You are viewing a single comment's thread from:
RE: Steem Monsters: Hedge Against a Bearish Market (Analysis)
Keep in mind that the SBD peg could be broken anytime soon. As soon as the debt rate exceeds 10%, you'll get less than 1$ by converting to STEEM.
That's true as well, since Steem marketcap has gone down so much we're fast approaching that 10%. Also, how do people actually convert Steem? I remember asking a while back on Discord and was told we can't, doesn't that technically make SBD useless?
We're actually very close: https://steemit.com/sbd/@transisto/sbd-debt-ratio-will-be-10-at-0-49c-steem
You can convert with steemconnect for example: https://steemit.com/sbd/@timcliff/how-to-convert-sbd-into-steem-using-steemconnect
And why did we change from a 5% to 10% ratio in HF20? Just to make the run on steem even more catostrophic as people madly rush to convert their SBD
Thanks for the guide on how to convert!
Does this mean people who have been doing this over the past few weeks have been earning a fair bit since SBD is under $1.00?