but without HBD or SBD
HBD and SBD have always been there, so neither Hive nor Steem have ever worked this way
since you earn returns on powered up coin, you usually are able to offset the inflation
You are pointing out another way that you don't know your future share of the percentage of the governance. Even if you "usually" can offset inflation, you can't be sure that will always be the case. Apart from the possibilty that the earning mechanism might change (as it has multiple times), earnings might become more competitive in some way and you find that you are no longer able to keep up, or don't want to continue to invest the effort to do so.
The only way you could know your share would be with a fixed supply of governance tokens and Steem and Hive have never been anything like that.
I agree with everything you said. I never said that we could have a fixed percentage of governance.
I just said I would like it to be so. HBD does not help that case.
I know, but it's not as significant as the change in supply caused by HBD. Not going to argue over a few percentage change over years, but when we burn 3% of the Hive supply in two weeks, this is not insignificant. That burned tokens could be back and then more at any time too.
To be completely clear, right now, HBD is great for hive given what speculators are doing, the Hardfork changes, and the hbdstabilizer proposal.
It's the next 1-2 years that worry me as we don't know how far down hive can go. The very long term also worries me, if governance somehow becomes irresponsible with its use of HBD, but with the current group of people, I am not worried about that at all.
I can't say I disagree with you about long term governance, but I don't agree that HBD is a major issue. Poor governance can, and likely would, run the system into the ground with or without HBD.
Good point. HBD is just a tool to do that.
In theory if the converting is high, the demand for hive is high.
So the price should become higher. I think ( no math behind) with faster scaling in users, it would become stable by nature. The only thing we need to remove are the 5% for converting. 0,05% would be enough.
Payment mobile app (keychain) with QR code scanner and so on would build a stable usecase, as long HBD can scale.
I would be in favor to make the stablecoin to a "on demand one".
With our beautiful no transaction fee chain, it could be really revolutionary. ( RC delegators could earn a fee for Rcs for example).
On-demand means, I need HBD, I can generate HBD as much I need (up to millions). To make it secure a DAI lock up mechanic could make sense.
Yes this makes a lot of sense, I would prefer this to the current model
it could also turn out hive will become at some point Gas/gov token :)
This could make HBD more stable, useless or unstable (theory should be stable with collaterals and no convert) :D
What would be your longterm dream for HBD ( in terms of usecase?)?
I think it is probable that HIVE is a gas (sort of, if RC persists) and governance token. In fact, that's 99% of what it is now.
The main use case for HBD is most everything else people want to do on the chain in terms of base level transactions and fees as well as being a sink for capital people want to stash for yield. Currently account creation fees are denominated in HIVE, for example, but that's kind of dumb since that jumps all over the place for no good reason. When SMTs were a thing, the fee to create was originally going to be SBD for similar reasons. The promoted page worked that way, way back in the early days. We're using it for DHF, where longer-term project funding works well with the stability and contractors using and holding the token themselves is fine since most expenses are fiat-denominated or regardless of denomination are usually tied to purchasing power in some manner.
I remember that discussion. IMO we should go 1 step ahead. Combination of Social media and payments in a stablecoin.
No hive needed for it ( could be a transaction fee that's super little for RC delegators).
Super easy to use and for anons. IMO it would generate demand by nature. The only thing it needs must be cheap to generate as much we need of HBD.
If HBD should be only for transactions ( like SMTs), I would prefer a time token.
Hive into HBD ( Token is for the transaction/ some time) for transactions and back into hive.
the mechanic would be only to value it in USD. For simple onchain payments it would be enough.
Everything else should be in the manner " think big" Imo :)
What is a time token? I'm not familiar with the term.
Term = random Urun name :P
What I mean by this is:
For Onchain transactions ( like token creation paid in USD), the value of Hive matters.
So it could be an internal thing Hive ---> USD value -----> HBD ----> pay in HBD and after back to Hive ( or burn). Sure last 2 steps make no sense. Only if we would allow a timeframe the USD coin exists (like 24h-7 days).