Stable coins are created with real money. So USDT has the equivalent amount of dollars, euros, etc in a huge slush fund, thus the price stays stable to within a 1% fluctuation.
HBD has a bunch of people running round selling it to buy Hive thinking that that will magically make it worth $1. According to @pfunk below, after HF25 this will change, so I guess I'll have to wait and see. But as someone who has recently decided that creating content for Hive is just about worth my time, this sucks and makes me want to leave again.
I know people say 'the market is always right', but I think the market is generally selfish and doesn't care if its action destroy things or even about the technical merits of coins.
Of course it is selfish and of course it doesn't care about technical merits of coins. I have been saying this from day one till I'm blue in the face. You can go on about fast block times and use loads of fancy coding terms that nobody understands, but at the end of the day the market is made up of people whom want to make money!
That is why Ethereum, despite its mega-high gas fees and slow block times, is light years ahead of EOS which apparently is a technically better product.
Part of the impact of high HBD is that some proposals are not getting votes. I don't know why they can't just set the daily payouts as a dollar amount and pay the equivalent of that rather than a fixed HBD value.
I'm not too sure on that, can you elaborate on what you mean please?
PS, thanks @steevc for putting in your tuppence! 😁
Cg
Thanks for the info. Blocktrades gave his reasons for unvoting proposals a couple of weeks back.
I meant that proposals could be for $50/day rather than a fixed HBD value.