I have been here long enough to know the difference, and I made your same mistake...22 SBD for 13 STEEM, OUCH!!! I feel your pain brother.
@mattclarke wtf is the point of the 3.5 day waiting period if the conversion is going to sit around 1:1 regardless of the market price? I thought the time delay was to account for people trying to dump SBD 'on the spot' at the current rate?
That is a really nasty pitfall to avoid. I did get lucky in leaning the lesson while very young. This week Im just trading every wee bit of SBD I can earn...as opposed to two weeks ago where I was converting :(
I woke a few others up to it as well, being the big mouth I am
No. It just states the steemit price, which is where you sold it.
That's why if the SBD price is higher than 1$ the wallet's converter will give you a bad deal.
Well, I learned my lesson.
I have been here long enough to know the difference, and I made your same mistake...22 SBD for 13 STEEM, OUCH!!! I feel your pain brother.
@mattclarke wtf is the point of the 3.5 day waiting period if the conversion is going to sit around 1:1 regardless of the market price? I thought the time delay was to account for people trying to dump SBD 'on the spot' at the current rate?
That is a really nasty pitfall to avoid. I did get lucky in leaning the lesson while very young. This week Im just trading every wee bit of SBD I can earn...as opposed to two weeks ago where I was converting :(
I woke a few others up to it as well, being the big mouth I am
I believe it's there to stop day trading and panic runs.