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RE: Steem Dollars Flippening: SBD is Now Worth More Than Steem Itself
Hi nice post. Is this usually the case when STEEM sells off? If so from a trading view it seems best to hold SBD during declines in Steem then cash out SBD to buy cheap Steem or power up
This is not usual actually. I watch the markets a lot and usually Steem is up but this time SBD rose and Steem went down with BTC going down. SBD is useful in two ways right now, get a bunch of Bitcoins while they are cheap or get a bunch of Steem while that is cheap. I use the internal market to trade SBD to Steem for power ups...and use Blocktrades to cash out for Bitcoin to my Bitpay account and card. Its all in your end game. Don't think it will stay like this but anything is possible lol
I am new here but based on what your saying the internal market is a better way to buy Steem rather than converting SBD to Steem. Ok I will give it a go. Never tried blocktrades before was thinking of doing it via coinbase. Thanks for your advice
No problem and welcome to the community by the way. I mainly use the internal one because it saves on fees from running all over the place and Blocktrades because its just as fair as the exchanges but more a faster route to my Bitcoin wallet, I am lazy lol.
Hi there @sflaherty
Yep, I noticed the SBD was at $2.40 3 hours ago. ($2.00 Right now) But, ¿Did you notice that both exchanges Blocktrades & Changelly none of them were reflecting that $2.40 SBD marketcap exchange rate to obtain this same equivalence in BTC? So I had not choice but to abstain from performing the operation even needing to convert some SBD to BTC at that moment.
Didn't really notice that, I been mainly just powering up and wish I seen your comment about 10 minutes ago, just sent off some of my SBD to Blocktrades and I confirm, way less then $2...got kind of screwed that time but not by much, think it averaged about $1.80 on that move. Its alright though, their system tends to be a little behind so I take it into account. I should make it back up when BTC recovers.
Glad to be of some usefulness about that issue mate. We will have to be more attentive to those details in the future. And if you find out about another exchange different than Blocktrades & Changelly reflecting the same exchange rate as the Steem Marketcap instantly, please let me know. Since I need to convert a few SBDs to BTCs very soon. Cheers!! :)
I tend to use Bittrex if Blocktrades doesn't work too well. I haven't checked if Shapeshift does Steem Dollars but they also may do that. I tend to price check a lot for the just in case factor, never know when its way down and your taking a loss without checking your numbers from time to time