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RE: Thoughts on STEEM-Backed Dollars and Holding the Peg

in #steemit7 years ago

If you are not aware, it is not ideal to be converting your SBDs to STEEM. You will receive much less STEEM using the conversion function in your wallet than you would selling the SBDs through the exchange and purchasing STEEM. This will also put downward pressure on SBD prices and upward pressure on STEEM prices. If you wish to convert SBDS to STEEM, consider using the internal or external exchanges. It would be beneficial for yourself and both currency prices.

Up on this and also, ppl submitting 100% power up posts are missing an opportunity to convert earned SBDs to more Steem and to end up powering up ~33% more if SBD is 2 bucks.