We need a lot more HBD. If you look at the present float of HBD, even at 20% per year, it will take about 20 years to get to 1 billion HBD.
If you think that makes HBD a legitimate stablecoin, I would disagree. That is still a small fraction of what it takes to a legitimate force in this world.
So this is the first major use case for HBD, creating more HBD, which is badly needed.
We also have other use cases being formed. This means we are going to have to get even more out there. So the belief that this is just a fly by night, get some fast money in, that is not how I see it.
It is laying the long term foundation for HBD as a legitimate stablecoin.
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As long as it remains an organic process and people (including witnesses) continue to regard it as a long term proposition, I'm a little less worried about it.
So HBD is really likely to be more of a hybrid than an actual stablecoin.
One of the great challenges in the Cryptosphere — and I have brought this up many times — is that we need more use cases that involve USING a token to make money via projects (i.e. the PROJECTS make money, not the TOKENS... like Splinterlands, where a substantial part of the picture is the game having "stuff" you need to buy, using a token), rather than just holding the token as the way to make money... regardless of whether we're talking about Hive, HBD, or anything else.
As long as Hive stays clear of going down the "flimsy" road of some of the stuff I see... that amounts to little more than vaporware backed by unicorn sparkles, promising a 60% APY... paid in rainbow poop!
Without a doubt, I agree 100%. There needs to be a lot more business building as opposed just monkeying around with tokenomics.
Certainly HBD requires a lot of long-term work. This is where the idea of centering it as collateral (loans), derivatives, and funding/investing.
Utility is overlooked in crypto. The key to HBD's success is making $HIVE a success.
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