For hbd as debt, wouldn't every stakeholder be on the hook when inflation dilutes their holdings?
Well... first of all you don't seem to be factoring in that HBD printed from the reward pool and issued to blog posters was supposed to be Hive in the first place (and that option is available in the form of 100% HP rewards). If it never gets converted back into Hive that's free money for Hive, and if it does get converted back into Hive that's exactly as much inflation as we agreed to in the first place.
One must also factor in that Hive can be aggressively burned to create more HBD in a pinch ($1.05 HBD price and beyond). On top of all this, we must also factor in that USD is losing value every year, which brings me to my final point.
Irrespective of what the price does
Nope: veto
You don't get to say that because USD going down in value from inflation inherently increases the value of Hive which is the underlying collateral for all the debt. When the value of USD goes down: Hive will go up against it and we owe back less debt. I'll be talking about this a lot after the fed gets forced back into infinite QE and a bunch of easy money floods back into the economy. The value of our collateral is one of the biggest determining factors across the entire discussion.
Yes, the price at issuance is what determines the math from there.
Yes.
More of that, please.
Sorry, can't be vetoed.
One hive equals one hive until more hive comes into existence.
1 hive is 1/~450 millionth, and declining, of all hive existing.
Printing more hive makes 1 hive less of the whole.
When I got here, 1mv was ~250hive, now it is ~550hive.
Excellent for the holders, less so for the buyers.
Some of that is inflation from hbd being burned.
All of it dilutes my 1 hive.
As for the dollar, when the frn collapses we should go back to constitutional requirements, 371.25 grains of pure silver or ~17 frn's, what happens to the price of hive at that point is anybody's guess.
Until the dumpening plays out, hbd should assume the new value, imo.
Presuming exchanges are still operating.
Really? Interesting.
Have you tried looking at your own wallet?
It generates HBD.
When a central bank prints money out of thin air are they thinking "hm maybe I shouldn't do that because it will dilute the value of my other assets"? No they print the money because fucking obviously. And yet here you are printing HBD and having the audacity of making that exact argument. Have you even considered the possibility that it's actually you that's devaluing the stake of others on aggregate? Nope.
You are operating under the provably false assumption that printing money has zero value and a 100% dilution rate. You've decided that printing a million dollars creates one million dollars of dilution, and you are wrong. Inflation is an investment, and only in the absolute worst case scenario is that investment going to have a long term value of $0.
This is an easy fact to prove. If Hive had zero inflation (or even worse: deflation) the value of the network would be zero. The money we are printing is the only thing giving this place any value whatsoever. Nothing is being diluted; this so called dilutions is the foundation of everything being built. What you say is not how it works for like half a dozen different reasons. It's a grossly reductive take that oversimplifies a complex issue. So again: veto.
I am in the top 20 most highly paid bloggers on this platform. It's mathematically impossible that HBD printing from the reward pool could dilute my position. It's also mathematically impossible for me to be diluting others because I've brought more value to this network than I've extracted. Your theory doesn't account for any of these variables and chalks everything up to "money printer go brrrr". It's truly difficult to express just how incorrect that is across the board from a fundamental standpoint .