The other day I was checking things out on the Steemit market, trading a little bit of SBD for Steem, when it occurred to me that a little bit of day-trading, just between these two currencies, could be quite profitable with enough volume.
Now, me, I'm just trading small quantities, but I could imagine someone trading large numbers of SBD for Steem and vice-versa, could make a tidy profit.
So I'm going to conduct a little experiment. Feel free to tell me what you think. With a little bit of Steem-backed dollars, being that they currently stand at around a value that is around 6 or 7% greater than Steem, I can buy some Steem. Then, I can wait a little while for the margin between the two to close, or even for Steem to supersede SBD. Then I can simply trade back into SBD. Wait for SBD to rise, rinse and repeat. Ultimately this is what day-traders are doing, just with a bunch more coins.
Being that the two coins don't move in strict unison with each other, you would think larger scale traders could make a significant sum doing this. What do you think? Waste of time? Or is this a no-brainer and everyone has been doing this and I've just now realised this could be profitable? Share your thoughts.
