So when we look at dollars they should be the same, right? WRONG! There are some wrong calculations and you are losing out on some valuable Steem! @papa-pepper Brought this to our attention a few weeks a go, so big shout-out and thanks to him!
The Problem:
It looks fine at first glance but when we look closer and do the math this is what we get.
4.078 SBD x $1.66 = $6.76
1.964 SP x $2.00 = $3.92
$3.92 / $6.76
That's not 50/50!
$3.92 / $4.07
That is closer to what we would expect from a 50/50 payout.
The Solution?
Let me show you.
Step 1:
Step 2:
When you Steem Dollars get sold, it will automatically be shown in you wallet under Steem.
That was easy right?
So instead of making $7.99 we made $10.68 for that post. That's like 25% more! So go ahead and sell trade on the market.
You will get the hang of it in no time! =)
Update: Price is currently quite low, you will get so much more Steem than when this post was created.
So many Steemians are not aware of this. You could help them out by resteeming this post and help educate the newer users.
Some other posts related to editing and making your Blog stand out an look awesome! Check them out:
Formatting and Editing your Blog | Cheat Sheet Included | Just COPY and PASTE!
Text Dividers for your posts. Easy to use! Just COPY and PASTE
Resteem? Only if you found this useful and think other Steemians will too.
Thank you for reading! Steem on Steemians!
Resteem? Only if you found this useful and think other Steemians will too.
Thank you for reading! Steem on Steemians!
Hey @scrooger
** Apprecited Your Work.. I am very much impress **
A big Thanks
I would like to request you please keep posting this type of valueable content for the community of steemit as this platform is growing up day by day .. I would request you that you must support new steemer like me and other .
I am in love with one of my post as a senior steemer I need your Honest feedback regadding that . If you get time from your busy life and write your comment upon it . It will be really apprecited ..*
If I missed I do Apoligize for that ...
Lots Of Love For Future Posts
Bitcoin Secrate
Waiting for feedback on post
Regards Sophia Olive
I checked your post! Nicely done! You are doing well and need to keep it up. Only thing I might have some critique on is just a few spelling mistakes here or there. If you use CHROME browser it will spellcheck for you. Other than that, cool post =)
ANON FELT IN LOVE WITH ......nice post thx for UPVOTED AND RESTEEMED IN A SEC
https://steemit.com/introduceyourself/@mfg/hi-stimians-i-m-anon-i-come-from-anon-puerto-ricko-i-love-steem-and-all-off-you-i-m-here-to-bring-the-happiness-and-love-to-all
Thank you for making that "easy".
This doesn't have to be rocket science, but quite often I feel as though I need to contact The Rand Corporation for instructions regarding this entire endeavor.
As such, I think I'm taking the track of, "I just love the intelligent people on this platform, and if I make a few coins doing it, all the better."
If you need any more help let me know.
On another note, I have noticed you are upvoting a lot. I suggest reading this regarding Voting Power. If you vote too many time too fast it has a negative effect on your Voting Strength https://steemit.com/steemit/@scrooger/voting-power-101-how-to-vote-when-to-vote-when-to-stop-simple-and-easy-explanation
nods
@denmarkguy had a bit of a pow-wow with me and reminded me that it's not quite the same as
Crackbook... erm, Facebook.I'm not entirely sure what the algorithms are and how the system works at ye ol' steemit central, and I have a sneaking suspicion that I'd like to put to rest (with verification and validation) that there isn't something shady going on with some of the posts that I see in "trending" making loads of cash that are crap in comparison to others.
Sure, I know ... they got in on the shizzy early. They have loads of followers, etc. etc ... but ... still.
I'm skeptical.
In the meantime, I shall continue to champion good people such as yourself and "upvote"
"Resteem" and follow.
Thanks for the resteem and follow! Yes I know some posts aren't always what they are cracked up to be. Some users have been here a really long time though and know how to work the parts of the system that is workable.
There are bots that can vote content. I'm not saying it's a good thing, I'm also not saying it's a bad thing.
Many things to consider and try to understand. Dig deeper mate. It's fun to learn about this interesring platform =)
This post received a 3.3% upvote from @randowhale thanks to @scrooger! For more information, click here!
