as long as SBD is hovering around the pegged $1 USD value. It's even advantageous to convert when SBD is below $1. I still prefer to exchange currencies myself, whenever I want to, without being locked in a 3.5 days time frame.

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valued-customer (67) · 7 years ago

This should help folks be protected from inadvertent losses due to misunderstanding.

Kudos to the devs for doing it, and thanks for letting us know!

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2 votes

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austinhopper (53) · 7 years ago

I definitely missed that boat. Lol

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1 vote

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valth (68) · 7 years ago

What do you mean by that? You still get $10+ for each SBD at the internal market. It was a bit higher a few days ago, but it's still much higher than it used to.

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inquiringtimes (64) · 7 years ago

Yay! (Little things like this make me happy :)

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2 votes

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skeptic (57) · 7 years ago

trippy.

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1 vote

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saywha (63) · 7 years ago

Ah when did this happen? Just had a friend accidentally do that a few hrs ago

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drakos (70) · 7 years ago

The code modification was done a few hours ago. The change is already in effect.

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1 vote

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saywha (63) · 7 years ago

Got it, but all in transition still gonna go thru as it was?

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drakos (70) · 7 years ago

Correct. Although access to the conversion function was removed from the UI, the function itself remains in the system. So, those already in conversion will go through it.

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1 vote

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victorbz (65) · 7 years ago

thank you for this info

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allthereisislove (58) · 7 years ago

100% UP VOTE

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splendorhub (61) · 7 years ago

@drakos Thank you :)

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drakos (70) · 7 years ago

I hope you'll know what to do with those precious SBD 🤑

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splendorhub (61) · 7 years ago

one word...HODL <3

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ammonite (67) · 7 years ago

I see that word coming up alot. What does HODL mean? (Sorry if this is a stupid question)

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splendorhub (61) · 7 years ago

@ammonite great question, I just learn this too. HODL means hold on for dear life :) Best wishes to you.

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1 vote

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ammonite (67) · 7 years ago

Thank you @splendorhub

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littlejoeward (54) · 7 years ago

It was originally a typo when someone meant to say "Hold bitcoin" and they accidentally said "Hodl bitcoin" people thought it was funny and have been saying it ever since to say that they are holding for the long term.

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littlejoeward (54) · 7 years ago

you should sell your SBD because the price will eventually come back down to $1 (that's how they were designed)

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arcrypto (42) · 7 years ago

Yey, I din't know that. That's a great move by the team

Hopefully, I have saved a few SBD by not converting directly :)

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minnyfatty (39) · 7 years ago

Thanks, very informative.

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chicabibliofila (44) · 7 years ago

Very good job, your information helped me, greetings. @drakos

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funatoz (63) · 7 years ago

I am also happy for this change. And its good for all the user and users give high profit and also good for this platform .

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valth (68) · 7 years ago

This is great news! I read in @timcliff's post that they said they did not want to remove the feature from the interface, but I guess they changed their mind when they saw how many people who lost their money. I think this is very good, but I also think they need to add it back if the value ever gets close to $1 again.

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drakos (70) · 7 years ago

@timcliff made a pull request 3 days ago that added a detailed clarification when people try to use the conversion https://github.com/steemit/condenser/pull/2137. It was a good step, but removing it from the interface was even better.

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valth (68) · 7 years ago

Yeah, I remember that @timcliff posted about that, and he also said that the Steemit team did not want to completely remove it, but they must have changed their mind. Anyway, yeah, it's good that it's gone at the moment.

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akilasultana373 (61) · 7 years ago

It's really good news.thanks for sharing.

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enjar (69) · 7 years ago

That is wonderful news to hear. I’ve never understood why someone would willingly choose to use that option unless they had no idea of their options.

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ilovedietcoke (53) · 7 years ago

This is fantastic! I learned pretty quick to exchange it in the market but when I was new, I assumed the market and conversion took were essentially the same. :/

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zacknight (0) · 7 years ago

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Reveal Comment

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hitmeasap (71) · 7 years ago

That's an awesome update and these little things can prevent so much damage and pain. Perfect. Wasn't aware of that so thanks for the update!

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jga (65) · 7 years ago

Very good news, because many people and specialty the new people don't know how it works and could lose money.
Thanks for sharing.

PD: I made an infographic explaining the reward system. I hope you like it.

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bashadow (65) · 7 years ago

I second @valued-customer comment:

Kudos to the devs for doing it, and thanks for letting us know!

and hope several others resteem this. The only way I found it was I got bored and was surfing through all the "Hot" post in the left hand tags.

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josediccus (75) · 7 years ago

I tried the conversion days ago and I nearly went mad I thought I had lost all my SBD

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drakos (70) · 7 years ago

I hear ya. It sucks. I hope it was a small conversion.

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josediccus (75) · 7 years ago

It was 20 SBD lol

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valth (68) · 7 years ago

Ouch, that's a pretty big loss :(

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kubbyelizabeth (66) · 7 years ago

Woohoo, next the 💯 power up concern!

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gentleshaid (70) · 7 years ago

Awesome! I fell into that trap once. Never again

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johnwjr7 (53) · 7 years ago

Thanks for taking care of that before it affected me. I also started out waiting the 3.5 days. I have been doing the market recently though.

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littlejoeward (54) · 7 years ago

eventually it will need to go back. Maybe it should be in a hidden menu or something, otherwise it will lose it's downside peg to $1

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buildawhale (74) · 7 years ago

This post has received a 5.87 % upvote from @buildawhale thanks to: @drakos. Send at least 1 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.

To support our daily curation initiative, please vote on my owner, @themarkymark, as a Steem Witness

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appreciator (66) · 7 years ago

This post has received gratitude of 2.27 % from @appreciator thanks to: @drakos.

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googlee (63) · 7 years ago

Hay I just see this and it's good step. Now people get that expect amount what they deserve and like this step

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