Hello @zoeroces. I had the same sentiments about waiting for SBD to rise before either cashing out or converting to Steem. However, in one of my posts where I discussed the effect of a higher Steem value than SBD value on our Rewards, I received one comment from a @bycoleman and this made my decision to immediately convert my SBD to Steem. I am copy pasting his reply to me:
Nice article Gems.
Good to know 50/50 pays better.
When the platform was first designed, SBD was meant to be pegged to USD --- 1 SBD = 1 USD.
This design was to help keep a stable payment system for investors and authors. But in 2017, SBD starting going up a lot and the peg could not be maintained. Steem was always intended to have a higher price than SBD and this was true until pretty recently (just before we joined.)
There is now a possibility the witnesses will put this peg of 1 to 1 USD back in place. This is kinda of hot topic and you can vote on it if you care to.
https://steemit.com/witness-category/@yabapmatt/witness-update-help-fix-the-sbd-peg
The link to my post is here. I visited the links that @bycoleman provided and indeed there is this issue of bringing SBD down to 1USD. So in the meantime that this issue is not resolved, I immediately converted my SBD's to Steem but didn't power up yet as I intend to cash out for a major expense by next month and I didn't want my holdings tied up to SP which takes 13 weeks to convert back to Steem.
I hope this can help all of you regarding your concerns on SBD's.
Thanks for the mention Gems