The effort is to bring HBD off of the exchanges and avoid paying the exchanges themselves and enriching them but giving it to the users so you need an action like staking.
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The effort is to bring HBD off of the exchanges and avoid paying the exchanges themselves and enriching them but giving it to the users so you need an action like staking.
What keeps exchanges from moving part of their HBD holdings into savings accounts as well? They already work with different walltes for HIVE.
The thing @blocktrades said in the post.
I feel
is a big assumption. Especially when we use it as a tool to control the HBD peg. It might fluctuate widely. Do you think exchanges even want to try to explain this added complexity to their users? Do these users care?
To me it sounds like a thing for users to do... to make statements and educate people. If anything I'm almost hoping one exchange does it so tons and tons of tweets and blogs get written to make people around the internet aware of what hive is doing.
If the promise of high interest on a stable coin doesn't make you withdraw it to your own wallet, what does?
Users are perfectly able to ape into all kinds of farming operations. If they can't be bothered to create their own wallet for extra staking rewards, what does?
We are now trying to make life hard for the few exchanges that even bother to list HBD.
Not having to deal with HBD interest arguably makes things easier on exchanges, not harder. Now they don't have to be concerned about users claiming that the exchange is "keeping" their interest. As someone who's interacted with people who've operated exchanges, I can tell you they are generally happy to avoid such headaches.
I'm not concerned about exchanges. You obviously know much more about that topic. It was only a minor aspect in this discussion.
My main concern is, I fail to see an upside to this change. It increases complexity of Hive without offering a clear upside. I would prefer if we got rid of savings accounts.
If we can't encourage users to create a wallet and withdraw funds into it in order to hold a
what are we trying to achieve here?