Here's a short instruction
- Sell your SBD over $1
- Buy STEEM
That's all!
If you don't want to expose your original money to risks, here's a good practice. I will show you with an example. Assuming you have 10,000 SBD and the price is $1.3
- Sell 10,000 SBD and get 10.26 BTC ($13,000 value)
- Withdraw 7.9 BTC ($10,000 value)
- You now have 2.36 BTC. Buy STEEM with them.
What's the benefits? First, you will help SBD pegging. Second, you will increase STEEM price. Third, with increased STEEM price, more SBD will be printed and hence there will be more SBD supply. This helps pegging again.
Please comment your proofs here (or just say "I did!"). All SBD rewards on this post will be sold for STEEM and these STEEM will be burned.
I wrote a Chinese post on this (your 2 posts cited). Thank you for the notice!
https://steemit.com/sbd/@deanliu/sbd-100-power-up
Thanks!
Sold $100's in SBD today. Will be buying STEEM and some other crypto to be diversified.
Sold all my SBD today, was only 5 though
I didn't even have 1 to sell! I'd just bought up some LTC with it yesterday.
@shayne
I will try, thanks @clayop
The last time SBD pumped, I sold 300 SBD and immediately set a buy order closer to $1. Today I sold another 70. I was happy to find my buy hit and I had 362 SBD which I sold today also. I didn't buy STEEM with it yet (though that's a good idea), but instead am holding the BTC with my buy orders set for when SBD comes back down again.
Steem always goes down in an irrational SBD pump. Due to arbitrage pressures.
Better to get out to btc.
That's not the case now.
Internal Vs external will always have an inefficient lag during crazy pumps.
Definitely still is an issue in extreme cases.
Can you prove?
What you mean with internal?
SBD stayed at somewhere between 1,1 and 1,2$ at Poloniex, that is not internal in Steemit.
Currently SBD = 0,00097589 BTC and BTC = 1276,29 US$ > SBD = 1,2455 $. The lowest since last pump SBD = 0,000952 BTC > SBD = 1,21 $ (since the low hit twice in last couple of hours but jumped of again, I used BTC value 1276,29 $; Maybe BTC was more like 1273 $ but that does not change te picture for SBD value to much). On Poloniex almost no trades in SBD and not so many (in value) open contracts; Total buy order for 0,0009 and higher of around BTC, for 0,0008 and higher around 38 BTC and total around 70 BTC.
SBD was quite above 1$ between the pump before this one.
Curious - how can Steem be burned?
Transfer to @null
certainly not this way... lol
https://steemit.com/steemit/@deanliu/alternative-sbd-that-you-don-t-want-sbd
(don't upvote, very old post)
Burned reward (110 STEEM)