Quick question in regards converting SBD to steem on the market. (SOLVED)
My father has a good amount of SBD and just noticed that it's up at about $7.68 USD right now and he wanted to take advantage of that and convert his SBD into steem.
I tried to show him how to do it in market like normal, but.. the 7/2 ratio doesn't seem to be being mirrored over there?
Does it have something to do with lowest ask? Should he not do that and set a different custom price? Or..?
I'm still kind of a newb to this and my father is even more new to the platform, so I guess the question is.. How do I help him capitalize off the current valuation coinmarketcap is giving, when it doesn't seem like the market here is reflecting that? Am I just missing something? Thanks for the help!
I just wrote about this issue. See the top comments - apparently something about Hitbtc having node issues.
Ah... I see. Thanks for the help! I think that mostly answered my question.
I’m not sure, but the SBD price of $7+ is probably what you see on Coinmarketcap. The HitBTC exchange is causing the fake idea of price. I assume the internal market is not taking that into consideration and is working with the ‘real’ SBD price, which is only $1.70 or so,
So no good deals there.
Or maybe i’m just missing the point...
No I think that's probably it. Someone else sent me a link and I dug a bit deeper and that's what it looks like it is. Thanks for the help simplymike!
You’re welcome. I’ve been following up because I want to convert the SBD I have so I can power up, but I can’t bring myself to do it when the market price is this low :0)
the internal market is always much lower, i checked that out the other day when someone said it went up to $5. it's only momentary and even when going to blocktrades to do an exchange that was lower than the "market" here on steemit. head hangs low
i've been waiting to power up for at least 4-6 weeks now myself. ho hum
I see. Thanks for the info! In this particular case people are saying it's a glitch and that one exchange has an issue and for some reason coinmarketcap is showing their value instead of the overall average like they are suppose to. So.. I dunno what's really going on but that sounds like it makes a good amount of sense and a number of people are saying that. Hope you and my father get to power up before too long!
@apolymask i've seen it happen over many days and weeks. i try to catch it and i run over to the market or the other one and its no bueno. oh well. i knowwwwww ... its so disheartening! :(