Interesting strategy to try to even out the spreads.
Trading 10000 HBD a day in such a low liquidity token we would imagine to have a significant impact on the price?
Existing into Bitcoin has a significant cost when trying to get Bitcoin off of the exchanges especially when it is pumping. Fees go up.
With such costs do you think it is still worth the risk? 👍
I would expect so, but UpBit seems to absorb it rather quickly. It does distort the internal market since I primarily trade there, and it takes time for arbitrage to happen.
I've noticed/caused some big swings on ionomy when trading there.
It doesn't seem to have much liquidity so it is possible to move the needle with quite modest trades?
Yes, it's the most illiquid of an illiquid bunch.
I'm rereading your posts on HBD. Even though I've been on both chains since 2017 I never quite got the importance of HBD until fairly recently.
This post clarified it's position perfectly. Thanks for sharing. 👍
I'm buying HBD and getting some good returns using the 3 day conversion method.
With HIVE over a dollar its a buy all the way. 👍👍
I personally rarely touch Bitcoin as part of my process. I keep fiat on Bittrex and it's rare for me to transfer Bitcoin out, only keeping it briefly on the exchange.
I learned my lessons years ago about leaving Bitcoin on centralized exchanges. Not a good idea when it's pumping.
Its amazing how many of these exchanges freeze just when we want to cash out! 😱😂👍