The current SBD:Steem ratio is 0.746490, which means you get 1 Steem for 0.746 SBD. This is a fantastic opportunity to get more Steem out of your SBD. I start trading my SBD when I see a ratio of 0.750 or better.
I'm holding my SBD for the next pump
I believe we will see another SBD pump in the future. I don't see it being anywhere near what we saw in 2017. Last year, a new Korean exchange Upbit listed Steem & SBD. At the time we only had around 1,000,000 circulating supply, we now have fifteen (15x) times that! The chances of another SBD pump like that is extremely low.
SBD is still only loosely pegged, and a Steem run would cause SBD to climb as well.
To trade SBD or Convert
Right now the only option to users using the Steemit.com website is to trade on the Internal market. This allows you to sell SBD to Steem for a predictable rate. It does not, take the SBD out of circulation. To remove SBD from circulation, you need to use the convert function. The convert function is currently not available through the user interface (UI).
Using the conversion method to convert your SBD to Steem will take the SBD out of the circulation. This will help reduce our debt ratio as well. There is also a slight advantage due to SBD being lower than $1.
How to convert SBD?
Using CLI Wallet
For most users, the easiest way to convert SBD will be using Steem Connect. If you are comfortable using the CLI Wallet, issue the following command to convert SBD.
convert_sbd themarkymark "1.000 SBD" true
Change the username and SBD amounts. You need to have your active key imported before you can issue the above command.
Using Steem Connect
While this method is easy, it isn't user-friendly.
You want to edit the following URL to fit your situation.
https://steemconnect.com/sign/convert?owner=themarkymark&requestid=1&amount=1.000%20SBD
You will need to change themarkymark to your username. You will also need to change the amount 1.000 to whatever amount of SBD you want to convert. It needs to end with %20SBD, this represents a space and then the three characters SBD. The request ID needs to be unique, if you have any other running conversions, increment this number by 1. If you already have a conversion with a request ID of 1, make it 2.
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Steemworld has a GUI interface for converting, it's much more user-friendly than either the CLI or SteemConnect methods.
Thanks for the heads up. Just gave the SW interface a try for a conversion. Very easy to use.
Got a link? I've had a powering up guide for new folks rolling around in the back of my head.
It's steemworld.org/@username. Go to Balances and Convert SBD.
Thank you! I was able to use Steemworld super easy! Very helpful.
Yes right it good time.
Turns out 2 days later is an even better time to trade SBDs for Steem ;)
convert uses 3.5 day market average.
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Am not sure am gonna trade, am going to leave my sbd just like that. Though j know how to exchange it on steemit site by just clicking market.
Sbd has finally become the stable coin of all Steemians.
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More fake Q-Anon - Rothschild agent - SBD - Bitcoin - scams EXPOSED:
https://busy.org/@motherlibertynow/bitcoin-is-a-scam-set-up-by-pentagon-hc-on-diego-garcia-island
https://busy.org/@motherlibertynow/jeff-sessions-firing-by-trump-proves-fake-q-anon-fraud
◦
Thanks bossman, I never knew you could do it like that on steem connect!
The steemconnect convert API is badass! So much easier than how I have been doing it.
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It is a good time to do it, but on the flipside, SBD has become our very own stablecoin, probably in thanks due tocthe witnesses tinkering and so Id personally suggest a more measured approach rather than simply converting the lot into SBD ...but if you have Steem Power you can delegate into great projects and....
Oh I wish you'd shut up with your sensible advice, I'm in a quandry now!
And here I thought I had to exchange my SBD on the market before I could power up. You learn something new every day!
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It's to be hoped that SBD will never again "pump" - "stablecoins" are one of the biggest opportunities in the crypto space and attract a lot of investment and attention. We have one of the most advanced stablecoins in the space - even if it's only as robust as our eco-system. We should all hope it stays within a -5% / +5% band and doesn't pump.
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Too much liquid Steem out there and this boost the pressure on the price.
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yes, agree with you , a good time to convert sbd to steem ,make your sp bigger .
It's a fantastic idea. Will do for sure.
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Fantastic post Mr. Mark and great suggestions with good snaps. I particularly love the cat gif at the bottom. love.
I just use the Internal Market on my Wallet ...
That does not pull the SBD out of circulation
It is never a good idea giving this kind of advice. Luckily I changed my SBD now, for 0.50c exactly. That is a huge difference.
Were you hoping Steem would go up in value? I saw no indications it would do so, which makes me wonder where you got your info from.
Oh well, as they say, it is all a gamble, sometimes we win, but usually we lose.
It's never a good idea to give any advice because someone always disagrees.
I will always trade SBD to Steem when I see I will get a lot more Steem for my money. Is it ever the perfect time? Not likely, but in the long term it will pay off.
Super helpful and easy method. I was under the impression that this was a bit of a difficult process lol.
I like the idea of this, good shit.
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