RE: Why We Shouldn't Be Funding HBD Stabiliser - We've Got It The Wrong Way Round

[myfreebtc]

I don't even understand why HBD token exists. Couldn't we operate with only one token making everything simpler and be a little higher on the coinmarketcap list instead of having a second token that was supposed to be $1 but the value is anything but stable?
I don't know why would anyone invest in something with the name hive BACKED DOLLAR...
PS: This is a very uneducated comment

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Comments

[cryptogee]

It's a fair point, why do we have a second currency?

Originally the idea by Dan Larimer, creator of the Steem Blockchain that eventually morphed into Hive, was to create a stable coin backed by Steem, hence the name Steem Backed Dollar.

This soon became apparent that there was no such backing and the value of the SBD (HBD) was arbitrary and for a while it did hold at around $1, but because there is no actual system beyond wishful thinking, to make it stay at that price it can go up or down just like any other crypto.

Like I say, the main function of the HBD should be to reward creators and add liquidity to various Hive markets.

Cg

Cg

[gillianpearce]

Couldn't we operate with only one token making everything simpler

That would be nice. 😊

!ENGAGE 20

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[misterengagement]

Thank you for your engagement on this post, you have recieved ENGAGE tokens.

[cryptogee]

Thanks for speaking up, the discourse on Hive is quite aggressive some of these days and I prefer to stay out of it. Thanks for Leo!

No problem! Hopefully this can spark some energetic and respectful debate.

Cg