Voted for

• Yes, its possible.
• I myself has earned profit from it.

The lower the price of Steem, the more Steem you can get with your Steem Dollars (SBD), and the higher the price of Steem, the more Steem Dollars (SBD) you can get with your Steem.
I used (and sometimes I still use) the Internal Currency Market to trade between these two cryptocurrencies.
You can get profit, if you buy and sell with the right prices.
Example:
Let's say that you have $1 SBD to trade.
The current (2019.05.04, 17:58 CEST) price of Steem (Buy Steem) on the internal currency market is $0.350202 SBD. The current price of Steem (Sell Steem) on the internal currency market is $0.350196 SBD.
If you buy Steem (sell $1 SBD) with this price, then you get 2.856 Steem.
If you want profit from this, then you need to wait, until the (sell) price of Steem go up.
Let's say that the (sell) price of Steem will be $0.355 SBD in the near future.
If you sell 2.856 Steem with that price, then you get $1.013 SBD, which is $0.013 SBD profit.
Another example:
Let's say that you have 1 Steem to trade.
If you sell 1 Steem (buy SBD) with the above mentioned price, then you can get $0.35 SBD.
If you want profit from this, then you need to wait, until the (buy) price of Steem go down.
Let's say that the buy price of Steem will be $0.345 SBD in the near future.
If you buy Steem (sell $0.35 SBD) with that price, then you get 1.015 Steem, which is 0.015 Steem profit.
Nowadays I mostly sell Steem Dollars (SBD) for Steem, and I Power it Up to have more Steem Power.