Let's save the SBD pegsteemCreated with Sketch.

in #sbd6 years ago (edited)

Screen Shot 2018-11-15 at 11.13.53 AM.png


SBD's current value is around 93 cents. Blockchain allows converting SBD to STEEM with a $1 valuation on SBD.

Here is how you can do it with Lightsteem:

from lightsteem.client import Client
from lightsteem.datastructures import Operation

import logging


def convert(client, owner, amount, request_id):
    return client.broadcast(
        Operation('convert', {
            "owner": owner,
            "amount": amount,
            "requestid": request_id
        })
    )


if __name__ == '__main__':
    client = Client(
        loglevel=logging.DEBUG,
        keys=["active_key"]
    )
    try:
        resp = convert(
            client, '<your_username>', '8.000 SBD', <random_integer_id>)
    except Exception as e:
        print(e.raw_body)

Note: There are probably a couple of frontends allowing this for end users. But can't recall their URLs now.

Edit: Check SBD-Converter to do the convert via web interface. Also, @themarkymark explained converting via Stemconnect on this post.

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I have written about this before and voiced my concern over recent HF20 updates.

After the last crash the debt ratio is at 7.21% and we are still printing SBD at 100% rate. We are heading straight for the 10% haircut at which point the peg can no longer be saved.
source

I did predict this would happen in a few years after the next Bull market, but if it happens in this bear market that would be extremely bad for steem overall.

Converting will of course help and we 'solve' the problem by inflating the steem pool. But that assumes that many people will sell their SBD at values slightly below 1$ since the masses will not manually convert as they are completely unaware of the problems.

@mwfiae made https://mwfiae.github.io/SbdConverter/. It's open source, and you reviewed the utopian contribution presenting that tool ;-)
Edit: steemworld by @steemchiller can convert as well. I think that's my favorite choice for that :P

@mwfiae made https://mwfiae.github.io/SbdConverter/. It's open source, and you reviewed the utopian contribution presenting that tool ;-)

Thanks.

I remember reviewing that one, but couldn't recall the name :)

Conversion takes about 4 days as I can see and the question is which price is taken, the price now or after completion of the process?

Fuzzy on the details, but think it's some kind of moving average based on the price feed.

You can convert directly with SteemConnect as explained in this post

Thanks. Updated the post.

!applause

Does lightsteem play nice with pyqt? This looks like something worth writing a nifty little Qt app around.

It should :)

As one who is not a techie and doesn't even read posts with code in them usually, I think this is too complicated for many average users to do. Maybe a few whales will save the peg.

You can also Convert SBD using SteemWorld. Here's a tutorial for it.

Yeah, I'm not sure I want to experience 10%+ debt ratio days.

I made this frontend a few days ago, it uses steemconnect: https://boinger.io/convert

pjau.PNG

Time is a river,this is one year old !BEER



Hey @emrebeyler, here is a little bit of BEER from @isnochys for you. Enjoy it!