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RE: SBD to STEEM Conversions and the "SBD Haircut"
I also did it in a spreadsheet and got 455,546.
Edit: 1: So the conclusion is that unless the Steem price drops further below 0.42 and stays there for 3 days then we probably won't have a haircut and even then it will be slight, much less than the "haircut" the market is currently giving to SBD.
I think we might get a temporary haircut in the next 24 hours, which then undoes the next day.
But yeah, the market is very skewed at the moment. And the "haircut" isn't really a threat anyway as far as conversion goes. As long as the price is inflated some of us will be waterfalling conversions, and thus bringing the supply down significantly, especially if Smooth keeps doing it.
I had the thought of waterfalling conversions (you mean buying SBD on the internal market with the steem you get and converting again, right?), but powering up is just so enticing when folks aren't using the reward pool as much. While the average steem price has fallen by 50%, my reward average has barely changed. It's a good time to get some steem!\n\nPosted using Partiko Android