I think this is probably a good idea but I was enjoying higher HBD prices. If this is one idea for stabilizing HBD, what is the method by which we get Hive over $1 ? If users are constantly selling HBD for HIVE it keeps the exchange low. What does HBD look like when it is the lesser value ($1) versus a $10 Hive for example? I saw that other proposal to burn HBD, does this account for those measure already being taken? Thank you for your time, I will support this proposal but I would like to understand the dynamic between HIVE:HBD. Is $1 HBD $100 HIVE an unreasonable hope? Or $1 HBD:$10 HIVE ? @blocktrades
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There's no strong economic relationship that links the price of HBD and Hive right now.
There's actually a reasonable argument that if we can stabilize the peg for HBD, that Hive will gain in value, as the Hive network will have a new useful service: a trustless stablecoin.
Thank you for your response. May I read this proposal on my next @hivecoffee live stream, and discuss this response with the community? I am also going to talk about a hive.stats proposal, so I would be happy to discuss this one also.
Sure, feel free.
Hive already has mechanisms for returning HBD to $1 from below that price, and historically they have been more effective than the mechanism of bringing the price down to $1 from above.