Steem Backed Dollars are Below $1 Again - It Now Makes Sense to Do 100% Power Up Posts and SBD to STEEM Conversions
If you didn't know, the Steem Backed Dollar which is only paid out to content creating authors was selling for over $1 for the past couple months. That meant that if you did 100% Power Up posts or were converting your SBD to STEEM using the internal conversion feature you were leaving money on the table.
Many people figured out that it made more sense to send SBD to an exchange and sell it for upwards of $2 you could then buy more STEEM on that exchange and bring it back or just keep the BTC value.
Last week Poloniex finally gave users their STEEM and SBD which had been frozen while Poloniex was experiencing technical issues. This created a sudden surge in SBD selling as tens of thousands of SBD were suddenly dumped on to the market. The result was that SBD is now more appropriately priced around $1.
It now makes sense for authors to once again use the internal features to do 100% Power Up posts and to use the internal conversion feature.
So go ahead an try it out on your next post. Use the Power Up 100% feature and KEEP ON STEEMING ON!
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I was aware of this thankfully but thanks for the PSA!
This is VERY useful as it could mean lots of $ difference. It kinda sucks though too because 6 days ago I was still doing some 50/50 but now that I am getting paid out the value is way down from when it was 6 days ago and I loose out anyways.
Im not complain gin though. I love Steemit and am grateful for the steem I do have!
SteemON!
Well you can do a conversion now to SP but I like the 100% Power Up feature because it gives your post a little added exposure with that Steem logo appended to the title.
Exactly ;-)>
Fine tuned perception u have~*~
Good idea but it might better to HODL and wait til it goes back up... maybe 😂
Maybe it will never go back up. Would you pay someone $20 for a $10 bill?
I'll certainly buy all 19th century $10 gold coins for $20 a pop.
Well, theoretically it's tough for it to get much below $1 for any extended period of time, correct?
If it goes too far below then witnesses will probably put the APR interest rate back up as an incentive to buy and people will start converting it to steem and sell that. So yeah it shouldn't go too far below for an extended amount of time.
Thanks for the info!
Thanks for the heads up.....
I suggest powering up to steem power!
Steemit Is The Way To Go!
Thanks for the advice. I am doing it.
I am so sad steem dollar value is decreased. :-(
Why? It should be valued at $1
How are they making sure it's around $1?
bad news
Why is it bad news? It is a dollar peg.
90 votes for 3.25$ Times changed man !
Indeed!
YOU know you have a great head line when the number of votes exceed the number of views.
Good job