I just cashed out 429 SBD. I was expecting to get around a thousand dollars for it, because of the price SBD is at right now according to most crypto price tracker websites. I heard somewhere a long time ago that Poloniex is the exchange Steemit bases the on-site estimation of your total account worth on. Is it not? If so, why is it at odds with what my wallet says my total holdings are worth?
What I got instead was $742 USD. That's not cool. SBD is at $3.16 USD per coin right now on coinmarketcap. It's at $2.39 on Poloniex (Edit: I'm stupid, it was actually $1.84). I should not have to cash my SBD out to find out how much I'm going to get for it. I should have that information in my wallet, available before I cash out.
See where the red rectangle is in the image? That's where I want to see a realtime figure representing how much you'll get for the amount of SBD you have in USD or whatever your local currency is. I am tired of consistently getting way less for my SBD than any of the exchanges I know about say it's worth. I need more predictability.
I'd also really appreciate it if somebody could clue me in to what exchange Steemit actually bases those figures on, because I can't for the life of me figure it out and I just blew a month's earnings for a measly $742 because of it. I'll be eating a lot of ramen for the next few weeks.
This shit isn't okay
@alexbeyman,
SBD rise due to HitBTC! But personally i don't believe HitBTC! So, probably SBD price around 1.84 USD now!
Cheers~
@alexbeyman
Steempayout.com shows you the exact amounts you will be withdrawing and the exact time. I hope this helps.
Hitbtc manipulation on sbd sir so its average price is more.WE cannot enter into hitbtc now sir its so frustation.
Alex - Keep SBD in STEEM form... I heard people start talking about SBD needs to peg to $1... So keeping SBD always makes little risk...
+W+
This is why I always convert sbd into steem before cashing out
Yes absolutely I agree. I saw the price of SBD too , it is showing 3.35 as of now but when you convert it to steem it's shows even less than the price of steem ,less than half.
To do that, they'd have to peg the rate off of one exchange. CMC shows the aggregate of all the exchanges, and using that on the SBD line in our wallets would be equally risky for misinformation. It's best to not go off of that as obscure exchanges can skew things. Get the live look from an exchange before making moves. Worst case you can always undo the swaps at the cost of a little bit of trading fees/price movement in between.
Undo a swap? How?
Meant buy back your BTC>SBD and hold until the price gets higher, if you were unhappy with the price you sold at. (If you didn't already send to bank.) The prices for both haven't moved much so there might not be a noticeable loss in your SBD.
Either way, better than wasting it all on digital RPG cards.
Probably that's what I will end up doing.
Poloniex is showing at $1.84 for me on coinmarketcap. The only reason SBD is at 3.22 overall is because of that one exchange. Didn't even realize it's somehow at $34 on there when it was only $12 yesterday.
Oh, I see. Nobody told me this stuff but I guess that's where it says what the value is on Poloniex. Is that indeed the exchange that Steemit basis the on-site figures on?
I don't know, honestly. The information I've been able to dig up on the subject is that the internal price of Steem/SBD's is based on the reflections of a 3 day average on the overall market price. But, I don't know if I really believe that to be the case or not, since as we can see, one exchange has raised the overall price on coinmarketcap while all the others are floating around $1.80-1.84 right now. I don't see SBD's going up to $3.22 because of that one exchange having ridiculous prices going on right now.
But, hey, I'm a fucking noobie with this kind of stuff and would love to be proved wrong. Like, seriously, please let SBD's go back up to over $3, lol.
Could I have transferred my SBD to that specific exchange in order to cash it out and gotten more for it?
Depends on the exchange I reckon, as some are closed off where you can only join with an invitation where it's a private exchange. I'm sure some exchanges have limited ability to transfer your coins around as well, where you might have a hard time cashing out on coinbase or sites like that. I honestly don't know much about HitBTC, personally.
Again, I should mention that this is just conjecture from a noobie. I really hope someone who knows their shit will pop in here and chime in for us.
Thanks for you sir
dang dude. that sucks.What this means is the crypto world is still holding the public at arms length. The average Joe does not want to have to get their head round all these technical nightmares and inconsistencies......it make people like me afraid to try doing ANYTHING with my crypto!
Maybe your wallet is lagging? My account has real-time SBD value at $1.806USD it went down a lot from when SBD was at a real high a month ago something like $4.00USD
That is true. How could it be so low? Did they start to apply some extra fee or something? Just yesterday, SBD went upto to about 3 and came down to 2.34$. I am watching it at coinmarket right now is about 2.05 still. Thats sad :( This feature should be added
I'm confused... If you sold it on Poloniex, shouldn't it have sold for what it was listed at?
It is apparently lower on poloniex than I realized. I was looking at the wrong number.
That would explain it! Sometimes the current list price can be a bit tricky if the amount at that price is lower than you are exchanging, then it can monkey with the amount you actually get...
Do you live off Steemit earnings? Have any posts about this topic?
Yes I do, and no I don't.
I would really like to know more about this. The ride up and down through late last year until now must have been pretty insane.
Indeed, but I have budgeted everything such that I'll be fine so long as SBD doesn't go below $2 for too long. I can go lower but I have to live very lean.
I'm saving muy few SBD until the exchanger fix the prices.
By the way, I live in a shithole country where the price of 1 SBD is almost 3 millions of the currency.
If it is strong not to get what it deserves in my country Venezuela the value of a SBD is $ 3.16, which by the way to collect that amount I calculate a year.
The Ramen is good for the Hokage.
There definitely should be a way to know exactly what you'll get when you cash out.
That wasn't a cool experience brother, though the price of sbd is not up to what you think, I just checked my supply, sbd is at $3.29 but the price is actually exchange for $1.8. I can smell a rat here, maybe the chat wasn't real again.
I move sbd out of here frequently. I use blocktrades and the price is never what is says it is on any exchange. I check several places each time. It is always less when I transfer by a good margin. I used bittrex one time and got a slightly better rate, but not by much. I am not sure why this is, but it has been consistent since I started taking it in January this year.
I hope you get some help and understanding on this issue, as I would love to know the answer.
lovely informations @alexbeyman
thank you for sharing
the value of SBD & USD is getting down and up some time so we have to wait for the right time and then convert them
I know how does feel inside because we are expecting something but we other thing of lower value...
You check first the value on poloneix before exchange the sbd..it really hurts when the poloneix is showing the value of sbd by you are satistfied but when you go for exchage it gives you lower than that..
I feel sorry for you.
Every exchange carries . I cash out on Bittrex and the price for SBD on there is around 1.82 on there right now so the amount I cash out with will be lower
Alex why you cashed out when you know prices are down nowadays?
I thought they were up. Here's what my browser crypto price tracker widget says about SBD:
I also need money to pay rent, utilities and buy groceries with.
i have to learn a lot of things for you...
be continuous sir
I saw SBD at $1.8 on coinmarketcap yesterday and today afternoon when I was checking it out. It said $3.54 with a 72% increase in price. I was really shocked. I even made a post on it checking with people and they had suggested some links to check this at a better/more actual exchange rate. I fortunately couldn't cash it as I was out and busy(I was planning to cash 40 SBD no 400's for me :P)
Yes, definitely confusing. Hit a high of $25.92. Hitbtc out of wack.
man..... $58
( ಥ_ಥ)
It was notice that there was a pump on SBD on hitBTC which coinmarketcap gets their price from too, reason it affected it. Bittrex was selling $1.72 at the time of that report.
I sometime uses steemdollar.com or steem.supply to know the price of SBD and Steem