If we have to pay to keep HBD stable maybe we should do away with it. Seems like it's a drain on Hive.
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If we have to pay to keep HBD stable maybe we should do away with it. Seems like it's a drain on Hive.
I am honestly surprised it has held up like it has. I am bullish on HIVE just because of the way this thing is addressed by the many different communities on HIVE. We are all very different people on HIVE, so when "a lot" of us find commonality, I think that is interesting and worth paying attention to.
HBD is slowly becoming one of the biggest and most important things on HIVE; holding HBD to peg is top of most people's minds.
I have been buying HIVE and upvoting comments that go to the HBD stabilizer because that is the only way I can "help." I doubt what I am "doing" has any serious impact.
HBD conceptually is cool, but there have been an insane amount of investment on ETH stable coins that are backed by assets not an algorithm.
Algorithm based stables have a bad history in Crypto and fiat; and it typically does not end well. I am not saying anything bad will happen to HBD but I would be lying if I said I was not concerned.
HBD holding up like it has, is nothing short of amazing..... But that just makes me think maybe it is asset backed after all.
If we had no HIVE inflation to pay for this, where would the money come from?
I have no idea.
That makes sense. I do think we have cost of capital though, I don't know how we could calculate it but it may be possible to calculate it.
I am not saying we should do this, but is there any reason we just have a stabilizer and we don't try to back it with other stable coins? (In my gut I want to say try to back it with bitcoin but it feels risky 🤣)
Somebody would need to hold the coins, increases counterparty risk.
That's a really good reason not to do it!
So what do you recommend this proposal should be supported or not for now.. Ok I see you are supporting it. Cheers
I support this proposal and am upvoting things that support the HBD stabilizer.
I am not the right person to advocate for a change on this front. But I do want to use HIVE more and discord less so I am just speaking my mind here.
I am open to debate this and be proven wrong on chain. I think that makes the most sense so at least we have some record of people's thought process.
You are though, we all are. HBD should be slowly moved out. It’s killing Hive via stabilizer! !LADY !ALIVE !PIZZA
It is a common belief on Discord!
Not enough people talk about it in a big way on HIVE so there really is no good consensus on where most people sit on this front. Discord talk and not HIVE talk creates a fog when trying to understand people's perspective on governance. In my opinion!
Cheers to you too!
The artificial pegs will break in time, but while it exists it will continue putting massive sell pressure on Hive. HBD has its on chain purposes, but there is a big crowd fighting for HBD to be the next big stable coin in mainstream commerce, this is a dream and never happening in real life. One dev keeps shouting HBD will be the biggest stable coin ever in a few years, this is nonsensical. Hive price continues to get crushed and held down by the extra pressure to keep HBD stabilizer, it will come to a head. !PIZZA !LADY
This isn't "pay", it's just a source of working capital. The funds are all returned to the DHF, usually with a profit.
We don't have to pay to keep HBD stable. It's just providing funds that are returned to the DHF to increase liquidity and stabilize HBD
It indeed puts downward sell pressure on Hive!
Massive drain on Hive! Daily and regularly!
It’s ridiculous that one major dev is telling people HBD will soon be the main stable coin for Bitcoin network, it’s laughable. HBD has had its place for a portion of rewards but the crowds pretending HBD itself will bring us to mainstream are laughable! !PIZZA !LADY