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RE: How to buy a Steem Dollar for less than a Dollar
You're correct, if the internal market stays the same then you can ge in at a better price. It's gone down more than bittrex though. It went from 0.38 ish to 0.31 ish while bittrex only dropped from 0.000352 to 0.000340s in BTC.
I have a market neutral stance, I don't care what happens to the price of steem (in this trade), only that the difference in the internal and external markets tightens. The premium drops. It really should because when I first looked 60% is just ridiculous.
Now stands at 29%.
I didn't want to wait any longer, so I executed my order :)
Thanks again for sharing this!
Haha, good stuff, glad I could offer some value. Now... fingers crossed, the market adjusts over the next couple of weeks.
Looking behind, it would have been even more profitable to convert to STEEM and hold. Look at its price now: 0.0026 BTC
Not what I expected to happen xD
But your trade will still earn a nice return ;-)