STEEM needs you to help saving our Stablecoin from Inflation.
The Problem:
(This suppose to be 1.000 USD)
You can help and get a little profit with it.
Buy as much SBD as you can with your STEEM and set it to be converted. The process to turn SBD into STEEM takes 3.5 days and it gives you the amont of STEEM calculated from the average informed USD value from witnesses. That means if the witnesses are not lying1 this process will give you a profit proportional to the difference of SBD and USD while SBD keeps valuing less than 1 USD.
1. It is virtually impossible at this point for Witnesses be lying about the value of STEEM as it has been months since the last time the network produced any SBD. So, you can do it without any fear.
(How to do it on SteemWorld)
(as seen on Steempeak)
You've touched on something that I have personally always wondered about; but unfortunately, you have failed to provide sufficient evidence that would lead me to believe that there is "profit" in it as you suggested.
while
SBD < USD(Right Now is about 0.64 SBD for 1 USD)xSTEEM for SBD in the internal market for it's internal market value(about 0.20 SBD for 1 STEEM);In other words, you are selling STEEM for ~20 cents a unit and buying back for ~12 cents a unit. Since 12 < 20 then profit.
But stop as soon as SBD stabilizes again after reaching a dollar for every unit.
What counts is the Internal Median Price.
Indeed I've seen it now. Unfortunately this should be fixed in a next HF in order to incentivize more people to do the conversion whenever the SBD value falls below 1 USD.
https://github.com/steemit/steem/issues/3570
Went to the GitHub Steem Developers Page and asked about it.
As it seems my initial assumptions regarding SBD conversion were correct after all.
(Link on Image)
This post was upvoted by SteeveBot!
SteeveBot regularly upvotes stories that are appreciated by the community around Steeve, an AI-powered Steem interface.