RE: Is the 20 % interest rate on HBD holding Hive price down?
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I'm not sure about impact you are describing, it doesn't sound totally out of the question, but there are longer term motives to discuss.
HP (Hive Power) gives a holder the following opportunities, I'm not sure this is an all inclusive list, but it covers the basics.
- Resource Credits.
- Influence on Governance
- Voting Power
- Future opportunity if the price goes up.
Once a person has reached a fairly modest amount of RCs, there is no longer a need to continue to power up for RCs.
Due to the distribution having a meaningful contribution in governance takes a very large stake.
Voting power only matters to those who want to build the social applications of Hive. Many aren't that interested in this side, although it sometimes feels like the main drive, because that is where we communicate.
If the Hive price goes up like any other token there is a great opportunity to grow your stake, while HBD on the hand remains stable and pays interest.
In my opinion what the HBD interest drives is to allow those who don't wish to participate in the social elements a reasonable place to grow their holdings and we see less participation from those who weren't into it in the first place and over time I think that improves the social side and allows for future growth.
It's just one point of view, I look forward to reading others.
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“ If the Hive price goes up like any other token there is a great opportunity to grow your stake, while HBD on the hand remains stable and pays interest.“
But it’s not stable at all. It moves 10% many days (1.00 to .90) and often is hanging out around .93 or .95.
My concern although I don’t think presented perfectly above is the new wave of many here promoting it outside our platform as “the best and most stable coin” and it’s just not true. My concern is if all energy bu many is promoting HBD more then Hive it’s going to let many people down and hurt our reputation. I don’t think it’s going to destroy the platform, I think smart minds would fork and find a solution b4 that happened but it’s just not a stable token at all. If promoted for use as a overall stable coin it’s going to be judged like a strait up stable coin and it won’t work. I am anti HBD all together at this point. I say fork and turn it all into Hive. We don’t need it anymore here. But use here at least we all understand it. Promoting HBD for general stablecoin use outside Hive community won’t end well. 20% interest isn’t permanent and many I see promoting it as a sure thing indefinitely which is just crazy.
It’s all respect ✊
Smart people can disagree.
Just don’t like a platform I care about being promoted like most scams are. Hive isn’t a scam at all. I don’t wanna see it hurt by HBD failing expectations….
If you want the price of hive to be fractions of a penny then removing HBD is your best bet. HBD is one of the only and best ways we can keep the people who are constantly selling from dumping the token further.
It’s a bear market, hive is performing pretty well considering the sheer cliff many other coins and projects have fallen off in these downturns. It hasn’t lost its market position much at all and continues to perform despite significant amounts of people selling the token left and right.
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I agree completely, this was my thoughts since the bear market started, that Hive has been holding up.. in that sense Hive is pretty strong, it does not go up a lot in bull markets, but also dont go down a lot in bear markets. Its probably because Hive has a lot of real users, all with their own opponions, so its strong in that sense.
Its lacks pumpamentals though, which Richard Heart and Lasse Ehlers related products have! Hive is good for storing text on the blockchain in posts, not so much for anything else.
#lassecash
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I don’t see why removing HBD should have that effect, can you elaborate on that?
So right now people on hive have four things they can do with liquid rewards.
They can convert or exchange hive for HBD which in many cases keeps the funds on the chain here.
They can power up the hive which is even better for locking the assets away and preventing wild fluctuations in speculation and price for many people.
They can spend it on things like hive engine, Splinterlands etc.
They can transfer it out and sell it on an exchange.
If you eliminate HBD then everyone gets paid in liquid hive and hive power only. When we had this previously it caused even more of a downward pressure on the hive token because if you have the main token, hive, readily available and not needing to exchange it for something else, it prevents people from holding an asset longer term. Right now we are getting paid, according to an algorithm calculation, HBD as the liquid asset until the ratio of hive to HBD is at a certain threshold (I don’t know this exact number but I’m sure if you poke around blocktrades you can find it somewhere) forces people to do different things with their post rewards. They could either drop the HBD into savings, and locking away a liquid asset and preventing spur of the moment speculation and dumping of the token, or exchange it on the internal market or convert it into hive both which still do stay on the chain here and usually don’t involve outside exchanges.
If you remove HBD entirely, we’ve seen in the past that it just causes further price dumps of the token and people drive it to the ground to then buy it up, wait for more upward price movement and then dump again. It’s not guaranteed that having HBD around makes it impossible for these things to happen but it significantly reduces the chances of it happening which is great. I and many others keep the hive and HBD transactions internal to hive without going to exchanges. If it was just hive, this wouldn’t be the case and it’s too liberal of a fiscal policy for the chain governance. Taking the more conservative approach and incentivizing people to keep their funds on the chain here and in savings accounts is far better long term. It also creates good use cases which is important.
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I disagree, I respect you and it’s all love and respect here. I just have a different opinion. Time will tell
The price is stable on the internal exchange.
Stop looking at the price on Coingecko. That is misleading.
It tracks Upbit which is a closed exchange to those outside of S. Korea and Bittrex which has no volume and often has the Hive wallets locked.
HBD on the internal exchange and pHBD are both holding near a dollar. They fluctuate a bit but are mostly within 1%-2%.
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I still think my point is valid. I just feel differently then u guys. I respect u a lot. I just disagree. Time will tell and there’s no need to stress about having different opinions. It’s all love and respect ✊
I just think hbd won’t go well this way. If I’m wrong I’ll be happy.
Oh no not you again, an older woman that verbally abused me in SteemSpeak back in the day... I hope to never meet you in person and I dont really want contact with a bad person like you, but for my friend @pele23, I will read your BS comment and respond sense to it!! Only for my friend, after that I never want contact with you again EVERY ON MY LIFE!!!
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The comment is just boring, the truth of the matter is, the Hive Blockchain works well for storing text in posts, the rest is kind-of messed up by BALLHEADs, so I dont give much credit to it.
I came up with the ideas for LasseCash to build a trustful and virtuos environment, and that succeded. There is no drama, no corruption or what not on LasseCash, instead quality posts gets rewarded and longterm mentality is rewarded.
Hive is like the dumb highway that LasseCash runs on, brainwashed ballheads secure the Hive blockchain and they do a good job at that, the POB on Hive is fucked up and I dont see it fix within the first 5 years... who knows after that?
Peace to @pele23 and out!!
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