Ask for 50% SBD/50% SP to Power Up 570%!
Collect Steem Dollars in order to Power Up 570%!
I am the owner of this image and the similar content on Hive.
For various reasons there are people who prefer Steem to the Steem dollar but what if I told you you could increase the amount of Steem you get by choosing the 50%/50% option for payouts?
Sounds Good? The Steem dollar is at a 773% premium over the US dollar. Suppose your post gets 10 Steem in rewards. Then 5 Steem goes to those of us who voted it up and the rest goes to you. That's 5 Steem to pay out. If you choose a 100% power up you'll get 5 Steem Power. Now if you chose the to get dollars, you get 2.5 Steem Power and 2.5 Steem converted to dollars. So then you'll have to convert.
But there is a trick here. For this conversion on chain, the blockchain assumes the Steem dollar has the same value as the US Dollar.
In the case of a 10 Steem post you should get $3.25 USD. But instead of paying $3.25 USD, the blockchain pays you $3.25 SBD. Accoring to coingecko $8.73 USD each. So your dollar portion payout is worth $28.37 USD. You can then go to the Internal market, or some exchange and trade your Steem dollars to Steem. So you could change those 3.25 SBD to BTC on an exchange and then buy Steem on the same exchange to get 21.82 Steem. Then take possession and power it up.
Now the result is you power up is (=22+5) 27 Steem! From a post that was only going to pay you 5 Steem! That's more than you and the curators were supposed to get together! Where does the extra Steem come from? It comes from the speculators that are driving the price of the Steem dollar way above the US dollar.
Now I rounded down because there will be fees on the exchanges. But you could trade on the internal market which works on the blockchain itself. Currently you can trade up to 100 Steem Dollars for Steem for 0.145 SBD/Steem. Doing things this way you get 28 Steem power instead of only 5 Steem Power.
Now maybe that's not a big difference to you, you can then power up these Steem you traded. But there is no need to do it immediately on receipt of the rewards as the Steem dollar shows no sign of weakening to normal.
Whenever I convert SBD to STEEM, I'm always amazed at the exchange rate!
It's seems way too good to be true at times
And by 'convert' you of course mean 'trade', right?
Yes, of course!
Steem Dollars are easy to pump because there is a limited supply so they pump high and then Steem follows. The important point like you said is to set the awards here to get as many SBD as possible. But where is the setting for rewards... I guess in the wallet.