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PY: Convert Sbd To Steem

How to convert your SBD to STEEM using Python.

Full, runnable src of Convert Sbd To Steem can be downloaded as part of the PY tutorials repository.

In this tutorial we will explain and show you how to convert some or all of your available SBD balance into STEEM on the Steem blockchain using the commit class found within the steem-python library.

It should be noted that the converted STEEM will not be available instantly as it takes 3.5 days for the transaction to be processed. It is also not possible to stop a conversion once initialised. During the 3.5 days for it to be converted and as the conversion price fluctuates you could actually be receiving less STEEM than what you should. Because of this, the method in this tutorial is NOT the preferred or most efficient way of converting SBD to STEEM. This tutorial just illustrates that it can be done in this manner.

There is a marketplace on Steemit that allows you to “sell” your SBD instantly. With this process you can get your STEEM immediately and at the exact price that you expect. The market place is the better way to convert your SBD. This article provides more information on using the market to exchange your SBD to STEEM

Steemconnect offers an alternative to converting SBD with a “simple link” solution. Instead of running through a list of operations on your account, you can simply use a link similar to the one below substituting the three parameters for your own details. You will be prompted to enter your username and password before the transaction will be executed. https://steemconnect.com/sign/convert?owner=username&requestid=1234567&amount=0.000%20SBD This is similar to the steemconnect links that have been covered in previous tutorials. For a list of signing operations that work in this manner you can go to https://v2.steemconnect.com/sign This article has more information on using steemconnect

Intro

The Steem python library has a built-in function to transmit transactions to the blockchain. We are using the convert method found within the commit class in the library. Before we do the conversion, we check the current balance of the account to check how much SBD is available. This is not strictly necessary as the process will automatically abort with the corresponding error, but it does give some insight into the process as a whole. We use the get_account function to check for this. The convert method has 3 parameters:

  1. amount - The amount of SBD that will be converted
  2. account - The specified user account for the conversion
  3. request-id - An identifier for tracking the conversion. This parameter is optional

Steps

  1. App setup - Library install and import. Connection to testnet
  2. User information and steem node - Input user information and connection to Steem node
  3. Check balance - Check current STEEM and SBD balance of user account
  4. Conversion amount and commit - Input of SBD amount to convert and commit to blockchain

1. App setup

In this tutorial we only use 1 package:

We import the libraries and connect to the testnet.

import steembase
import steem

steembase.chains.known_chains['STEEM'] = {
    'chain_id': '79276aea5d4877d9a25892eaa01b0adf019d3e5cb12a97478df3298ccdd01673',
    'prefix': 'STX', 'steem_symbol': 'STEEM', 'sbd_symbol': 'SBD', 'vests_symbol': 'VESTS'
}

Because this tutorial alters the blockchain we connect to the testnet so we don’t create spam on the production server.

2. User information and steem node

We require the private active key of the user in order for the conversion to be committed to the blockchain. This is why we have to specify this alongside the testnet node. The values are supplied via the terminal/console before we initialise the steem class. There is a demo account available to use with this tutorial but any account that is set up on the testnet can be used.

#capture user information
username = input('Enter username: ') #demo account: demo01
wif = input('Enter private ACTIVE key: ') #demo account: 5HxTntgeoLm4trnTz94YBsY6MpAap1qRVXEKsU5n1v2du1gAgVH

#connect node and private active key
client = steem.Steem(nodes=['https://testnet.steem.vc'], keys=[wif])

3. Check balance

In order to give the user enough information to make the conversion we check the current balance of the account using the get_account function.

#get account balance for STEEM and SBD
userinfo = client.get_account(username)
total_steem = userinfo['balance']
total_sbd = userinfo['sbd_balance']

print('CURRENT ACCOUNT BALANCE:' + '\n' + total_steem + '\n' + total_sbd + '\n')

The result of the query is displayed in the console/terminal.

4. Conversion amount and commit

The final step before we can commit the transaction to the blockchain is to assign the amount parameter. We do this via a simple input from the terminal/console.

#get recipient name
convert_amount = input('Enter the amount of SBD to convert to STEEM: ')

This value must be greater than zero in order for the transaction to execute without any errors. Now that we have all the parameters we can do the actual transmission of the transaction to the blockchain.

#parameters: amount, account, request_id
client.convert(float(convert_amount), username)

print('\n' + convert_amount + ' SBD has been converted to STEEM')

If no errors are encountered a simple confirmation is printed on the UI.

As an added confirmation we check the balance of the user again and display it on the UI. This is not required at all but it serves as a more definitive confirmation that the conversion has been completed correctly.

#get remaining account balance for STEEM and SBD
userinfo = client.get_account(username)
total_steem = userinfo['balance']
total_sbd = userinfo['sbd_balance']

print('\n' + 'REMAINING ACCOUNT BALANCE:' + '\n' + total_steem + '\n' + total_sbd)

The STEEM balance will not yet have been updated as it takes 3.5 days to settle. The SBD will however show the new balance.

We encourage users to play around with different values and data types to fully understand how this process works. You can also check the balances and transaction history on the testnet portal.

To Run the tutorial

  1. review dev requirements
  2. clone this repo
  3. cd tutorials/32_convert_sbd_to_steem
  4. pip install -r requirements.txt
  5. python index.py
  6. After a few moments, you should see a prompt for input in terminal screen.
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