The markets have been going down for a while and I woke up to that I should be buying some STEEM with my SBDs.
I know that conversion is a process taking place on the blockchain (though not available at Steemit.com interface at the moment), which gives you exactly 1$ worth of Steem based on the average price of it during the 3.5 day conversion process.
Except it doesn't.
Because there is some haircutting rule when the dept level exceeds 10%, which means the conversion doesn't give an actual dollar worth of Steem.