Whales holding a lot of HBD have to convert to Hive by necessity due to the complete and utter lack of liquidity in the market.
You should never convert your assets unless you explicitly know what you are doing.
Take the current state of the orderbook for example.
If I need to buy or sell a small amount (like 1000 Hive) then there is plenty of liquidity to get what I want immediately with an internal market order. If I want to buy 100k Hive the only reasonable way to do that is conversions given this amount of liquidity. Essentially we need more liquidity, but it still works alright as is especially for more casual users.
That's fine then. So since joining Hive whenever I have enough HBD from post payouts to buy Hive I have been using the internal market and it looks like from your response for those small amounts of HBD the internal market is the best way of getting Hive, which I then power up anyway. Right?
Should be fine.
You can also choose to get paid in 100% Hive to avoid this entire process.
Ah ha! Now there's an idea, and I believe it would save me a little bit of money because each trade on the internal market takes a tiny commission doesn't it?
there is no commission but the value of HBD is often a little bit less than $1 so you're slightly overpaying for Hive. it's not that big of a deal but it can add up especially is a FOMO bull market
Yes I have noticed that. Thanks for all this information, I appreciate the responses.
The opposite is true in a bull run so if Hive is going up and HBD is worth more than $1 you'll want to switch it back to 50/50
🤑
Awesome, will do.