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RE: SBD is losing its peg right now... :(
I guess nobody is taking advantage of it
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SBD is trading below 1 USD right now because select ...
I guess nobody is taking advantage of it
Snip... Turned this comment into a new post
SBD is trading below 1 USD right now because select ...
Well, I converted
Fill convert request: 751.154 SBD for 1481.566 STEEM
Alright so it did nothing to maintain the USD Value in this conversion. Both are worth about 608 USD.
So where is the convert on this? I still lost money as though I just held SBD while it continued to decline in value.
I began the conversion 3.5 days ago. But that was when SBD was worth 0.94 ish. Now its down to 0.84. So how exactly is this working in my favor? I am now sitting on less money than when I started the conversion in the first place. I guess if I begin a new conversion right now it will likely even out? but I am still fucked with a loss in value if I need to cash some out right now. I might as well have just never converted.
This is kind of garbage. I thought it was supposed to convert to the steem value as if the SBD was worth 1 USD each. It appears to not actually work that way.
That conversion completed around 5 am. During that time, btc was at 4450, steem 0.4088215 and sbd 0.795571. Some of this data might be innacurate because I do not know the exact time the conversion had completed.
But assuming I'm correct, you still turned 597.59 USD into 605.69 USD for a 1.3% profit. Of course, market prices aren't the same as 15 hours ago. So... It's not garbage, you just have to schedule for it appropriately. Honestly, it was probably worth more, but the market is too volatile to be sure.
ok so I messed up because I was not paying attention to the exact moment it finished.
I recommend task scheduling and jsteem scripts.
How do I set this up because I am losing money every time a conversion goes through and I don't catch it as soon as it happens. Its weird too because the conversion tends to happen at a random time before its scheduled to actually happen.
I use them for other stuff. I know they can be used for this, but I don't know how as I'm not that acquainted with them.
hmm I am not sure if I actually understand the math behind the conversion process. Its supposed to convert the SBD into an amount of steem that is equal to if the SBD was worth exactly 1 USD each right?
Does it count the value of steem during the start of the conversion or the end of the conversion? My understanding is that each conversion where I bought SBD at like 0.85 cents then I should see a pretty big (15%) return right?
Its weird, because I cant really understand how SBD is actually pegged to the USD. It does not seem to really be pegged very well. hmm this is pretty strange.
I need to see a detailed breakdown of this process because It seems off.
My math pointed at nearly 0.97, regardless of when my conversions were filled.