100% Vote at 86%
Lol, I am doing an experiment... Thanks for the vote @freshman... Uhm, I kind of need you not to vote on my comment. lol
Testing something. Please don't Upvote this =)
100% Upvote at 70% Voting power
When are they going to simplify this process? When will anyone who knows what the fuck their doing actually sit down in plan simple fucking terms and explain if this is a real deal or some scam were getting involved to steal your ideas? I'm seriously doubting steemit to be a legit site at the moment since it seems people want to use bots and spammers to make a quick buck on here while the rest of the simpletons get a nickel for their efforts with real organic following.
Steemit is still a young. Scam? No way! Theycare working on it as they go and the people behind it are very respected in the crypto community. Yes, our newbies are having a rough time getting started. Nothing hard work can't take care of. I know there is a lot of development still to be done and when this will happen I am not sure... There are voting bots, some do good and some not so good. Take your time to study more about Steemit and the people involved. There are so much to learn. There are the few out there who post absolute shite and get huge payouts. This will not be a long term strategy though. Keep at it and post quality posts. You will be rewarded in the end.
Yet they argue its bad for newbies to upvote their comments, posts, etc. Why is that? Why shouldn't I upvote my efforts? Anyone else disagree? You shouldn't upvote your hard work? Because that is what taking advantage of the concept here? But voting bots and vote cliques and people using multi accounts to just pass steem back n forth is perfectly legit ideas that you should go with right?
Why shouldn't you up vote your own post? I thought that was the default, anytime I post it automatically up votes.
I know the system is not perfect and there are lots of votes passed around for things that never get read or viewed. Running a massive site like this there are loads of things to control. It's not easy. Slowly but surely they will figure it all out and make it more fair. People will always find a way to make money no matter what...
@scrooger great post as usual. You are so knowledgeable and a fantastic teacher. Thanks so much for sharing :)
Always a pleasure! Everything we learn here makes us better and more profitable. Good luck and have fun!
We are on the bleeding edge of blockchain innovation. Don't fret if things do not fit the designers' plans. The market chaos is constructive, not destructive. Embrace it.
It was very useful guide for me. Thanks.
So we keep the SBD....
We trade the SBD for STEEM then convert to STEEMPOWER
Amazing post and an eye opener, i'm new on Steemit and would never know this. Thanks again.
Most welcome mate! Since your new, this is also a very helpful post https://steemit.com/steemit/@scrooger/voting-power-101-how-to-vote-when-to-vote-when-to-stop-simple-and-easy-explanation
Thanks, i have read it already! i was voting at random and thought it's good though i felt i shouldn't until i saw that post.
Coolbeans then! =) have a good one mate!
@scrooger thank you for this
I have just learned a new stuff about steemit.
But do yoi think that this can be corrected or is it how the system is designed ?
Thanks
@arizonawise.
I know it was designed like this at 1st but I am sure there are corrections that they are working on
okay..thanks
I don't convert my SBD to STEEM. To me, its not worth it. I rather rack up my money.
Whatevee you like. Remember. Steem is a cryptocurrency that fluctuates. If the recent weeks has shown us anything it's thatcthe market is booming. More steem power means your votes will be worth more. Much much more. Just my 2 cents. The choice is up to you.
I just earn my Steem power by upvoting other people's posts and comments.
I guess that's ok. You will earn a lot more if you have more steem power though
meep
MEEP!? Meep? Meeeeep =)
MEEP meep meep
Meeeeeeeep.... xoxo
meep
Highly appreciate the tricks for maximising the revenues from the same post ! Keep posting
This is a great post @scrooger ... this isn't something I knew about and it's definitely good advice with some posts of mine being paid out soon!
Whoohoo! I love helping Steemians! One for all and all for one! You are welcome mate!
As a new user this confuses me... everyone can cash out on their steem dollars, which they do, which should drive its price down; and isn't Steem the currency investors would buy? driving the price of Steem up. Steem should hold more value, relatively to steem dollars in that case. Yet the opposite is happening. What am I missing?
Currently a lot of users are selling their steem. Not really investing, thiscis because of thw update where a lot of posts had massive spikes in payouts. So many are selling. Driving the price of steem down. If the price of steemcis going down it's a good time to use SBD to buy more steem
hmm I see, my premiss concerning Steem was incorrect. Thanks for the clarification
Welcome to Steemit @scrooger!
