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SBD supply going down - the internal convert function is doing its job. by exyle

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· @exyle ·
$18.81
SBD supply going down - the internal convert function is doing its job.
![IMG_1923.jpg](https://cdn.steemitimages.com/DQmTdvvE8HkAW4UvRiZiwZkUW5fikFywysd5RKPxziLHzDi/IMG_1923.jpg)

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If you remember I was checking the Power down statistics not long ago.

On that screenshot the amount of SBD in existence was also visible.

# 1 November 2018 (15 days ago).

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![powerdown.png](https://cdn.steemitimages.com/DQmZrfTnR9kAfwF9f5shEUK5fFkQ2bA5vTGPuj9JqpzUqPJ/powerdown.png)

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# 15 November (now).

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 ![Screenshot 2018-11-16 at 09.28.50.png](https://cdn.steemitimages.com/DQmZ7LwMUGuZmJhfEKBefZsrPWdvg5XLhYVN4grifMT9ZiM/Screenshot%202018-11-16%20at%2009.28.50.png)

------

The supply of SBD is going down.

The reason is simple.

An SBD is basically an IOU for $1 worth of STEEM. 

Through a convert function *(not internal market)* in the blockchain you can always convert (in 3.5 days) a SBD to $1 worth of STEEM. 

In this process the SBD is destroyed.

With the the SBD price currently at 92 cents it makes sense to convert because you get more STEEM for your SBD's than when you would use the internal markets. 

*(If you don't want to go through this hassle you can also choose to power-up your post with 100% SP as long as SBD is below $1)*

This is how the SBD peg works on the underside. 

People buy SBD and convert until the price is back to around $1.

Of course this process does create a lot of extra STEEM so the liquid supply has gone up a bit as you can see in the screenshots.

Let's see if users will power this up.

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https://steemitimages.com/DQmdWG7QanG3ZEgJQ4SiLkyQ5BKtxGU7jrrnwDTqsz3r177/Logo_Side-by_side_1000.png

------

#### I am part of witness @blockbrothers. 

Please consider us for your witness vote if you think we deserve it [here](https://steemit.com/~witnesses):

----


https://steemitimages.com/DQmd4uuke7jSGrYPZvWBaXYtfaupBWCkSNSx4gdVrQdjVcs/witness_vote.gif


-----

<sup>
[Vote for @blockbrothers via SteemConnect](https://v2.steemconnect.com/sign/account-witness-vote?witness=blockbrothers&approve=1)
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πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 341 others
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@serkagan ·
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vote details (54)
@muqarrabshah ·
@exyle i am definitely going to upvote
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@muqarrabshah ·
![Screenshot_20181116-140838.jpg](https://cdn.steemitimages.com/DQmXdxFAhuR78mTfFtx1xwR7SCttQCNeVgme3z7deZ6Z1kQ/Screenshot_20181116-140838.jpg)
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@zemiatin ·
$0.05
"Through a convert function *(not internal market)* in the blockchain you can always convert (in 3.5 days) a SBD to $1 worth of STEEM."

Sorry, but how exactly am I supposed to do this? 

Posted using [Partiko Android](https://steemit.com/@partiko-android)
πŸ‘  ,
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vote details (2)
@exyle · (edited)
You can use Steemconnect. @themarkymark wrote about it [here](https://steemit.com/sbd/@themarkymark/good-time-to-trade-sbd-for-steem).
πŸ‘  
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vote details (1)
@zemiatin ·
Thanks. Going to look into that. 

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@gadrian ·
Or use SteemWorld...
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@libert ·
Yes steemworld is easiest one. 

