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RE: PSA: SBD Not Working on HitBTC Since 3 Days!

in #steemit3 years ago

I also noticed it.. I think the reason behind it, is to stop arbitrage trading.. SBD price in hitbtc is 0.00054 BTC and in bittrex 0.00064 BTC.. There is a big difference in exchanges.. When price will be stable in all exchages, deposit and withdrawal will work again normally!

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That would makes sense if hitbtc themselves were doing the arb, which in stock parlance is called "trading ahead". If they are doing that, everyone would be wise to never use Hitbtc again, as it violates the spirit of running a fair exchange.

I think you have a very good theory there. With the often huge differences in the prices on different exchanges, I'm sure there are probably many attempting the arbitrage angle.