Last night when the crypto market crashed seeing our precious HIVE drop down to $0.091c The opportunity should have been there to take advantage. I say should as the HIVE internal exchange removed that opportunity and thought this was unfair. We have to be able to take advantage of these clear and obvious opportunities as HIVE is hard enough to make at the best of times.
I had a few HBD to swap on the internal market which briefly showed a HIVE valued at $0.10 ,but as soon as I had placed the order the internal wallet was reset to HIVE having a value at $0.15 c. I am not sure why this happened and I do not think this should be allowed to happen. Why would this reset and is this a protection mechanism I have never seen or heard of before? It looked more like manipulation, but was too quick to be human. Did anyone else notice this and think this was odd? The price changed to 50% above the correct HIVE price on external exchanges. Cheating comes to mind immediately and who has the ability to reset the exchange?
This for me is another red flag and I am concerned using the HIVE internal wallet when converting to HBD when we see the peak of this cycle. If the internal market is being manipulated then who says this will not happen when the price is great for converting HIVE to HBD.
The plan was to keep the HIVE internally away from the external exchanges using our own in house exchange swapping/converting to HBD to protect the dollar value of the HIVE you have swapped. This is disappointing to have to think of finding another stable coin due to what is happening internally and I see this as cheating.
This makes no sense why HIVE was at $0.15c with HIVE at below $0.10c on external exchanges. The rest was that obvious with $0.15c shown for buy orders and sell orders after they had dropped below $0.10c for less than a couple of minutes.
Is there anywhere else we can swap HIVE for HBD or HBD for HIVE internally that I do not know about? I know about the internal 3 day mechanism which is risky, but at least you have a chance of getting fair market value and not paying 50% more like last night. I noticed the internal wallet is now at $0.142c per HIVE, but that opportunity has gone already.
Does anyone know if there is a HIVE price protection mechanism built into the internal HIVE exchange? This just does not make sense considering we are decentralised and this type of manipulation of price is robbing the community of opportunities. Like I have said before this is the second instance this year that I have noticed oddities happening with this internal wallet blocking users from benefitting and this makes it an unusable tool at times when you need it most? Who is running this tool knows what I am talking about because I am kind of inclined to believe we need a new internal HIVE wallet we can trust.
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This is the part of Hive I have to learn more about... It is concerning if everywhere else Hive is 50% cheaper than our internal exchange. I would have thought that consensus witnesses would be reporting the correct price feed based on multiple external exchange data... My witness is reporting Hive Price data based on the average of the three external exchanges...
I would think that the price would be the average of these prices and as you can see sometimes they are delayed...
What made no sense was there was buy and sell orders under 10c which was correct at the time and then it went blanc and was replaced with 15c when the price was still under 10c. The buy orders and sell orders were just replaced instantly starting at 15c. Not sure who controls this https://wallet.hive.blog/market.
It was a strange day, Hive engine was all wonkey, I stopped trying to use it. You would think the internal market would be more price fair though.
These are great points and I wonder if such discrepancies can be arbitrage opportunities. I guess in the end things will balance, but indeed there are differences between Internal and External markets...
I try to use Hivehub when it is up, but I don't know if it is any different from the internal market.