Time to convert your SBD! by chitty

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steem · @chitty · Aug 8 '16

$9.01

Time to convert your SBD!

<center> ![]( https://s9.postimg.org/ydnrc95u7/100686484_excited_young_stock_trader_gettyp_1910.jpg)</center>

Five days ago I wrote an article titled [“Time to buy SBD”]( https://steemit.com/steem/@chitty/time-to-buy-steem-dollars) where I suggested to buy Steem Dollars at $0.80 and wait for the price to stabilize to convert and make at least 20% profit.

Well steemians the time has come, the price of the 7 day average of steem is $2.06, while the price of steem at exchanges is $2.11, so unless there is a big crash in the market in the following 4 days you are pretty safe converting now.

Note that the price of steem at the internal market is of $2.45 so if you want to increase your SBD holdings you could also convert and sell on the internal market as @bacchist did and explained on this [post]( https://steemit.com/steem/@bacchist/my-week-1-sbd-conversion-results-18-615-sbd-or-7-446-roi).

Good Luck!

#trading
#steemdollars

👍 wang, boombastic, cryptogee, nanzo-scoop, chitty, kimziv, mummyimperfect, jl777, linouxis9, cdubendo, highasfuck, altoz, proctologic, royaltiffany, hcf27, chris-bell, proto, fury, elishagh1, furion, jennamarbles, fkn, perky, taker, aeico, positive, primus, andrewsanderson, cryptomancer, neroru, mahekg, dennygalindo, gikitiki, viktor.phuket, karen13, gmurph, davidr, azurejasper, tarindel, andreynoch, yarly, marcgodard, thebigweb, dolov, fishborne, karenb54, agente, atx, romel, ch0c0latechip, fnait, keepcalmand, doge4lyf, barbara2, tjpezlo, juliap4, ts888, jacksongarcia, ardina, taz, akaninyene-etuk, jonasontheroof, alexander9, eslopez92, and 4 others

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@chris-bell · Aug 8 '16

Aren't  you comparing Steem to Steem Dollars which are not the same thing?

👍 chris-bell

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@chitty · Aug 8 '16

When you convert you convert from SBD to Steem according to the 7 day average price of Steem, so the price that really matters when converting Steem Dollars is the price of steem. You can read my previous post which outlines how the process works and how you can take advantage of it: https://steemit.com/steem/@chitty/time-to-buy-steem-dollars

👍 fury, perky

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@cryptogee · Aug 9 '16

>Note that the price of steem at the internal market is of $2.45 so if you want to increase your SBD holdings you could also convert and sell on the internal market 

It takes a week for the SBD to be converted, in which time the price will have adjusted. If it has adjusted up; great. If it goes down, then you will lose any advantage you may have had.

I believe this is why they did it like this in the first place, so you couldn't gain unfair advantages over internal/external markets.

*Cg*

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@cryptomancer · Aug 8 '16

I actually had this same thought myself but hesitated, wanting to learn more about the underlying mechanics of SBD before jumping in.  Well played to anyone who took advantage!  Will be watching the price for future such opportunities.

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@karenb54 · Aug 8 '16

Well done to anyone who followed your advice.

👍 karenb54

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@thebigweb · Aug 8 '16

Thank you for the advice. Any predictions on what the value will be in a few months? I know it's difficult to predict but you seem to know it quite well.

👍 thebigweb

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@chitty · Aug 8 '16

Its hard to predict crypto far in the future, Steem has high inflation so I guess it will depend on the platform growing faster than the inflation.

👍 fury, perky

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@tjpezlo · Aug 8 '16

great info.thanks

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