If you choose to convert, your SBD will be changed for the average STEEM price over the next week - in USD;
It’s actually only 3.5 days.
Why is this not more popular ?
Couple reasons:
The conversion function was removed from the Steemit.com website, which is the most used interface.
When the debt limit was/is reached, SBD conversions no longer guarantee $1 of STEEM.
I would like to see more burning happening for both SBDs and STEEM. I’m going to incorporate that into each of my projects and business ventures coming online soon.