Take the "Steem Dollar" Challenge! I Dare You! Ha!
FIRST STEP - WRITE DOWN THE NUMBER OF STEEM YOU HAVE BEFORE CONVERSION
Here's what the conversion window will look like. All you need to do is hit the Convert Icon to get to the next window.
Here's the window after you click on the Convert icon. Now enter '1' Steem Dollar (SBD) and hit Convert!
Better sell your SBD on exchange and get 3x amount of dollars for them (at current prices). By doing the way you described above, you will get 1 dollar worth of Steem after 3.5 days. This is clearly not a good choice right now.
That was the challenge. The following day was Challenge 2. Also, many disagree that SBD are burned on conversion. Anyway, trading can be very delicate. The best resolution in my opinion is to buy STEEM with $SBD and then trade the STEEM for whatever crypto you want. I just bout 473 Steem for $69 SBD. The Steem is trading now at $1.85 US. You do the math. I'm not advising. I'm not a professional financial advisor. Just relating to you an anomaly I uncovered re $SBD.
Before I do that let me know whether I am angry after it as I have not done it vi the internal market :-)?
Right now SBD are valued at $3.30 https://coinmarketcap.com/currencies/steem-dollars/
You think you have a SBD at $1.00US but in fact it is valued at $3.30 when converting to STEEM. No idea why SBD is on a roll! The rest you need to put together for your self. I'm not an investor advisor.
all good points and I like the way you get some exercises started
Trading can be very delicate. The best resolution in my opinion is to buy STEEM with $SBD and then trade the STEEM for whatever crypto you want. I just bout 473 Steem for $69 SBD. The Steem is trading now at $1.85 US. You do the math. I'm not advising. I'm not a professional financial advisor. Just relating to you an anomaly I uncovered re $SBD.
yeah my first thing was i use the internal market i never use that. plus ever bit of sbd i've been just converting to steem and then steem power on the internal market. what am i missing here you got me intrigued ;)
Yes. I'm just demonstrating there is ananomoly here that one may be able to take advantage of. Tomorrow I was going to do a 'market sale 'of 1 SBD so you can compare! But I think you get it! I';m not expert and not giving investment advice. Just helping you compare internal and market!
i love the action. smart.
Trading can be very delicate. The best resolution in my opinion is to buy STEEM with $SBD and then trade the STEEM for whatever crypto you want. I just bout 473 Steem for $69 SBD. The Steem is trading now at $1.85 US. You do the math. I'm not advising. I'm not a professional financial advisor. Just relating to you an anomaly I uncovered re $SBD.
yep i've been doing exactly that thing since i saw the hike up, just wish i had more SBD in the reserves! :) cheers.
Just did it again today... 473 steem for $66 SBD! :)
it's pretty amazing right, get that steem up, i'm splitting my SBD earnings between powering up and taking out so i can upgrade my camera quality for 2018. loving life right now! :)
And we all should... always!
nice post but i don't even have one Steem dollar yet help me out and give me a upvote so i can try lol
It's just a test to demonstrate options available. I doubt SBD will be at this value long.
it should not - depends on Korea and its pumping crowd though
For the future: Trading can be very delicate. The best resolution in my opinion is to buy STEEM with $SBD and then trade the STEEM for whatever crypto you want. I just bout 473 Steem for $69 SBD. The Steem is trading now at $1.85 US. You do the math. I'm not advising. I'm not a professional financial advisor. Just relating to you an anomaly I uncovered re $SBD.
I've never tried the option of converting SBD to steem. But as others have said, the burning of the SBD and creation of steem should drive the price of SBD up and the price of steem down (in large quantities). Will post back in 3.5 days with an update 😊
Some believe SBD's are not burned on CONVERSION. Trading can be very delicate. The best resolution in my opinion is to buy STEEM with $SBD and then trade the STEEM for whatever crypto you want. I just bout 473 Steem for $69 SBD. The Steem is trading now at $1.85 US. You do the math. I'm not advising. I'm not a professional financial advisor. Just relating to you an anomaly I uncovered re $SBD.
Tomorrow I was going to do a 1 SBD 'market sale' challenge. I'm not advocating conversion. I wanted to point out the anomaly here with SBD. The damn thing keeps climbing an no one has come up with a good reason why that I've heard.
Ah I see. So you're trying to demonstrate the difference between converting internally and selling via open market. The difference being that selling on the open market is more advantageous, correct?
ok I did it - burning SBD - good move @brian-rhodes in view of increasing stability of the Steem / SBD relation I would say.
ahhhhh
It's just an exercise which is is why ONLY ONE conversion - to help understand the relationship between the two and the difference in an internal. Tomorrow's was to be selling 1 SBD on the market to compare the two.
ah got it, crazy day, sbd at $5.53 wow.
Ahh that's what happens.. I sell SBDs and the price goes up 132%!
The story for most of us! Ha!
I found a few more under the sofa, happy days!
Ha!
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I think that as soon as the Steem Dollar is maintained at this price it will be favorable because maybe in some future, if God wants, it can surpass the ordinary dollar or the best market strategy to increase profits, investing as much as possible in all the Steem Power that can and then do other strategies to increase the percentage of profits as time progresses
since 2 weeks I am selling every sbd I have for steem. even if it is 1 steem.. the current prices will not last so It's the best deal you can make on the internal market..