There's a secret buy-back program for HBD (Hive Backed Dollar) going on right now. Actually, it's been going on for over a month. For comparison, here's the Steem prices on certain exchanges right now: | | USD/STEEM | USD/SBD | BTC/STEEM | BTC/SBD | |-------------------|-------------|-------------|-------------|-------------| | bittrex.com | $1.2409 | $8.0109 | 0.00002101 | 0.00013564 | | binance.com | $1.2434 | | 0.00002105 | | | huobi.pro | $1.2422 | | 0.00002099 | | | upbit.com | $1.2203 | $7.9601 | 0.00002089 | 0.00013627 | | coingecko.com | $1.2300 | $8.5500 | 0.00002089 | 0.00014463 | | poloniex.com | $1.2445 | | 0.00002110 | | And here's Hive: | | USD/HIVE | USD/HBD | BTC/HIVE | BTC/HBD | |-------------------|------------|-------------|------------|-------------| | ionomy.com | | $1.9500 | 0.00000978 | 0.00002111 | | bittrex.com | $0.5846 | $1.5060 | 0.00000995 | 0.00002550 | | binance.com | $0.5924 | | 0.00000999 | | | huobi.pro | $0.5923 | | 0.00001000 | | | probit.com | $0.5901 | | 0.00000999 | | | coingecko.com | $0.5889 | $1.5400 | 0.00000997 | 0.00002598 | | upbit.com | $0.5853 | $1.4954 | 0.00001002 | 0.00002560 | So, the interesting thing is how to leverage these prices on the internal exchange. On Steem, even though you get a good price for your SBD, the liquidity isn't really there: ![image.png](https://cdn.steemitimages.com/DQmZ6rtsXSYTLQoTr9wDQAxRunZVFfUXT79ap35gewhMyLS/image.png) On Hive ([wallet.hive.blog/market](https://wallet.hive.blog/market)): ![image.png](https://cdn.steemitimages.com/DQmWAEfHpN1C3YTmUha93jehHV9EuVBt3p8uoXnSVmwtLca/image.png) Likewise, the amount of volume in SBD vs. HBD: ![image.png](https://cdn.steemitimages.com/DQmZzYk79i2744Mkzkdk7sPuQNkYjMhpqKeN1bzrGpVz1Ko/image.png) ![image.png](https://cdn.steemitimages.com/DQmQ7K3KbsRfkS1HR99nxRKHknt8KUFC8wStbw1LPUviAgf/image.png) So what can you do with this? You can buy HBD on an external exchange with high volume, move the HBD to your account and sell it for HIVE on the internal exchange. Move the HIVE back to the external exchange, sell it for HBD (via BTC) or whatever pairs the external exchange has), and repeat. The point is, there's volume for this on external *and* internal exchanges. https://wallet.hive.blog/market *Have fun!*