Interesting!!
Btc as the pristine collateral layer is the current public perception. I’d argue using that maybe temporarily as a spring board to giving hive that status also.
Of course however, btc can never make a bond system. It’s economics just don’t fork that way ;)) hive can do that 1000%.
So yes maybe ultimately hive can achieve the pristine capital layer.
Hive is backed by the utility and network affect of its user base. While i believe in this fully. I see nothing wrong with using btc to partial back the hbd market with what the world (rightfully) currently perceives as the pristine collateral (btc).
If u see how many maxis are coming around to Luna, (since they have just made a large (centralised btc purchase) we can achieve a better effect of hive by doing that somehow, but with a multisig autonomous wallet.
Maybe drop partial btc backing at some point in the future once ppl see what hive is as its own pristine collateral. But we need to achieve this perception for hive, and I’m thinking a partial btc backing will assist this over time and speed up the process that hive is actually the pristine collateral, at which point we can move away from a partial btc backing and go free float
I get ur point tho. I think partial btc backing spring boards us to that point quicker. However if we can help ppl see that hive is infact the pristine layer earlier, I would fully agree with u that we don’t need any btc backing at all