Tracking SBD Converting, Result 20th MARCH (-8% SBD)
Converting SBD>STEEM on Blockchain (3.5 day burn to STEEM) using https://steemworld.org by @Steemchiller
0.100 SBD Converted to 0.214 STEEM
https://steemworld.org/block/31306882
Selling STEEM through STEEM market.
0.214 STEEM Sell to 0.092 SBD
https://steemworld.org/block/31318662
Hi, What does this mean?
Hello 👋
basically it is a working of the STEEM blockchain to have a more stable asset tied to STEEM
SBD when converted using the function on the STEEM blockchain destroys SBD for an amount of STEEM which should be close to $1
if there is too much SBD printed(high DEBT RATIO) to the amount of STEEM you will receive less (around 6% currently)
for more information on SBD https://www.steem.center/index.php?title=Steem_Dollar_(SBD)
for stats on current debt ratios etc can use https://steemworld.org
I suppose destroying Sbd for steem is good for the chain because it stabilizes it. Is that what the @burnpost initiative had going on?
Also, which is more profitable currently? Selling sbd for steem on exchange or destroying sbd for steem?
Is there an interface where one could do this without necessarily getting into the technical details?