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RE: Testing The Steem Dollar Peg
If the goal was to make a profit, couldn't someone just buy SBD (current .75cents), convert it and then sell the steem off at approx 2$, then take that 1.25 profit and buy more SBD if they're still at a low price?
I'm in it for the long haul, but is the above correct, or does my thinking need an adjustment to get back to correct?
That's the idea... if the market is undervaluing SBD, we have to start abusing it. The only real risk is a sharp decline in the price of STEEM, which would probably further depress SBD anyway. As I show above, even in a week of a steady downturn in the STEEM price, you can still break even during a conversion.