I'm a bot-helper, and I'm created to help. Congratulations on the registration on Steem - you really like it here! If you like me, make an upvote of my comment and follow me. Your upvote will allow you to give more money to new users, such as you. Let's make Steem better together!
I follow you, and to get more upvote and resteem - follow me!
All the money I earn will be donated to charity.
Steem on!
thank you for the post it help educate me .
You are most welcome! It's what I like doing =)
What is the best way to convert SBD to steem power?
There are few ways. I like the internal market because it's fast and easy.
I will try it next time
So I do understand that by selling on the market you get more steem then by just converting internally. What I am wondering is, if I go to https://coinmarketcap.com/currencies/steem-dollars/
it seems that it's somewhere worth even more than in the market here on steemit. And I alos can buy SBD on bittrex! So if I just want to be invested, should I invest in steem or in steem dollar?
I would be investing in Steem and then converting into steem power. On the steemit platform steem power offers you a lot of rewards in the long run
More steem to us :)
Yes! Pay it forward. Let your friends know =)
Thank you for this one. atleast I know what to do when i got my first steem lols.
Cool. Check out I have similar posts that arr great for new users
In my understanding it is good, as you have shown, to convert them in the internal market. The problem you have shown on first step is that converting them (using the convert option) gives you 1 dollar of Steem for every SBD.
Thanks for helping the community with showing this.
@okean123 I try my best. Things I learn and pick up along the way . My other post of helping the newer users to understanding voting power has received great feedback and I know many benefited from from it. So I'll keep at it. Thanks.
Thank you mate, for this valuable information, worth reading post as always.
Much appreciated! Thank you =) High five to you!
We should never convert SBD to STEEM. We will loose money.
Initial day's of mine, I did that.
Later did the math and came up of what you just explained above :)
Lots of users still might not know, given new people are flooding into this amazing platform. This might help them.
Good for you for figuring it out earlier! Thanks mate! Have a good one!
I didn't notice that but I always sell on the market instead of converting from SBD to STEEM. Thanks for bringing this up so more people will be aware of this and increase their chances of not getting hurt from the price fluctuation.
You are most welcome! =) I try to help where I can, with so many new users there are some basics they need to know
A very useful post, thank you, @scrooger! That’s how I did it last time I had to power up: sold my SBD on the inner market for STEEM. Definitely more value for the money than 100% SP posts or the built-in SBD => STEEM conversion.
but what we get after we sell sbd ?
You get Steem. Way more than you would have if you converted.
and then we can redeem steem ?
We redeem Steem Power and SBD. The SBD needs to be traded for Steem on the market
Good post, I think I came across another post with similar idea, but the wording was very different. In that post, it suggested us to turn SBD to Steem (Not Steem Power), and do it in Internal Market.
You're doing the same thing, but the title is "Why you should not convert your SBD to STEEM?", I am little bit confused.
And also, your tutorial said to sell SBD in Market, but the diagram shows buying STEEM from the Market using SBD.... so more confusion....
Would be good if you can clarify for me. Thanks a lot.
Steem and SBD is not the same. We have two options. We can convert SBD to Steem (less effective) or we can use our SBD to buy steem (thus selling our SBD for STEEM) this way we get way more value out of it. Hope this helps. Let me know if you have more questions
Thanks for the clarification. Now it makes sense to me.
Glad it makes sense! Good luck with it! =)
Good post, I did this. It seemed better off and faster too.
Indeed faster and better! Thanks mate, I will add that it's faster in the post. Thanks for that
And congratulations on your 400 followers, mate!! Let’s see how long it takes us to reach the next milestone! ;)
Yeah! Saw I just hit it! Thanks mate! Won't make a post about it though. Maybe at 500 again. Don't wan't to spam my followers with those posts the whole time =P thanks a lot mate!
Or maybe I should... hmmm... hehe
Very good information @scrooger , I will keep it in mind
You are welcome mate!
I never thought of it. Thanks for sharing
Most welcome! Glad it can help out a bit
Awesome man thanks for the tip! Very useful
Sure thing. Have to help out where we can =)
Very good pointers for the new crowd just getting hang of things!
