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No. Nobody profits. The tokens you converted get destroyed by the blockchain, and then the new STEEM is created out of thin air. If you were to use the BlockTrades interface to sell your SBD for STEEM, you would get a lot more.

 7 years ago  Reveal Comment

NO, blocktrades has nothing to do with the Steemit wallet conversion you used. No one actually profits from it, as the SBD is burned that you converted.