I’m not a financial man, so I can’t calculate the precise consequences of conversion, but as explained the proposal seems like a sound idea.
I do however have a question about the choice to convert ETH and HIVE:
Regarding ETH, wouldn’t it be prudent for the DAO to keep some ETH as a less volatile reserve?
Regarding HIVE, wouldn’t selling HIVE put pressure on the stability of the chain we’ve built SPL on?
Fair questions. Here's my thoughts:
I don't think the DAO needs or should ever have a backup plan. If the SPS DAO fails, there isn't much point in having a few hundred grand laying around for people to fight over when it'll just be too little, too late in my opinion. I left ETH and HIVE until last in the hope that they don't have to be used in this way, but as is they are just sitting in a wallet doing nothing. If the SPS DAO is a SPS maximalist (which it should be) it should value SPS more than either of those. If we as individuals value those tokens more than SPS, we should probably just buy whatever percentage of those makes us feel safe and not have the counterparty risk of the SPS DAO holding them for us.
That was a really good answer! You've got me convinced. I support this proposal.