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RE: Some Thoughts On Hive Backed Dollar (HBD)

in LeoFinance3 years ago

Yes philosophically this is where i'd see us on different sides about stablecoins. For example the perfect stable coin in a network outside of government control would exist for me in something like facebook.

So you'd have this large network and thus a currency makes sense everyone is networked. Something like Hive is difficult to have stable coins and stable prices because it's difficult for people to decide if they wanna be here

I think the reason it's difficult is first it's a complex system. Not only is it a complex system but it's an expensive system. It's not a free system like facebook. So my philosophy for a stable coin is diffferent because my philosophy is that the network is the value and the stable coin is just a representation of what that network does or the value it moves.

I don't see hive as that complex economically. I see hive as more of a for profit business. The people who exist in the hive ecoystem treat it like a gigantic for profit business. So that makes it more asset than monetary system adn there are vast differences there. Facebook would work well as a stable coin money because nobody is trying to earn or collect assets on facebook Thus if facebook has a money it only serves to aggregate the transmission of that value system nothing more nothing less.

This is why projects like btcmyk and bbd coin make more sense in this situation. Btcmyk and bbd should'nt be looked at as assets. tHey should be looked at as a ledger for what you already do and to serve the need of social change for the use of the most important assets in our world the people. So in something like ubi. ubi is not for profit it is a ledger on teh chain that proves everyone in the ecosystem is assigned and occupies some value if not just for the value of the physical dimensions people occupy.

The problem with hive is again it's really just a capitalistic for profit asset based business which doesn't satisfy the requirements of what a stable coin would need to be prosperous and worth a network holding to conduct commerce and business. One reason is because under metcalfe's law my belief is you all will never be valuable unless you got the right app or never be the value magnitude wise to where you can stabilize a stable coin and create enough confidence for it to be widely accepted by merchants and vendors. Again to me that requires a free system. In a sense just to go a bit deeper.

Alot of our world began as a free system. You may ask how? Well when i was a baby for me life was free. Someone had to take care of me for like the first 18 years of my life. That's an extremely long time. We come to hive and from day 1 you pretty much need to bring in money to use the system. to have a voice in the system it just doesn't aspire a stable enough network under metcalfe's law. Now that doesn't mean an app like btcmyk on hive can't change that. it does mean the direction you all are moving in i from a professional standpoint from working for wallstreet firms and maybe considering myself a junior economist. I realistically don't see this reaching the levels some of you all see. Of course if i'm wrong about that will be interesting to learn why i'm wrong. However at this stage i don't feel this has the components to stabilize a currency.. yet alone a cryptocurrency which would be even more difficult.

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