The SBD is now less $1, and the convert SBD to Steem is already removed in the wallet, how do we convert the SBD that peg $1 to steem?
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The SBD is now less $1, and the convert SBD to Steem is already removed in the wallet, how do we convert the SBD that peg $1 to steem?
I'm currently running a test with this tool on my test account. Convert has started since yesterday. Know more in 2,5 days but I'm sure it's fine because I can see it in the blockchain.
Here is the original post: https://steemit.com/utopian-io/@mwfiae/new-project-sbd-converter
Hope you are willing to support my witness group @blockbrothers with a witness vote.
You can also use CLI-wallet for those concerned about the security of their Active Key.
The command is convert_sbd username "1.000 SBD" true.
I put some conversions through when it dipped down to $0.95 today.
So probably the best sign of trust I can get :)You can also check the sourcecode or trust @therealwolf about it. He does promote my tool sometimes and he is a well known witness and owner/maker of smartsteem :)
The biggest security concern is prob the RPC node in terms of your program, which is the same concern as with the CLI :)
Why would the rpc node be a concern regarding security?
The key never enters the node as far as I'm aware and all the encrypting/signing does happen on client side.
Please correct me of I misunderstood anything.
It's surprising how little convert is currently being used. Think they need to add it back to the interface ASAP or risk the whole pegging mechanism from collapsing due to the silly mistake of having convert removed from the user interface.
To be honest as long as a few people know about it, the pegging will work. :)
But yeah it is an advantage for the more techy/experiemced people, that's why I made the tool mentioned above :)