Steem Dollars at 0.0023. Steem is at 0.006. Easy money? or a trap?

in #steemit • 8 years ago

Currently, Steem Dollars are selling for about 0.0023 BTC on Poloniex. I am having trouble generating SD with my posts, so even though they seem overvalued, I bought a small amount. My thought was I could transfer this to my Steemit account, and convert it to Steem, which is currently selling at .006 on Poloniex. I have to wait a week, but it seems like a pretty good bet right now. Any thoughts?

#money #trading
8 years ago in #steemit by
$0.03
  • Past Payouts $0.03, 0.00 TRX
  • - Author $0.02, 0.00 TRX
  • - Curators $0.00, 0.00 TRX
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     8 years ago 

    Yeah, I think it's a trap. What you're trying to do is arbitrage, but the fact that you have to wait a week makes it very risky. Then again, it might work out for you in the end. Now ... To try to get SteemPower, it might be a good idea.

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     8 years ago 

    I agree, and still being in beta adds another level of volatility. And yes, I want me some of that delicious steempower too!

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