You are viewing a single comment's thread from:
RE: How much SBD has been converted to Steem recently?
SBD represents $1 worth of Steem when the total SBD value is less than 10% of Steem Virtual Market Cap. Right now it is above 10%, and as a result using convert_sbd will net you $0.90 at the current price. It also takes 3 days, and the price will have changed by the time the order completes.
There is an arbitrage opportunity but after crossing the 10% threshold it has become high risk. That's why it was happening a lot, only to suddenly stop in the last few days.
Could you give an example that would explain an optimal situation to utilize the SBD_convert command?
I wrote an article about it a few months ago.
https://steemit.com/steem/@demotruk/using-the-convert-option-with-1-sbd-does-not-give-you-usd1-worth-of-steem
I didn't include the situation we're in now, where SBD is above 10% of the market cap, as I was not sure how it changed until recently.