So if I do some mental math, to counteract the sell pressure of HIVE to obtain HBD, I say drop the rate of HBD to 7.5%
There is no such pressure though. No one is buying HBD for savings at the moment. And obviously such talk is pushing people away from savings more and more. HBD savings went down by a whopping 1M HBD in the past 6 months. People are exiting HBD savings. And you are proposing that we should pour gasoline on this process.
On the more point, HBD is locked up Hive. Hive removed from circulation. Giving away 20% APR when Hive was at $1 was the problem. We lost a tool that we could have used today to relieve the sell pressure. When we should kept it in our bank and increased the HBD APR now to get Hive to HBD.
Mechanism is simple, when price is low have high APR on HBD. So more Hive gets converted to 1 unit of HBD. When price is high reduce the APR, so that 1 unit of HBD gets converted to less Hive than originally put in.
HBD savings have not been the problem. Problem have been non-sensical DHF funding, and bad curation. Giving millions of Hive to people that does not want to be stakeholders.
I agree with you!
This will also drive up inflation, and there are no buyers. And Hive will plummet. I don't like this proposal. (Tell me I'm wrong.)
I don't think it would have a meaningful change on inflation.
But I also think it would not cause people to hold their Hive either. People that want to hold Hive are already holding, people that don't want to hold Hive would sell it even if we gave 15% APR.
I am still converting Hive into HBD for the 15% though.
Not a whole lot, but I do it xD
I mean I guess, no one is a bit of a hyperbole xD
But the trend is clear.
I personally stopped putting more into HBD, even though I can put more. Due to all these talks about HBD APR. If it goes below 10%, I'll just take it out and put it into something like VUG, QQQ or VOO. At this price that is 288K Hive ending up as sell pressure just from me.
Damn xD
So let's say you have 5 coins. One returns nothing ((ie - LTC/DOGE), one returns maybe 1% in some places like USDC, another gives you around 4-5, we'll call it SOL, another gives you about 8, call that TEZOS or SEI, and finally, you would have HIVE, which could be at 15%. A chain you know well and has massive capabilities beyond any of those others. Long-term, which one are you holding? Are you plugged into the communities of the other cryptocurrencies, or is it simply to make money for you? Is there a place like peakD you can voice yourself? I am a gambler, and a good one. I'd put my money on HIVE and you already do too. Seems you could just convert the HBD to HIVE and retain the value, but get better compounding returns in the long-run because you can't curate with HBD. #justsayin
If I had put that money in Hive, it would worth diddly-squat right now. I am glad that I did not.
Hive being at 15% means nothing, when it goes down 15% in a year. (If you curate you already get close to 10%.) And I am not taking advice on holding HIVE on someone who has sold the stake that was rewarded to them.
Put your money where your mouth is and then you can talk to me like that. #justsayin
I'm a trader, just like you. Sell high, buy low, right? Here, some candy. Ported in DOGE to buy HIVE.
Also, I'm trying to look out for Hive as a whole, this isn't a personal issue.
It isn't a personal issue to me either. I can take my money else where. The money I've powered up is the money I don't bat an eye at losing.
And you don't have an answer to this. You can't get people to power-up at 10% already. Why would they power up at 15%? We couldn't even get people to park their money on HBD at 20% APR.
The HBD is harder to come by and honestly, I swap(ped) most of mine for HIVE. π The main point of this whole thing is to give people more reason to hold their HIVE and (fingers crossed) attract new blood. HBD isn't a top crypto and never will be because of its internalization but, at one time, HIVE was. I think it can be again.
I don't think I ever said savings was a problem, what I am suggesting, is that we focus more on HIVE. HBD is nothing more than a HIVE IOU. HIVE Backed Debt would be a better term than 'dollar' !LOLZ
" HBD savings have not been the problem. Problem have been non-sensical DHF funding, and bad curation. Giving millions of Hive to people that does not want to be stakeholders. "
stakeholders... hmmmmm..... Yes DHF is bad .... but ... but what I can say is that we have had so many failed projects here in the HIVE world in the last 5 years that it is absurd to see how money is still spent on them without any progress. The issuance of coins to projects needs to be taken seriously and put under stricter rules, until now it is too easy to get coins from our pool, just show some idea, get your robotic upvote and 8 months later you say that the project didn't work and you can walk away. ( also like was this CAR problem ) π ... Failed projects have to pay 70% Max to 80% of the coins back to the HIVE world. π
Even my logical head demands this approach top stop scheming and lying, it disciplines the use of coins and the project takes 100 times more seriously to be successful, But not so that anyone would get on the tram bus... I got the coins and walked out at the next stop like a real man. But our long-term players are going straight to the slaughterhouse to give their last blood.
And how are you going to enforce that, pray tell me?
you don't force it, you make a contract, it's mandatory, like when you go to the bank to get a loan. But with different conditions.
Yes some don't agree with it at all, but it also shows that they are not fighting for change but fighting to get more coins for themselves without any demands from HIVE world , but they are not helping the system to be strong long run, I call them heroin addicts in this DHF ππ π,
To fix it you have to do it by force. Some even become violent, but treatment helps if it is done quickly and fairly.πββοΈπβ
Hive is not a legal entity, it can't enter into contracts. So once again I ask, how are you going enforce it?
If you are not legal entity, then Who are they who give them the right to skim our users coins out from the pool with this DHF system? This system must be shut down immediately, not hidden behind words like no one has any responsibility.
In this case, each project should make its own system and look for its own users and infestors from outside, but not ask for support from the community if the community cannot make the conditions.