1: You are right, in fact the estimated value in our wallet is in SBD.
From FAQ:
Steem Dollars - Steem Dollars (commonly abbreviated SBD) are liquid stable-value currency tokens designed to be pegged to $1 USD.
2: The system use current median history price to convert estimate the sbd value of steem.
You can use API get_current_median_history_price to obtain it, or check it from steemd.com
To note that quote is not always 1 steem.
The feed price is from the witnesses.
Yes, and as a witness myself, I can tell you we are mostly pulling our price feeds from Bittrex. Used to be Poloniex but there price was not that accurate of overall performance so majority starting to use Bittrex price now
Thats a great tool you have built @oflyhigh ..Nice job!
Thank you very much for your comment.
Thank you both. Very informative answers!