The tool to convert HBD to Hive using the blockchain is supposed to let people profit by arbitrating the difference when HBD is above the $1 peg.
Right now we are 30% above the peg. I have some $300 and something dollars on savings to get the 10% a year yield, but if HBD stays above the 30% peg I might just be able to make more than the yield, but there are inherent risks!
The risk is for HBD to go down. If it, for example, gets near, or below, $1, I will take some losses.
I remember I have used the conversion tool before and some times I did profit, but other times I did lose, so I just never did it again because I realized there were risks just like trading. Because it is arbitrating the price, but there is a 3 days delay (plus 3 days for taking the HBD out of savings) there are the price fluctuations and you end up having to actually speculate if the peg will still be broken and well above $1.
Wish me luck, and I will report if it I find it actually profitable.