Because as long as SBD is over $1 you will lose value. It only recently came close to $1 but I still don't feel it is "pegged" but more happens to be near $1. A lot of costly mistakes were made with the conversion feature when SBD was worth more than $1.
You are viewing a single comment's thread from:
This sounds like a "Nanny State" type of response. Sure there is an argument for protecting ignorant users when the SBD price is maybe 1.10+ but at the current level there may be genuine non-technical users who would be happy to pay a small premium for the convenience and/or to see the systems debt level reduced.
Right now it is trading at 1.03 according to steemdollar.com. We would probably pay less now using this conversion than an exchange. Blocktrades charges 5%, and I think they are one of the exchanges with lower fees. It would be nice to see it keep within 5% in a bull market as well but this hasn't happened yet. We will see what happens when McAffee's private parts become safe or the next halfening of the blockchain reward for BTC. Which ever comes first. :)