SBD update: Conversions currently profitable by frdem3dot0

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sbd · @frdem3dot0 · Dec 29 '18

$3.49

SBD update: Conversions currently profitable

I wrote a lot about the broken SBD peg and today I decided to given an update version of our 'stablecoin'. 

![download (50).png](https://cdn.steemitimages.com/DQmbjgF1px1YYq4vJvLrkNxoL2vMVqRBZ6KHhRhXJogcwzd/download%20(50).png)

On the vertical axis the effective peg of SBD is shown in $, while the horizontal axis shows the price of steem in $. Blue is the peg via conversions assuming a fixed price in the conversion period, orange is the actual peg including price fluctuation risk (assuming the volatility of the past month). The thin black lines show current price of both SBD and steem. 

The current price levels are below the guaranteed peg and thus converting should be profitable right now. It is not a lot down so there should not be big profits, but it is and has been consistently a little down. I guess a lot of people have lost money converting and are now keeping away so the price can stay a bit below the peg. 

Compared to my earlier posts the debt ratio is slowly improving due to conversions even at fixed steem price. This is positive and slowly raises the value of the remaining sbd's. But this is a very slow process. Since the broken 1$ peg it is hard to understand for an average user when this is profitable and thus conversions happen at a very slow rate.

👍 knircky, timcliff, dhimmel, steem-ua, minnowsupport, steeminganarchy, allyouneedtoknow, msp-lovebot, newageinv, definethedollar, skepticology, mattockfs, pibara, vimukthi, msp-shanehug, pennsif, chrone, markgritter, lovemetouchme2, curatorbot, zedikaredirect, freebornsociety, digital.mine, jasonliberty, frdem3dot0, mysearchisover, builderofcastles, inversionistam, mrakodrap, merlin7, johnvibes, mbappe, criptomir, sergino, cootroach, undaeabs, reluctantmature, therebotelife, danielsaori

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allyouneedtoknow	72,741,212,138	60%
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digital.mine	9,541,957,105	5%
cootroach	512,501,889	100%
markgritter	17,633,515,103	100%
definethedollar	50,222,990,704	100%
reluctantmature	512,121,042	100%
undaeabs	512,122,801	100%
merlin7	1,343,257,529	0.05%
steem-ua	270,128,510,005	2.23%
criptomir	1,061,211,383	100%
curatorbot	14,260,934,664	100%
mbappe	1,068,551,552	2%

@luegenbaron · Dec 30 '18

Haha have no sbd no more

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@metama · Dec 30 '18

so tldr ... converting one Steem backed dollar does not generate one dollar worth of steem?

👍 frdem3dot0

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@frdem3dot0 · Dec 30 '18

yes, but more than the current market price of SBD.

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@minnowsupport · Dec 30 '18

<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by frdem3dot0 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows.  Please find us at the <a href="https://discord.gg/HYj4yvw"> Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p> <p>If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=102530.639667%20VESTS">50SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=205303.639667%20VESTS">100SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=514303.639667%20VESTS">250SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=1025303.639667%20VESTS">500SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=2053030.639667%20VESTS">1000SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=10253030.639667%20VESTS">5000SP</a>. <br><strong>Be sure to leave at least 50SP undelegated on your account.</strong></p>

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@pennsif · Dec 30 '18

This post has been included in today's  [**SOS Daily News**](https://steemit.com/steem/@pennsif/sosdailynewsnewsaboutthestateofsteem29december2018-1cinp6d7bh) - a digest of all you need to know about the State of Steem.

***

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https://pennsif.com/wp-content/uploads/2018/08/adollaraday-linear-400x98.jpg

***

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@reversed-bidbot · Dec 29 '18 (edited)

This post is promoted by @reversed-bidbot as an upvote lottery with a jackpot of 0.498 steem!

Sorry, all tickets have already been claimed. 

Excluded from participation are: bidbots, autovoters.

The jackpot is paid in redfish_shares by @curatorbot, giving you lifetime upvotes while supporting the redfish community. Find more information [here](https://steemit.com/help/@frdem3dot0/redfish-booster-steem-bounty-resteem-this-post-to-win-the-bounty). 

Follow me to also earn steem on my other promoted posts; or use @reversed-bidbot to hold your own raffles. For more details please visit my [discord server](https://discord.gg/N5q8GRB) or read my [introduction post](https://steemit.com/curatorbot/@reversed-bidbot/reversed-bidbot-raffles) 

<center><a href="https://steemit.com/@reversed-bidbot"><img src="https://cdn.steemitimages.com/DQmTZXG16gQZsMbC5D1TXSXH7wxGKzk5anKPDyXPU7CNYzE/Screenshot%202018-09-16%2021.40.26.png"/></a></center>

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@steem-raffle · Jan 5 '19

I was called to perform a provably fair random drawing for @reversed-bidbot! 

There are a 2492 tickets participating in this round. 
@merlin7 holds tickets number 0 - 1 
@frdem3dot0 holds tickets number 2 - 15 
@mbappe holds tickets number 16 - 16 
@inversionistam holds tickets number 17 - 24 
@freebornsociety holds tickets number 25 - 43 
@curatorbot holds tickets number 44 - 67 
@johnvibes holds tickets number 68 - 69 
@zedikaredirect holds tickets number 70 - 91 
@knircky holds tickets number 92 - 2491 
The merkle root of the block in which this post will appear determines the winner.

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@steem-raffle · Jan 5 '19

The block in which the above post is included has a merkle root of 4ac7a4904ade370fcff3ab7fafe6a49a1abf2328. 
To find the winner we: 
1. Convert the merkle root into base 10: 
 4ac7a4904ade370fcff3ab7fafe6a49a1abf2328 = 426917500850542042469994160710288194856997036840. 
2. Compute the residual after dividing by the number of tickets: 426917500850542042469994160710288194856997036840 mod 2492 = 160. 
3. This is the winning ticket, held by @knircky. 

 __Congratulations!__

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@steem-ua · Jan 1 '19

#### Hi @frdem3dot0!

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Your **UA** account score is currently 3.532 which ranks you at **#6196** across all Steem accounts.
Your rank has improved 314 places in the last three days (old rank 6510).

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@tts · Dec 29 '18

To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/frdem3dot0__sbd-update-conversions-currently-profitable.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.

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