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RE: Reminder: If SBD Are Below $1, Convert to STEEM
There is no "convert" from STEEM to SBD, but I assume you mean sell on the market. Yes, that's the basics of it, but no one can time the market. The conversion from SBD to STEEM adds another dimension because you should be getting $1 worth of STEEM for trading an asset the market is currently valuing at less than $1.
I thought sbd is more or less always 1.00$ (+/-0.01) and that price of steem is only going up and down. If was only like that, you could gain profit on internal market easily. Obviously I was wrong about sbd value.
There's no magic way to say "SBD is worth $1 because we say so." It floats up and down based on market forces. The conversion is one of the ways we can help maintain the peg.