Steem Dollar conversion to STEEM uses a currently incorrect assumption
The assumption that the conversion process makes is that 1 Steem Backed Dollar (SBD) is equal to $1.00. At the time of this post one SBD is equal to $1.573 which means that by doing conversion you will be missing out on $0.573 worth of STEEM for EVERY SBD converted. You are far better off using the Steemit Internal Market to trade your SBD for STEEM at the current market rate. This will remain true until the SBD price is less than $1.03.
Announcing the @PSA account
I, @leongkhan, have created the @psa account in order to inform Steem user about mistakes they are making that are causing them to lose money or creating security risks for their accounts. Our first campaign is tackling the all too common conversion of SBD to STEEM using the wallet tool while SBD is worth more than $1.
I send out messages to accounts which the blockchain indicates are using this tool to warn them directly instead of hoping that they will stumble across a warning post.
If you have an idea for other messages that need to go out or would like to support the cause, please let me know in the comments below. I'm working writing a script to automate this process, if you are good with Python and can do it quickly I'd gladly take the help.
Disclaimer
Rewards from this post will be used for messaging capital and this account will also be used to upvote posts as I see fit.
