I see this is working very well in getting that HBD back to $1 this will NEVER fix the issue you guys have got to figure it out on the back end on how to make it so HBD is roughly always $1 or simply just do away with it or leave it be. There are bigger fish to fry right now then trying to stabilize a coin that everyone knows has never been stable.
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I suggest you stop thinking about it as just stabilizing HBD, but instead channeling excess HBD price into Hive price and reducing inflation. You're holding 57k Hive Power, and @hbdstabilizer is actively working to make that Hive you're holding more scarce and valuable.
well that's disappointing. I should stop caring about it simply because it's stuffing my pockets? Nah sorry not one of those people.
It's beneficial to Hive and HBD. What exactly is the problem?
Keep hearing people say that, but nobody can say exactly what benefits it has.
Tired of the thousand dollar spam posts on trending!
I literally stated the benefits in the prior post. It is currently virtually eliminating Hive inflation. Hive inflation has gone from way above the intended schedule, to very low inflation thanks mainly to hbdstabilizer.
It is also stabilizing the price of HBD, discouraging people from buying it speculatively, and channeling that excess price more quickly into the price of Hive so that HBD supply adjusts at a faster pace to the appropriate amount to keep it near $1.
In theory Steem has the same mechanism, where an higher price of SBD increases the utilitarian value of Steem Power, driving up Steem price to where SBD supply balances out, but in practice it is too slow a mechanism which is why we have seen SBD an order of magnitude higher than the pegged values, and it is currently completely failing to stay close to $1. Using the DAO fund dramatically speeds up this process and ensures that all stakeholders receive the benefits via increased Hive price.
We haven't managed to create a perfect stablecoin yet, but it's so far been better than any other with decentralized collateral (as opposed to centralized collateral such as TetherUSD, USDcoin etc). We can keep making it better instead of throwing our hands in the air and giving up the huge amount of financial value that HBD brings to Hive ecosystem.
Are you aware that you can block and ignore posts from accounts you don't like?
It doesn't seem that way at present, and I wouldn't be surprised to see this uptrend continue.
Do you think the speculators are aware of hbdstabilizer?
And, is it the case that the higher HBD goes, the more HIVE is bought, and in the long run this project will have a positive influence on HIVE price?
The impact of @hbdstabilizer is not within a vacuum. We can only compare to 1) previous Steem bull runs and 2) the current Steem bull run, which is a near like for like project technically if not socially.
HBD is tracking much closer to $1 than during 2017 crypto bull market and compared to current Steem bull run. It's also a simple function of basic economic principles that it should work this way.
I think the speculators are mostly clueless, and @hbdstabilizer exploits their inefficient pricing to the benefit of Hive stakeholders and speculators. All we can do for those HBD speculators is to inform as many people as we can about HBD and how it works, so that they can make more informed decisions. I actually think the stabilizer being on the front page every day helps raise awareness to the benefit of preventing HBD speculators from making bad decisions.
Yes.
While HBD is still not a true stablecoin, it is doing far better than SBD historically during bull markets.
This might not work, but how about this as an idea and I don't know if it helps stabilize HBD.
Use the savings wallet as a staking point like a defi pool, but it attracts Hive as an automatic percentage of curation as if it is active (for example 50%). This would give it a return of ~10% A year in Hive, less than curation, but far better than a bank. Can this pool of Hive be then used to further stabilize HBD?
I think this would may also create some market scarcity and push the price of Hive up, as it gives a bit more passive use case to holding Hive on chain, rather than on exchange.
NB: I have no idea how to stabilize a token :D
I definitely agree with providing more rewards for locking up capital (including HBD) in Hive. There was already intended to be a 10% interest for merely holding HBD, perhaps a relatively simple change would be to have two interest rates, a lower one for unlocked HBD and a higher one for locked HBD.
Block and ignore posts?
On my screen it's called "mute", and only works on members, not posts.
It depends on what client application you are using. Muting hbd.funder should suffice if you don't want to see it on trending page.
Posted via D.Buzz
I agree, it's short term thinking, and it's the wrong sort of demand for a token.
Such as what?
Posted using Dapplr
There is already a solution implemented in HF25. Conversion of HIVE to HBD.
Honest questions
Why don't we wait for HF25? Why are we doing this instead?
Why is it simply thrown into the Hive.Fund? Why not burn it.
Surely with nearly 900 Hive being added into the fund every hour and currently sitting on 76.6 Million Hive it's not really needed and could be better used elsewhere in another function.
Correct me if I'm wrong but 900 hive each hour over 24 hours is $16,000 not $3,600
Thank you kindly for taking the time to address those questions I appreciate it
It will take some time to achieve the goal. In the meantime, it is adding buying pressure to HIVE.
Does your price-feed include the internal market? If so, would it measure up on a volume weighted basis?
The info on how the hbdstabilizer account works is described in the posts listed in the article.
I am well aware how it is supposed to work.
It turned from a stabilization effort into a trading bot that sometimes crowds out funded proposals.