The staked HIVE is powered down at the maximum rate by the bot and then used for trading and returned to DHF.
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The staked HIVE is powered down at the maximum rate by the bot and then used for trading and returned to DHF.
I don't understand how it's built so much of a stake is all. even if I never powered down, I'd only have half that. Kinda jealous 😄
The stake comes from rewards on the daily hbd.funder comments. Half arrives as HP.
The 3.5 day delay strikes me as problematic for HBD peg maintenance. The fund should hold liquid HBD for that purpose, so it can react in a timely manner. Holding the HBD in an interest bearing account strikes me as revealing the true interests of the management of the fund, that getting some interest on the holdings is more important than taking action to maintain the peg which is what the fund is for, has to wait >3 days to unstake the HBD to react. It shows there's less concern over the peg than there is to rake in interest, and further centralize stake by keeping it away from creators.
The HBD funder comments are just a scam. There is no need for them, except to ease the maximization of curation rewards of the upvoters. It's insulting TBH, and really shows the level of concern for the strength of the platform of the voters on those comments to be negligible. The reason for curation rewards is stated in the original white paper to be to incentivize curation of quality content, and the HBDfunder comments enable maximizing curation rewards with no effort and no curation. Worst of all no creators are rewarded for their content, which directly reduces marketing that content does, devalues creation, and the very purpose of the platform.
HF28 made it even easier maximize curation rewards without curating a single post by reducing the number of votes to deplete VP to zero. Frankly, I am deeply dismayed by the raw avarice and lack of good faith revealed by the HBDfunder scam. Was it your idea?
There is no HDB in an interest bearing account having to do with the stabilizer. The stabilizer receives it, converts it if appropriate, uses it for trading if appropriate, and then sends it back when the price does not provide any opportunity to exchange or trade. Nothing is held.
Opinions obviously differ on the merits of voting for hbd.funder comments vs other posts. I'm not going to try to convince you. I don't think it was was my idea, but I don't entirely remember.
Well, it has been stated that there is. Enginewitty discussed it in the OP.
By 'trading if appropriate' are you referring here to maintaining the peg?
So the HBDfunder comments don't provide funds that are staked and currently exceed 380k Hive?
I agree opinions differ regarding the merits of excluding authors from the rewards pool and concentrating stake in the accounts of whales. We can observe from current practices that whales prefer to centralize stake in their wallets, and fuck everybody else, the platform, and the world can go to hell.
I don't think it will matter soon, since there won't be any people here at all, but only AI socks you guys will play against each other in a game to see who can extract the most tokens while maintaining the pretense Hive is still an actual social media platform. Good luck with that. I hope you win all the Hive tokens in the world and clutch them to your chest in adoring fervor, all alone in your bunker deep underground in complete solitude. What an amazing victory that will be for you!
People are vastly more valuable than tokens. Social media - people talking to one another - has become the largest sector in global financial markets in ~10 years. Not cryptocurrency. Not mining, manufacturing, or space. People talking. Hive had a chance to be the next step in advancing social media tech, but you guys are turning it into a token mine to play against a couple dozen others instead.
GG no re.
Yes, if the market HBD price is below $1, it will attempt to buy HBD or convert and if the price is above $1 it will attempt to sell HBD. If this can't be done, the tokens being held (whether HIVE or HBD) are returned.
As for interest, you seem to be confusing staked HIVE with HBD bearing interest (which would be a savings account). The stabilizer neither ever stakes HIVE nor ever places HBD into a savings account. Any staked HIVE which is received is powered down at the maximum possible rate, used for trading (peg maintenance) and returned.
Voted for visibility.
A bit more explanation and/or a post perhaps will be helpful @smooth
The old posts by me explain it.