Steem Dollars at 0.0023. Steem is at 0.006. Easy money? or a trap?
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?
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.
I agree, and still being in beta adds another level of volatility. And yes, I want me some of that delicious steempower too!