How to convert SBD to STEEM using the blockchain (not internal market). Easy tool by user @mwfiae.
One of the opportunities I look out for on the blockchain is to convert SBD to STEEM at the perfect moment.
With converting I don't mean the internal market that looks like this:
But the actual convert function that is build into the blockchain.
In general you only want to do this when SBD is below a dollar.
Access to this function is currently turned off on steemit.com because too many people made mistakes and lost a lot of money when SBD was high.
Example: Let's say SBD is worth $3 and you convert this to $1 worth of STEEM you basically lose $2.
But it's still possible to do it with a tool made by user @mwfiae:
This function will turn an SBD into $1 worth of STEEM over 3,5 days.
I tested it 3,5 days ago on a test account and it worked fine but make sure you know what you are doing before attempting this.
Now why would you want to convert instead of using the internal market?
When the price of SBD stays under a $1 for a while you simply get a better deal.
Example: Let's say SBD is worth $0,95 and you convert this to $1 worth of STEEM you basically earn an extra $0,05 of STEEM compared to the internal markets
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Hey @exyle
yes, thats the thing what a more advanced steemian have to know.
@mwfiae does a great job with it and got an awesome Sidebar for Steemit too. Check it out if you not already tried it. It's a very helpful tool while browsing on Posts or Blogs from Steemians.
Cheers,
@RivalzZz
Thank you for the support you're awesome! :)
And thank you for the tools!
Just saw that your upvote pushed me into a "comments with the greatest rewards" list!
Really awesome, thank you! :)
It's a pleasure to make these tools!
I use them myself and I really love if I can help others too :)
... da hab' ich oben noch eine Kleinigkeit dazu gelegt ;-)
Dann auch ein riesen Dankeschön an dich! :)
Gerne!
Ich danke dir für deinen Transfer (Reputations-Post), den ich wirklich nicht erwartet hätte.
Hatte es ja angekündigt dass es da Geld-Zurück gibt :)
Hat leider länger gedauert weil ich irgendwie kein Tool gefunden hatte, mit dem ich genau sehe welcher Vote wieviele sbd/steem eingebracht hat...
Hab mir aber jetzt beholfen indem ich alles prozentual berechnet habe anhand der rshares :)
Hab nur peinlich lange gebraucht um auf so ne simple Lösung zu kommen ;)
I was actually asking myself question “why would anyone do that?”. This completely answers my question. With bigger amount to exchange it could be a very good deal. Can you imagine for SBD to go much lower and Steem in reverse to go much higher?
hey @exyle but if any one want to stop this how can we stop this conversation process
but now this time sbd on 1$ so maybe this will not work
Any type of external charges are taking there for converting currency are not
Mark @exyle a Great Tip and Thank you for explaining how I can keep from losing Money if I use the Wrong Tool...............
This is our basic need and this is the part of work...thanks for sharing...
Thanks for the information.
I love these kind of tools. I always felt created that they took the convert away even though I understood why!
Informative post.
This process of convertion can be very efficient in proper time.
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