My Actifit Report Card: April 10 2022
It was a more relaxing Sunday compared to normal and I had fun when I was shopping outside. Most of the prices of things did go up but I was able to find a few things on sale that wasn't too bad. My morning was the usual commenting and then it was some chores around the house. I went shopping and when I came back, I realized that I didn't post my weekly Splinterlands battle post so I worked on that post. Half of my walking was almost done by the end of my shopping so I didnt have to worry too much at night.
As usual, there are a ton of posts about the 20% APR rate and I learned a little bit about the entire process. It looks like it's chosen based on the median to avoid people manipulating the rate. On top of that I think the short term and mid term effects should be fine. The only thing of concern is how this will work in the long term if there is too much HBD in the savings. The liquidity issue is real and I saw that khal mention that collecting enough HBD is tough.
I had a no neutral quest and yodin didn't work out as much as I would like. So I ended up changing to other splinters and I finally finished. I still haven't checked my rentals and I need to start doing so soon. My rewards chest did contain a gold foil common card so it wasn't that bad of a day.
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What gold common card did you get? I think the witnesses can always revert the APR on HBD so it less of a concern and we will see how it goes, though I was initially worried if it is going to be sustainable.
This is true. The interest rate of the Hive Dollars (HBD) is voted by the witnesses. It was 10% APR, when I transferred HBD to savings for the first time. Then it was 12%. Then 15% for a short time, then now 20%.
I think that the 20% interest rate is probably short or medium term to get attention to the Hive Dollars (HBD). And there are still other cryptocurrency projects, which offer a higher interest rate. Even on the Hive blockchain. For example Splinterlands currently offer 25.94% APR for the Splintershards (SPS), so I would not worry much about this. I know that the SPS interest is slowly decreasing. I remember that it was above 100% at the time of the introduction of the SPS.
I hope that the witnesses know what they are doing.
@edicted wrote that "The only problem I see with this move is that the witnesses are playing with fire and they might not even realize it".
I wrote that "Then I hope that they will not burn themselves. If they get burned, then probably we also will get burned", and I still hold this opinion.
We have flexibility on the chain things can always be reverted in the base layer if it doesn't work out well I think.
Pelacor Bandit
I know they can always change it in the future. I was a little surprised at how fast the savings rate changed.
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