The Convert function is a waste of money & time. (I'm a dolphin)

in #dolphinlast year (edited)

Hello Everyone,

image.png

My conversion just finished, and I was looking forward to many $$$ of STEEM, but actually, I lost money. That's right, by waiting 3.5 days for my STEEM, I actually ended up PAYING MORE for my STEEM than if I were to just buy it instantly. Isn't that insane? I lost about £5/50 STEEM by waiting for what felt like ages.

That's due to the mechanism in STEEM which says if there is too much debt, let's unpeg the asset and do a completely different calculation to work out what you'll recieve.

Anyway, I've just surpassed the 10m VESTS to become a dolphin.
image.png

It took all the STEEM I had, as I only expected it to be 5k, but it's around 5050 that you hit 10m vests (as of today)

Hooray! I lost some STEEM and became a dolphin in the process. How awesome.

Moral of the story, check this number before converting:
image.png

Also, I now have the ability to create offspring on the chain (if the RC cost is low enough, it's high atm) image.png

Anyway, I have a cool app I want to build, which will require a fair bit of delegation, so this conversion may have fucked up my plans a little. I've already got a STEEMER offering to help though, so we should be good.

Upvote this post to save the whales 😂🤣 (This is a joke) But feel free to upvote to fill the 50 STEEM hole in my wallet LOL

Have a wonderful day,
~ @cadolphin

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Thanks. 😎😁

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$trendotoken

On behalf of ONECENT :-)

Congratulations @rycharde, you are successfuly trended the post that shared by @cadawg!
@cadawg got 0.22145400 TRDO & @rycharde got 0.14763600 TRDO!

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Woohoo you made it.

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I did indeed. The view is nice up here 😎

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Congratulations big boy!

Thanks olivia!

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Welcome
!BEER

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Cheers!BEER

View or trade BEER at steem-engine.



Hey @olivia08, here is a bit BEER for you. Enjoy it!

View or trade BEER at steem-engine.



Hey @cadawg, here is a bit BEER for you. Enjoy it!

Hi, @cadawg!

You just got a 0.6% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.

Curious at to what you thought the conversion rate was going to be?
It is always the official Steem blockchain price.

You had won an upvote from the ONECENT game but can't find an un-voted post, so will send you a tipping token instead...

I thought it would be $0.132 per STEEM, as that was the STEEM/USD (and thus STEEM/SBD rate). That's how it usually works. Turns out the debt ratio is too high, so it does what it does.

Congratulations @cadawg.

!BEER
for you

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