I agree with Taskmaster - it's a bad idea to try backing a completely centralized & controlled digital asset, such as $BUSD, with $BTC. Not just because of the fundamental incompatibility, but because $BTC is not a reserve currency, and should not be viewed as such, because it does not maintain a stable store-of-value for the time being (while I am bullish for the longer-term point-of-view).
I like $HBD and trust Hive as an ecosystem to work in the best interests of the users, which give it value.
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BTC is perfectly stable given enough time.
It only takes getting through one bear market for it to be overcollateralized forever.
If you time it right (like now) then you don't have to even get through a bear market.
Perhaps, but, to the average person who looks only at price, there has to be something more tangible for them to understand. The technical rundowns of BTC a lot of the people online speak about goes over the heads of the non-native and non-crypto people, we have to simplify things in such a way to where even a five year-old can understand
I don't know how any of the technology I use works.
My car? My computer? My phone? My Internet? My TV?
I have no idea.
Crypto is no different.
Haha touche, sir! Well, I guess, the better you understand technology, the easier it becomes to troubleshoot when you encounter problems. Car, phone, internet, tv, crypto is no different :D
Quite right.
Obviously during this super early adoption phase if you have no idea what you're doing you'll get wrecked... but eventually garbage will get flushed and solid networks that are "too big to fail" will rise up and it will be more obvious from a newbie perspective.
Haha touche, sir! Well, I guess, the better you understand technology, the easier it becomes to troubleshoot when you encounter problems. Car, phone, internet, tv, crypto is no different :D