First of all, I'm newbie to trading.
I quickly realised there's an opportunity to be made by selling STEEM for Steem Dollars in the internal market here
Not sure if I can follow you here. The internal market gives me a little less than 0,125 SBD for 1 Steem. The external market values Steem at 0,17-0,18 USD. SDB should be something close to a USD. Selling Steem for SBD on the internal market seems to take a loss of 10s of percent. Where do I miss the point you make?
Yes and about 30 minutes ago, 1 SBD was worth about 6 USDs in Bitcoin on Poloniex..
WOW! Now am getting interested to understand how SBD is pegged to a USD and who actually controls that, so who is the central bank trying to keep the pegging more or less to what is was the general idea and what is written in Steemit Whitepaper.
It's up to anyone to do it as part of their trading, there's money to be made by buying cheap SBD. It has been working fairly well so far except for some corner cases, i guess.
Ah ok, just checked if BTC did something strange but it didn't. WOW indeed! SBD 7x more valued, now much less, but still. Ok, a flaw in the pegging, since let the market execute pegging will result in speculations which makes SBD less stable and therefore less trusted when we want mainstream to accept SBD.