What do you do with your SBDs?
You know what grinds my gears? Steem Backed Dollars. Why, you might ask? Well, it is a personal thing.
I find it a nuisance. An extra currency that dilutes the value of my Steem tokens. Don't get me wrong, I understand there are uses for them. Businesses most likely run better with a pegged asset even though SBD is not always at $1.00.
Trust me, I am not the only one who's had negative thoughts about SBDs. Remember @sircork? Yeah, he was not a fan of it either. That's story for another time, though.
So, what do I do? Nope, I am too cheap to burn them via @null, so I convert them to Steem. A conversion removes the SBD from the system and put Steem in their place. It is a slower, but also profitable strategy like trading. Ask some of the bigger traders like @smooth about it, they know better.
Of course, conversion takes 3.5 days to complete and you are at risk for price fluctuations. For me, it is not an issue. I sometimes keep a small amount around as pocket change. For the most part, I want my SBD balance disappear because I am weird.
What do you do with your SBDs?
Poll is open for a month and you may choose more than one options.
- Use them just like Steem
- Trade them into Steem or other currencies
- Convert them into Steem
- Burn them at @null
- HODL for future pumps
- Other (please specify)
Answer the question at dpoll.xyz.
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I guess I only just learned about conversion. How do I go about conversion? I cannot find anything in the beem-package about it. It appears that I cannot use the wallet to do it.
Use SteemWorld or SteemPeak to do it
Dear @enforcer48
I've been always wondering what is causing demand and supply for SBD. Any idea?
I'm no economist, but given the right circumstances, you can make money by converting SBDs into Steem. Especially, when SBD falls below the $1.00 peg.
Supposedly, SBDs ease the sell pressure on Steem, or so I was told. Point being, it's meant to be a stable currency.
Dear @enforcer48
I've think never actually thanked you for your previous comment. So let me do that now: BIG THX buddy :)
Cheers, Piotr
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I sold 20 Sbd for around 60 steem on the internal market and for 20 sbd convertion I only got around 35 steem :/
But yea lowering debt by erasing sbd is good and there should be more and better ways to do it.
Oof. Sorry to hear that.
SBDs do have their uses in terms of slowing down sell pressure, but yeah, there needs to be better ways at doing stuff.
Yea. Really pissed me of at that moment..
Worked hard for these sbd.
Anyway
Posted using Partiko Android
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It is the right time for buy.
It is indeed!
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Do you think SBDs will pump again?
eventually it will find its way back to $1
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Mostly on the Internal Currency Market.
Once (on 2018.04.26) I exchanged $88.055 SBD to 0.0314594 Bitcoin (BTC) with Blocktrades and with Coinbase.
I sold that Bitcoin (BTC) for €229.39 EUR on 2018.04.26, 20:40 CEST, and then my bank converted to my local currency, which is Hungarian Forint (HUF) (Ft).
This Steem Dollars (SBD) transaction was worth 72 320 Ft at the time, but I withdrew more to my bank account, because I also sold some Steem.
Would you say you got your money's worth?
Yes and no, but unfortunately not really.
My brother made a lot of debt, and because of that I paid a few expensive bills related to house keeping (electricity bill, gas bill, house insurance bill), and I also bought some food with most of these earnings. I kept only a small percentage of that money.
Rough, but I'm glad the SBDs are keeping you afloat.
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Convert them if the price is below 1; else trade them into steem. And then power up into steem power.
It's a good time to do it!
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I actually spent it on steemmonsters cards lol
You aren't the only one!
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Converting SBD to Steem back in ol’ 2017 when the exchange was good, helped me rise up. (Thanks @kpine)
I'm glad you benefited from it. Serious.
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I just sell them at the market for steem.
But how does the convertion tool thingy work?
Check out my response to @daltono here.
Alternatively, you could use SteemPeak.
Ohh cool thanks!
Gonna look into, not that I get a lot of sbd :p
Posted using Partiko Android
!CHOPS 2
Posted using Partiko iOS
I have positive thoughts about Sbd, because he showed a needle on the market a while ago.
Posted using Partiko Android
Wanna link me to an easy way to convert my sbd?
SteemWorld is pretty good for it. It also uses Keychain now, so makes it a bit more secure to use.
Your profile link would be: https://steemworld.org/@daltono
Ok great. I am very aware of SteemWorld, I however did not know they had a convert feature. Thanks a bunch for the help!
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Thanks for contributing to the dPoll content.
You have been upvoted from our community curation account (@dpoll.curation) in courtesy of This Guy... @bluerobo.
Come, join our community at dPoll discord server.
If you want to support dPoll curation, you can also delegate some steem power. Quick steem connect links to delegate:
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Hi enforcer48, this write-up was particularly meaty, fulfilling, wholesome, beefy and deserving of a CHOPS token. Don't Chomp on it all at once!
To view or Trade CHOPS visit steem-engine.com
Author's note: this post is purely an editorial and does not discuss the positive aspects of SBDs.
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I trade them for Steem on the internal market, so they do not get burned. I used to save them up to buy stuff, but I would rather power up right now.
I convert most of my SBDs because I am weird.
I have never burned any I don't think. Even if I had, it's probably in my early days.
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@steemmonsters cards :)
Legitimate.
You're a piece of shit enforcer!
Speak. For. Yourself.
You work with a guy that looks like a school shooter living in a basement named @stimialiti.
This is not the road you want to go down.
I don’t work for anybody, and I don’t care what people look like on the outside! I never even look. I can only see what’s on the inside of people! You are sick, I feel sorry for you! Now go away!
Horseshit. As if you know anything about me.
You come to MY post libeling and you think you can get away with that?
Go away yourself, you sick fuck. Stay away from the community with your toxicity.
I'm here 4 good fuck head! piece of shit libel this! What's done is done! Time a ticking! This is my community too! You all are trash, out with yo!
Anyway in your profile pic you look like an ugly monkey! I don't know what that is. Maybe if we're lucky you will croak soon! Spell casted!