Changes to steemit Wallet tab.
If you have been using the wallet and it's 3.5 day wait to convert your SBD's to Steem, that function has been removed.
Witness @drakos has a very important post for you to all view. I have re-steemed it and here is the link:
https://steemit.com/steemit/@drakos/sbd-conversion-removed-from-steemit-s-ui
Okay now you are thinking well I have never used the Internal Market before how do I use it. I was in the same boat as you 6 days ago. But I found a savior, and that was @everittdmickey. he has a very easy to read and follow how to use the Internal market.
https://steemit.com/steem/@everittdmickey/using-the-internal-market
@everittdmickey, Along with being and over-all nice guy, he also has a lot of funny news tid-bits and stories to read, so check out some of his other stuff also.
I am sure over the next couple of days there will be a lot more of this type of post coming out, and hopefully everyone will find one that helps them out.
If you have not voted for @drakos as a witness, this is just one small example of how he views his witness job.
Good move, but for a whole different reason than people losing out on profit IMO. If I understand correctly, the conversion would just 'burn' SBD leading to less SBD and thus even higher SBD prizes. With SBD being conceptually designed as a USD pegged currency, burning SBD at pumped SBD levels seems like the worst thing possible. In fact, the platform should addapt to generate MORE SBD I think. Maybe something fro @drakos to consider would be to have the 100% reward option removed from the interface whenever SBD is above some treshold, like 1.5 USD or something and have the 50%/50% removed (and the convert reinstated) whenever SBD is below an other treshold like 0.67 SBD. That way the designed USD pegging could actually work i think and trust could grow that pumps like we are seeing now won't be able to kill the peg in the long run.
While not everyone may see the value of a strong peg when there is a pump, its value should become clear when the BTC bubble burst and other crypto currencies like STEEM and SBD inevetably will take a hit. If today SBD gets protected from pumps like the one we are seeing now, this protection should also be in place when it matters the most, at the moment that BTC comes crashing down.
I don't really know much about the crypto values or how to preserve it, but it was only 6 days ago that I learned about the internal Market. I was concerned that people that were used to converting via the wallet, (me 7 days ago), would be at a loss of how to turn their SBD's into Steem. If there was ever a post that needed to be on the trending page his was it.