I'm going to tell you how to earn over 10% profit from the HBD market right now.
With the recent hard fork, a new operation was introduced to help keep the HBD price under $1.05.
How does it work?
The new operation is called collateralized_convert. It converts HIVE to HBD at the fixed price of $1.05. It's a little confusing how it converts the HIVE.
Convert on peakd.com:
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Let's assume you want to convert 1000 HIVE to HBD. Your HIVE will be locked as collateral and It will calculate the minimum median HIVE price and give you HBD worth half of your HIVE at that price as a loan. Then after 3.5 days, it will calculate the prices and use the median of 3.5 days then it will take the cost of the given HBD from your 1000 HIVE and return the remaining HIVE to your account.
So if the HIVE price stays stable, you pay exactly $1.05 worth of HIVE for HBD. If the HIVE price goes up, you pay less HIVE for the HBD. If the HIVE price goes down, you pay more HIVE for HBD.
How can you take advantage of this new operation?
You can make a profit using this feature when the price of HBD is over $1.05.
Basically, you buy HIVE, convert it to HBD at the rate of $1.05, and sell it on the external market for a higher price. Repeat as long as HBD is above $1.05.
HBD is currently trading for $1.14 on Bittrex. It also hit higher prices like $1.8 a day ago.
Why HBD goes up?
The market cap for HBD is around 5 million. That's nothing. A fraction of that is on the exchanges. For example, Bittrex is holding 372,058 HBD right now.
The low volume makes it more volatile in the external markets. But it hopefully will be fixed by the new operation as it introduces more HBD into the market.
Where can you find the new operation?
It's already on peakd.com > wallet > click on arrow under HIVE balance > convert.
Hi, I was scrolling. Why u used my post screenshot?
Sory its mistake
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