RE: SBD vs. Steem - Why knowing the difference can save you money

[sumatranate]

EDIT: I reread @jamesdenny's post. I wrongly used the word convert. I should have explained better by saying "sell at the market." Dude, I was wrong in what I said. I affirm what you said.

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Original Comment:
Your post was a great explanation of the differences between Steem, Steem Power, and SBD.

I want to push back a little bit about whether or not someone should convert SBD to Steem.

It is a great idea if SBD is 2x or more the value of Steem. In those cases you can convert SBD to Steem which can be used to Power Up.

I recently did this and it was worth it to me. Now if the price of Steem is greater than the price of SBD it may make more sense to us the 100% power up option if that is your goal.

upvoted

Comments

[jamesdenny]

Are you sure? If SBD is 2x the value of Steem, you could exchange it rather than convert it then power up and be better off right? I recently tried to convert SBD for Steem as a test and got .29 Steem for .5 SBD, if sbd was 2x the value i could have exchanged it using bittrex and gotten 1 whole steem for my .5 SBD

[sumatranate]

And I think that this is what we both meant.

1. Open your Steemit wallet.
2. Click on the chevron for Steem Dollars, then click Market
3. Enter the amount of SBD you want to sell for Steem, and the price you want to sell it at.
4. Optional: You can use the Steem you just purchased to Power Up.

If the price of SBD is more than the price of Steem then is a great way to power up.

Again I sorry @jamesdenny. We are on the same page, but I was not explaining my page well.

[jamesdenny]

haha ok good, just wanted to make sure you weren't wasting lots of potential Steem!

[sumatranate]

I was thinking the same thing. I just misread your post. Again I am sorry!