Great job, nice way to bring more HBD awareness through POLYCUB. Can a whale successfully buy $300k HBD now? Don’t know how these things work
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Great job, nice way to bring more HBD awareness through POLYCUB. Can a whale successfully buy $300k HBD now? Don’t know how these things work
As far as I understand, it is possible to convert Hive to HBD, but this takes several days and the price may change. Or am I wrong?
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Yeah, through the blockchain right?
Exactly, but, as I understand it, it is risky in terms of a possible increase in the price of the Hive, just during the conversion period.
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This is correct - there is a delay on conversions which could lead to you losing money on the conversion. Ausbit built a great tool for tracking conversions
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Yes exactly, on-chain
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They could, but it would take quite some time. The best way to do it would be to buy in small few $k chunks, wait for someone to arb the pHBD price back down to $1, then buy again and keep doing that for several days or even weeks in the case of buying $300k.
This is why HBD needs more liquidity. pHBD having $5M in the LP could solve this
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Strangely, with a lack of liquidity, the price should skyrocket, but this is not happening yet. What caused it? As I understand it, the interest in the coin is very high.
You mean the price of pHBD?
It’s always pegged to $1 - same as the price of HBD since it can be freely arbitraged
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I understand that HBD will strive not to fall much below the dollar, but it cannot become more expensive how was it before? Sorry, I thought that if the Hive overtakes the HBD, then the HBD will reach for it.
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It’s always possible. HBD is a soft-peg to $1. Arbitrage will always seek to even it back to $1. I don’t foresee another event like the past as that was a coordinated event by Koreans on exchanges to skyrocket HBD and make a huge profit.
If it does happen, then that’s awesome for us! Huge profits.
If it doesn’t, then HBD functions as it should: pegged to $1
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