I think you are referring to this internal conversion:

What I was referring to is the following:


I agree. We had different mechanisms in mind. I was thinking of what you call "internal conversion." What you meant I call "trading on the internal market."

The published price (which is derived from the witness price feeds) has nothing to do with the market price in the internal or centralized markets for Steem or Steem Dollars. The price feed is used when creating rewards and allowing on-chain conversion by destroying dollars and returning some amount or zero Steem.

The market price can be really different from the conversion price. Right now, any Steem Dollars that was set for conversion will be destroyed without reward.

tbh, in all this negativity flying around, I seriously have not got the energy or will power to watch what I say or how I say it.

My bad as far as the wrong choice of words goes.

The "peer to peer market" is what I found woks best when talking about the selling and buying of STEEM & SBD via the market place shown in the earlier snapshot, just didn't think of that name I used for it when I was typing the post.

Please don't beat me, please don't beat me, I may start enjoying it!

Thanks for making sure there is no confusion on the topic. Every bit helps, especially nowadays!


Indeed there has been a lot of negativity going around.