Last August 18, 2022, the Hive Backed Dollar price pumped by $1.70 so I grab this chance to accumulate more Hive by doing HBD conversion process.
Not a financial advice but just want to share how we profit from helping the blockchain stabilize the HBD price.
I do not have a liquid hive in my wallet so I took the chance to loan from my friend sucal with 270 Hive.
If you are interested you can also check my other post to see the result of my past conversion
Afterward, I transfer it all to Hive -> HBD conversion method until all my hive is in collateral, just trying my luck.
After 3 days of waiting, the moment of truth just happened. The 270 Hive that I have loaned is now 294 Hive, 24 Hive profit for 3 days, not bad because after all, it is still a profit.
What is the cause of low profit this time? In my opinion, because the Hive price dropped from $0.62 to $0.57 maybe the reason the result is not very appealing.
Will I still do the same thing again in the future? Absolutely, it is earning Hive for helping the network stabilize the price of HBD pegged to $1.
Have you done this before? Please let me know what is our experience so far by doing this conversion. Did you make any profit or lose some Hive during the process?
