Can we please delay the HIVE-> HBD conversion to stack the profit in the DHF instead of everyone with a deep pocket of Hive?
40% on 1mill Hive is a lot more than 40% profit on 10k Hive... unfair.
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Can we please delay the HIVE-> HBD conversion to stack the profit in the DHF instead of everyone with a deep pocket of Hive?
40% on 1mill Hive is a lot more than 40% profit on 10k Hive... unfair.
The downward pressure from the stabilizer proposals is increasing at a fairly rapid rate as the DHF budget increases. By the time we're ready for the hardfork, it wouldn't surprise me if the price of HBD hasn't been driven down to near $1. As of this moment, I'd guess the stabilizer is providing close to 5% of the daily trading volume for HBD. And it could be twice that by the earliest potential hardfork date.
But I certainly wouldn't be opposed to a couple of weeks delay in the HF, if HBD price is much more than $1 at the point. You're not the first person to suggest delaying until the stabilizer has substantially stabilized the price of HBD and a number of people (including me) feel such a delay would be worth the benefit, if HBD price is still high at the projected hardfork time.
Ultimately, the decision will be up to witnesses (and indirectly, the stakeholders who vote for them) as to when they want to update to the new version and trigger the hardfork.
I would be in favor of waiting until HBD gets below 1.05 to trigger the conversions, to avoid a mad rush of conversions (which seems bad for various reasons). However, there is a clear tradeoff with complicating the release and forking process. If the price is pretty close, even if if a bit above 1.05, it probably makes sense to just let it go. If HBD runs back up to $2 or something, then I'd be in favor of letting the stabilizer continue to grind it down for as long as it takes, and continue to contribute the trading profit to DHF.
Is it possible for witnesses to temporarily increase the rate of conversion of Hive to HBD in the DHF? So we can get a higher daily budget for the stabilizer. Otherwise we may have to wait for months if the bull cycle continues for a while and HBD keeps getting pumped.
Hive sent to the DHF is instantly converted, so when the stabilizer sends Hive to the DHF, this becomes HBD immediately. Unfortunately, due to specification change to the proposal system, only 1% of this HBD is immediately available to fund proposals.
Also, the initial Hive supplied to the DHF was hardcoded to be slowly converted to HBD, and the witnesses don't have control over this rate.
Despite all that, the amount of HBD available to fund the stabilizer proposals is increasing at a reasonably fast rate.