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RE: Re-investing SBD into Steem Power? Consider skipping the Internal Market for the Exchanges.
It seems to me that having a more direct method of converting SBD to Steem Power would be really beneficial. After all, doing so is a clear investment in Steemit's long term growth, so why not make it as simple as possible for users? Under the current system I imagine a lot of people are simply holding their SBD as is, especially those who don't fully understand the ins and outs of trading. It would also be good to encourage keeping it in the system rather than switching between exchanges and incurring further fees/more hassle. Maybe worth considering, @dan / @ned / @steemservices ?
I'd like to see an option say "Power Up" from SBD, which will automatically put the SBD on the market for the Asking price, and power up Steem Power directly. Of course informing the user of the process.
It would be nice if the liquidity reward actually worked properly and we ended up with extremely tight spreads on the internal market with good depth and good tracking of the peg value. Unfortunately that didn't happen so offering an easy instant market order option would result in people frequently being ripped off by bad executions.
Hopefully the market will become more liquid in time and this will become a viable option. I'm working on a few things to improve the situation.
Good to hear this. Thanks
I am one of those newbie's who was holding my SBD and just learned that it would be more beneficial to convert to Steem Power
https://steemd.com/@cloh76/i-converted-my-first-steem-dollar-earnings-to-steem-power-learning-the-ropes
Holding SBD is not necessarily bad. It earns interest and should be fairly stable over time (even if it currently has some nasty fluctuations). The thing to be aware of is that SP is a highly risky, illiquid investment (meaning you can't get your money out quickly) while SBD is liquid and most of the time should be stable. SP could certainly pay off more over time but that is not guaranteed. Study both carefully and make the decision that best fits your own situation.
Precisely, sold half the value of my assets in polo for SBD and im planningbto hold on for it just in time for the big boom
Its interesting that whales rarely hold SBD and when they do hold it, its generally a very low percentage of their wealth on the platform (source: http://steemwhales.com/).
Why do you think whales don't hold more SBD?
The total supply of SBD is about 1% of the supply of STEEM/SP. It isn't mathematically possible for whales to have a large percentage.