Thanks mate! Looks like am gathering a following of newbies and starting a bootcamp =P
Helpful, I'm getting my first pay from my firstt 2 posts about $150+, but I'm kinda lost lol. Doing the internal market thing, hopefull I won't lose money.
Promise you won't lose. You will make more for sure! Just follow the steps =)
This is the kind of articles that make this platform so beautiful! Keep it up!
Thanks. It's not extremely new news but I like taking what I have learned and sharing with my followers. Glad it helped =)
But why is the current price the 1.52 on the internal market? Seems like you would be better off transferring your SBD out to local currency and then buying Steem. Right now Steem is $2usd and sbd is $1.77.
That is definitely an option. I know many users do it like that. For the sake of this post I was trying to keep it as simple as possible.
I was wondering about this so very timely and helpful post. Big Thanks!
Most welcome friend! Glad it could be of help
Great post @scrooger, thank you! It's important to point out details like this for the community. By the way, isn't there a warning when you try to convert SDB to Steem instead of selling them on the market?
Yes there is a warning, don't think it states that the conversion will be as low as it is though... Thanks for the kind words mate! Have a great day!
Thanks for the tip, man.
You are most welcome mate!
Interesting. Thanks for sharing this!
Always a pleasure and happy to help =)
A very valuable tip! Thanks.
Always mate! Glad you found it useful =)
Oh my god! Million thanks for your post, I have never noticed about it. At the begining I just simply make it 100% steem power. But just now change to 50/50. So, it seems like to waste a lot before..But that's fine, just treat it as a experience..Anyway, thanks a lot!
I did exactly the same. Was neat when I heard about this. Just had to share!
i am totally lost with the intent of this post, since you are talking about selling the steem dollars instead of converting them to steem.. but the only difference I am aware of between those two options is that the 'conversion' just uses the average price of steem over 3 days, rather than using the current market price when valuing the steem.
"Instead of converting your SBD to Steem (this takes 3.5 days) , go sell it on the market (almost instant)."
isn't the outcome here basically the same in both cases? in that you started out with some SBD and ended up with steem?
When converting it normally converts to a lot lower amount of steem. The outcome is the same. It's the end result and quantity that's the same. Trading on the market vs converting is faster and more profitable.
Isn't the price from the conversion process just an average of the price of steem over 3 days? It could theoretically result in a higher or lower price than the current price at any given moment. That said, I agree that it is better to sell it in the market instead of using a conversion, since you have more ability to decide on the end price.
As far as I know and what other users said, you always get more fro mthe market. You can test if you want =) could be interesting
Now, everyone should know about this ;)
I agree! Makes a big difference in profits. Spread the word!
Resteemed! :)
So I didn't get this from the post - is it better to own SBD or Steem in the long run? Is the SBD rate likely to go down?
Taking steem and converting it to steempower is best for long term curation and upvote rewards.
I know but if you want your steem or SBD ready available to withdraw, which is it best to keep it in, Steem or SBD?
I would go for Steem.
Thanks... this is super helpful!!!
Happy to help mate!
I followed your advice and went to the market and converted My SBD for Steem for the very first time. And it was quite easy. Thanks again 👍🏻
I know right!? Awesome mate! Now you can make more Steem! Good luck!
Really good post! Helped me a lot! @damiradrovic check it out :)
Always a pleasure! =)
Just tried following your instructions but get a "Transactions broadcast error" message. It could just be that I can't follow simple instructions so I've attached a screenshot showing what I was attempting to do.
You have to put the 11 amount in SBD. Then it will work out how much steem you will get
I thought it might have been something as simple as that. Like I said, can't follow simple instructions. Thanks for replying so quickly.
Sure thing mate. Cycling at the gym and commenting as I go. Good luck and have fun!
It worked !!!
Paid 11.746 SBD for 8.326 STEEM
Sitting in my wallet now !
Thanks again. Enjoy the workout.
You are most welcome! So much faster right? Thanks mate!
Thank you for the information
Welcome! Glad it could be of use! =)
Resteemed it. This should be for all to see.
I already converted some sbd to steem by selling it on the internal market and then power it up. Good to see a confirmation that I did the right way :)
Awesome sauce! Thanks for the resteem!