In theory yes, but unfortunatly there is no btc/steem btc/SBD market on steemit market.... so arbitrage can not be done full cirlce with out waiting 7 days. hence the spread.
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In theory yes, but unfortunatly there is no btc/steem btc/SBD market on steemit market.... so arbitrage can not be done full cirlce with out waiting 7 days. hence the spread.
Agreed, that explains the lack of arbitrage action but I still wonder why the discount on SBD is a whopping $0.11. That is rather high for such a stable asset which is designed to hold parity with the USD.