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RE: Why You Should Not Trade on Exchanges - Buy/Sell Tips by Charlie Shrem
They are giving for 1 SBD 0.00133594BTC... in Bittrex u can get 0.00147000 BTC... I understand ur point but it is a bit below the market. Not a good incentiv to use it. Anyway u got my up-vote, did not knew about Blocktrade
Mostly all the instant exchanges provide operations via Poloniex or Bittrex. And take a reasonable fee for this. But it seems that blocktrades have their own order book and matching. Their trading bot holds a big spread, that's why they have such prices. But they are build in steemit and many users use them as default option to buy steem/sbd.
Don't forget slippage...
That's only really an issue for big buyers/sellers. In general smaller traders will get better prices on the exchange than OTC.
Yes, this article was written towards larger orders, usually on greater than $1,000 buys or sells.
Ok, but then you should make it clear in ur post because ur followers, Im pretty sure, are mostly small fishes ;)
But even slippage can be mitigated by layering in sell orders. Of course, even a limit order is going to avoid slippage. It's just going to put a lock on the price until it gets filled.
I get the concern, but it doesn't seem wise to pay for the premium service even if you're dumping large quantities, unless you just don't care about paying the convenience fee. IMO, it's steep enough to make selling in layers or small tranches on an exchange the wiser course.
OTOH, even if you face a little slippage on an exchange, is it enough to make up for the Blocktrade fees?
I guess the question is, "How much am I willing to give up to try to help protect the price of Steem?"
"How much am I willing to give up to try to help protect the price of Steem?" is a good question :)
... but this is more at the end a post for whales ;) ...I do not think fishes and dolphins have enough power to put in danger the price and for sure many need the extra bit-cents that you loose exchanging your SBD in Blocktrade right now.
Of course. I was offering the comments as I would see it through a whale's eyes. IMO, it's simply unwise to set aside potential gains. There is a point where it may be wise though, depending on how much they're dumping and what the market is doing at the moment. If I were a whale, I'd have to ask myself that question every time I sold. And I'd be very reluctant to sell through a service that was tapping me for more than 1%.
hmmmm... could be, but not when u look the market, in Bittrex for example and there are selling walls of 638.13105397 SBD at 0.00147000 BTC, then 992.94004987 SBD at 0.00146000 BTC and also 1000.00000000 SBD at 0.00145001 BTC. That is what I means for a bit under the value of the market ;)