Our @cayelispor53 sent on Sunday an excellent tutorial how to buy SCR with steem from Steemit, our sister’s platform blockchain. Today we have an addition — from the downside…
I was wondering how much of a fee goes in this process, and I decided to test it myself with 10 STE, for the sake of easier calculation. In the beginning of the process, my SCR balance was 0.014 SCR.
According to cayelispor53’s instructions, the transfer started on Monday, Jan 14th 2019, at 20:14 CET: At the time, 10 STE was worth $2.64. Blocktrades left a clear and fair message:
Note: each deposit will incur a fixed fee to pay the Ether transaction cost (current fee: 0.16 STEEM). You should send at least 5 times this amount (0.8 STEEM) to get a reasonable exchange rate.
In our case, that fee was most generous 1.6%, and for the 9.84 STE (10 - 0.16 STE) Betman got 0.01945126 ETH, which was at the time of the transfer $2.52. The transfer was finished at 20:24 CET and from the Scorum Exchange in the wallet came 23.827 SCR, which is at the current time $1.90…
That’s -28% from the original sum!
How shall we call it, then?
Yes, we shall call it “Stimulus” to participate at the BetScorum and get some of the value back! Or lose everything and then buy more, which would in the end cause rise of SCR value from the current measly $0.785… Or we could look at the things this way — and call it “Investment”: Betman just invested buying 2.38 SCR for one STE, expecting that SCR will soon be worth much more than steem.
Just wait while we got more sports and women sports at BetScorum…