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RE: Beware of converting SteemUSD to BTC right now

in #blocktrades8 years ago

If you read it again without bias, you will hopefully see there is no assertion or accusation, implicit or otherwise, of dishonesty on your part.

If there was, I would have finished by withdrawing my recommendation for your service in this post, which I did not.

Surely you agree that if 1 SBD is supposed to be pegged to right about 1 USD, then anything else than BTC/USD being equivalent or very nearly equivalent to BTC/SBD is expected behavior.

I understand that in practice it does not work like that, and again, go and re-read the article and you will see no accusation of dishonesty, I understand how blocktrades.us calculates the exchange rate (to a working extent, anyway).

And again I remind you, that if you look elsewhere in the comments for @steempower and my reply to him, I was well aware that it was likewise possible to profit from the reverse operation (at least if you believe the peg will go back to parity at some point).

So of course I took advantage of that (with other accounts). The reason I did not write an article on that was that I did not expect the situation to last for long.

To sum it up, days ago I recommended people to change SBD to BTC using blocktrades, the rate was good then, and it seems to me that a good assumption is that most of the community here is not very well versed in finance and crypto, and they might just blindly go and convert SBD to BTC, receiving in BTC about 30% less than what they would otherwise expect.

You know me from Bitshares for some time now and you know I have been a user of your service for a long time, frankly there is no reason to assume I was accusing you or your company of bad conduct.