If the price of HIVE drops into $0.20s we are likely to see the HBD holders convert and dump HIVE.
Why not convert and power up HIVE? I respect your viewpoint, but I think a lot of the long-termers and true builders are filling their bags with HIVE at Black Friday prices to HODL.
The recent HF26 introduced a RC cost adjustment to transaction execution, You can listen to Blocktrades explain this in The Crypto Maniacs podcast el 168 w/ Blocktrades. As a result of the price adjustment to HIVE's "gas", so to speak, the need to hold Hive Power has increased since resource credits depends on the amount of HP. Accounts that have a large amount of RC now will have the power to execute transactions forever, or... delegate RC for a profit.
have some dapps failed on HIVE? sure.
But dapps that are failing are just iterations towards success. It's just a matter of time until the next Splinterlands is developed. And what happens when one more project like Splinterlands starts competing for block space?
Check out what @khaleelkazi has to say on Chain Chatter #3 at the 1:16:10 mark:
I'm not saying you're wrong. I just have a brighter outlook for HIVE and thought I'd push back on your stance.
Remember: we're in a bear market and even Bitcoin has seen -80%.
My outlook is based on watching a large number of companies implode because they held debt at high interest rates. I believe that HIVE is a good thing. The debt at 20% interest is a bad thing.
The high interest rate does not improve HIVE, but it drives smart investors away.
This last year has proven that the high interest is not improving the HIVE eco-system. There has been a steady decline in monthly active users and a decline in the price of HIVE after this decision.
I know for a fact that smart investors look at the amount of debt and interest on the debt before buying an equity.
If the absurd interest rate is not improving the ecosystem, then we should can it. We have to pay $720,000 a year to maintain the high interest rate.
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