RE: Hive Backed Dollar (HBD) Is Becoming A Stablecoin
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It does look like HBD is maintaining its peg even if there are pumps on HIVE so I think it is doing quite well. I am debating about selling out some HIVE for HBD when prices for HIVE pump and then buy back HIVE for cheaper when it dips back down.
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That is one way to do it. Of course, just having part of your portfolio as HBD could be a sensible way to spread the returns you are getting.
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What peg? No sarcasm , it’s hardly ever between .99 & 1.01…..
I think it just confuses newbies frankly. 7% interest on a coin that has no actual peg is not really worth it unless it’s strictly speculating. I wish we’d get rid of HBD and just use hive or switch to a independent stable coin
There are internal mechanisms to force the price once its below or greater than certain values. I think HBD at least works out on paper but we will have to see.
You can always just convert your HBD into HIVE if you want. There is an open market and a conversion function.
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In its 4.5 year experiment (counting steem days but we can just do hive time period and it’s same thing) I’m just stating the facts. Had never been stable. And now In 2021 most stable coins are backed or have a history of being tied within a penny of dollar. I love hive and this isn’t bashing our platform here. Just going by what I’m seeing. Why would anyone not here already trust HBD? They won’t. If a year goes by and we see it hold I’ll definitely revisit. But I’ve seen again and again HBD And prior SBD just fail totally at being stable. I love hive and love this platform! My comments on HBD are not my feelings of Hive overall. I just think HBD actually has done more harm then good in long run. Great minds can respectfully disagree
I say cheers 🍻 friend. I’ll be watching and hoping you do end up being right👍