The conversion process takes one week essentially as a way to avoid shocks to the markets (as far as I understand). The transactions are delayed for one week and the average conversion rate over that previous week is then used for the conversion.
That sucks for those of us that did it right away. The conversion rate was the best the day of. This will result in my obtaining significantly less steam then had I bought it outright on the market.
In all, this shouldn't be an option. As it sucks.
Edit: I will edit this to say that you seem to get the best conversion rate over the previous week rather than the average, making the 7 day conversion of Steem Dollars into STEEM the very best way to do it. I was incorrect in my previous posting. It is the very opposite of suck.
If you look, all of my STEEM is sitting as Steem Power. What I was saying sucks is choosing the wait 7 days option and ending up with less then had I just bought from the start. HOWEVER, I was incorrect in that statement, as I received the same amount I would have had I bought when the price was the lowest. Which makes the 7 day wait period far better, as apparently you get the amount of steem which corresponds to the very BEST price over that period, not the average.
I am doing my part to ensure the viability of the system!
Well thats because it hasn't been 7 days.
Yes it has not yet been 7 days but am worried as to what awaits me then. :)
can anyone explain why my steem got missing?
from steem dollar conver steem after 7days i never saw them back
hmm not sure about what you said
What? I too have powered up my sd's and am waiting the seven days.
The conversion process takes one week essentially as a way to avoid shocks to the markets (as far as I understand). The transactions are delayed for one week and the average conversion rate over that previous week is then used for the conversion.
That sucks for those of us that did it right away. The conversion rate was the best the day of. This will result in my obtaining significantly less steam then had I bought it outright on the market.
In all, this shouldn't be an option. As it sucks.
Edit: I will edit this to say that you seem to get the best conversion rate over the previous week rather than the average, making the 7 day conversion of Steem Dollars into STEEM the very best way to do it. I was incorrect in my previous posting. It is the very opposite of suck.
How can you say it sucks if it is to protect the viability of the whole system? If the system were to collapse then you might get nothing at all.
If you look, all of my STEEM is sitting as Steem Power. What I was saying sucks is choosing the wait 7 days option and ending up with less then had I just bought from the start. HOWEVER, I was incorrect in that statement, as I received the same amount I would have had I bought when the price was the lowest. Which makes the 7 day wait period far better, as apparently you get the amount of steem which corresponds to the very BEST price over that period, not the average.
I am doing my part to ensure the viability of the system!
why you power down your steem power ?