These are so catastrophical and so early conclusion it makes entire article unreliable in my eyes. Multiple accusations without support of data don't help too.
I'd love to see some big power-downs, large drop in posting activity or reverse in conversions proportions to support such concerns. But I don't want to see these in general.
As somebody stated already, debt is a double-edged sword and in crypto everything is experimantal, simple transferring historical ideas about economy is not fully valid. Also please, take note that we are all in the wnvironment of constant high inflation, this should be taken into account when considering interest rates everywhere.
It's important to take into account all the petspectives, hence, I appreciate this one, even more in the environment of incentivised optimism. Please, follow the data and share with us, if this is what actually is happening I'm sure people with large stakes (HP, not HBD) will act to fix it. There are a lot of people who care on HIVE, 13 weeks power-down period is designed for such cases.
I hope your leg will heal fast!
FWIW, I carefully watched the effects of the interest increase on HIVE and HIVE-Engine for 14 days before writing my post.
If you look at the price of coins on Hive Engine; you will see that most of the coins tumbled after the increase in interest rates. For example POB dropped to 0.009.
If you look at the history of honey.swap, which is the primary mechanism for moving funds between HIVE and HIVE-Engine; you will see that accounts started pulling large amount of funds from HE after the announcement.
HIVE is the base currency of HIVE-Engine. So the HBD interest is the most likely cause of the drop in the price of the coins on HE.
BTW, the price of HIVE dropped from $1.20 before the announcement and is just $0.85 . This drop might be explained by an overall drop in crypto.
I looked at the prices on HE for a long time before wr9iting my post.
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I read your article and I can see the same effects, but in general I cannot agree on the analysis of cause.
The price of basically every crypto asset droped during last weeks. It proves nothing. Still, the timeframe is to short to pull such big claims. Please, take it as a friendly critics.
And HE tokens? I'm engaged in these and the drop of price is not change of the trend either. And POB specifically might be dropping from lack of leadership not HBD APR growing.
We would see a bunch of different metrics going crazy in such case.