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RE: SBD is losing its peg right now... :(
That's not how it works. It's a soft peg. The algorithim pushes it back to $1, just not instantly.
That's not how it works. It's a soft peg. The algorithim pushes it back to $1, just not instantly.
Its based on a feature we don't currently have available right now.
Could you please link me to where you've read that?
There is supposed to be a convert feature on SBD. It was removed. The convert feature made it so if use it on your SBD it will transform it to the amount of STEEM if SBD was worth exactly 1 dollar. That made it so the price of SBD was pegged to 1 USD. Any time SBD went below 1 USD you could profit by buying and converting SBD.
No, it wasn't removed.
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I've just made a post about it here: You can still convert SBD into STEEM - Step by step tutorial
Upvoted!
So to be clear this does what I said it does right? So if SBD is worth 0.9 USD each then it converts to 1 full USD of steem on conversion? So its basically free money to maintain the peg right?
As long as SBD is still worth less than 1 USD by the time it's done.
Its been like that for weeks right now. I guess nobody is taking advantage of it. Including me. I went ahead and converted now. I doubt it will be above 1 USD in 3.5 days
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