Posted using [Partiko Android](https://steemit.com/@partiko-android)
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@tzap90 ·
still hoping for the stable SBD -1 dollar ratio would be great if other people would use like tether
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@jwolf ·
We need SBD pegged to $1.
πŸ‘Ž  
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vote details (1)
@thesteemgeek ·
seems sbd can hold the ratio of 0.9 to 1.1 thats pretty solid, even better would be a stable 1 sbd ratio but as you mentioned there is the hidden option where you can always trade 1sbd for 1 dollar worth of steem
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@tibfox ·
$0.04
Hey thanks for this explanation :) I hope sbd will come back to 1usd some day.
πŸ‘  ,
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vote details (2)
@robertoueti ·
It will, I think that SBD is one of the most correlate fiat usd that we have.
properties (36)
authorrobertoueti
permlinkre-tibfox-re-exyle-sbd-supply-going-down-the-internal-convert-function-is-doing-its-job-20181116t151619018z
categoryexyle
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@foxkoit ·
We need to get this back 10 $ :))
properties (36)
authorfoxkoit
permlinkre-exyle-sbd-supply-going-down-the-internal-convert-function-is-doing-its-job-20181116t101937504z
categoryexyle
json_metadata{"tags":["exyle"],"app":"steemit/0.1"}
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@maya7 ·
when will the days come,when steem and sbd will gearup again ?
properties (36)
authormaya7
permlinkre-exyle-sbd-supply-going-down-the-internal-convert-function-is-doing-its-job-20181116t104643717z
categoryexyle
json_metadata{"tags":["exyle"],"app":"steemit/0.1"}
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@newageinv ·
$0.04
I have been holding my SBD for some Steem Monsters cards but when the market made this possible, I immediately converted all of my SBD.  Still about 2 days away from seeing the results but I think I will be happy with the amount of Steem I will get for sure!
πŸ‘  
properties (37)
authornewageinv
permlinkre-exyle-sbd-supply-going-down-the-internal-convert-function-is-doing-its-job-20181116t105121186z
categoryexyle
json_metadata{"tags":["exyle"],"app":"steemit/0.1"}
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vote details (1)
@exyle ·
I'll think you be happy too!
properties (36)
authorexyle
permlinkre-newageinv-re-exyle-sbd-supply-going-down-the-internal-convert-function-is-doing-its-job-20181116t182732269z
categoryexyle
json_metadata{"tags":["exyle"],"app":"steemit/0.1"}
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@chesatochi ·
$0.04
I converted 7 SBD and Power Up. :)

Posted using [Partiko Android](https://steemit.com/@partiko-android)
πŸ‘  
properties (37)
authorchesatochi
permlinkchesatochi-re-exyle-sbd-supply-going-down-the-internal-convert-function-is-doing-its-job-20181116t112215982z
categoryexyle
json_metadata{"app":"partiko"}
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vote details (1)
@blazing ·
thanks for giving this insight nice to see this :)
properties (36)
authorblazing
permlinkre-exyle-sbd-supply-going-down-the-internal-convert-function-is-doing-its-job-20181116t112445992z
categoryexyle
json_metadata{"tags":["exyle"],"app":"steemit/0.1"}
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@bozz ·
$0.04
I pretty much power up all of my SBD when I get it unless I am using it to buy Steem Monster cards.  It might be an addiction...
πŸ‘  
properties (37)
authorbozz
permlinkre-exyle-sbd-supply-going-down-the-internal-convert-function-is-doing-its-job-20181116t121548027z
categoryexyle
json_metadata{"tags":["exyle"],"app":"steemit/0.1"}
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vote details (1)
@pouchon ·
$0.04
I recalled when sbd used to be worth $14. 
That was golden time. 
It was a little worried too cause sbd need to stay pegged to The dollar. 
It was good for business and holder of SBD. 
Keep on postin’

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
πŸ‘  
properties (37)
authorpouchon
permlinkpouchon-re-exyle-sbd-supply-going-down-the-internal-convert-function-is-doing-its-job-20181116t134002823z
categoryexyle
json_metadata{"app":"partiko"}
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vote details (1)
@exyle ·
There are no mechanics in place to prevent SBD from going higher. We can prevent it from going lower though.
properties (36)
authorexyle
permlinkre-pouchon-pouchon-re-exyle-sbd-supply-going-down-the-internal-convert-function-is-doing-its-job-20181116t182855779z
categoryexyle
json_metadata{"tags":["exyle"],"app":"steemit/0.1"}
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@robertoueti ·
I think that quantity going lesser and lesser by the time is amazing because we can have a nice cryptocurrency that could be pair with fiat currency.
properties (36)
authorrobertoueti
permlinkre-exyle-sbd-supply-going-down-the-internal-convert-function-is-doing-its-job-20181116t151534289z
categoryexyle
json_metadata{"tags":["exyle"],"community":"steempeak","app":"steempeak"}
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@kus-knee · (edited)
$0.18
Hey @exyle, how about speaking at next years Decentralized!? That would be cool! It’s put on by the only Universiry that offers a Masters on Blockchain technology!
πŸ‘  ,
properties (37)
authorkus-knee
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categoryexyle
json_metadata{"tags":["exyle"],"users":["exyle"],"app":"steemit/0.1"}
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vote details (2)
@exyle ·
If it could help Steem I would consider it :)
properties (36)
authorexyle
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categoryexyle
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@kus-knee ·
Intriguing!
properties (36)
authorkus-knee
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