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RE: Auctions - A little Game Theory for First-Price Auctions
That is where arbitrage comes in. Taking a profit is a form of shorting and it could be seen as going short on for instance BTC or Steem and long on fiat. Which has not been excellent for many people so far, many have been doing ok thanks to the subsidy arbitrage offers. There are also tools to recognize when to arbitrage that I guess the writer will cover in the near future.