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RE: HBD Stabilizer - Renewal R4-2025

in #dhf • yesterday (edited)

I am honestly surprised it has held up like it has. I am bullish on HIVE just because of the way this thing is addressed by the many different communities on HIVE. We are all very different people on HIVE, so when "a lot" of us find commonality, I think that is interesting and worth paying attention to.

HBD is slowly becoming one of the biggest and most important things on HIVE; holding HBD to peg is top of most people's minds.

I have been buying HIVE and upvoting comments that go to the HBD stabilizer because that is the only way I can "help." I doubt what I am "doing" has any serious impact.

HBD conceptually is cool, but there have been an insane amount of investment on ETH stable coins that are backed by assets not an algorithm.

Algorithm based stables have a bad history in Crypto and fiat; and it typically does not end well. I am not saying anything bad will happen to HBD but I would be lying if I said I was not concerned.

HBD holding up like it has, is nothing short of amazing..... But that just makes me think maybe it is asset backed after all.

If we had no HIVE inflation to pay for this, where would the money come from?

I have no idea.

yesterday in #dhf by
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     22 hours ago (edited) 
    1. The stabilizer gets post rewards. You can support it that way by voting for the daily comments posted by hbd.funder
    2. It doesn't really need a source of funding. The stable coin works to some extent even without a stabilizer but it has more short term swings. But even if you wanted a stabilizer, it could work fine with just a fixed pool of capital, and no ongoing funding. Historically the stabilizer has turned a profit and it probably would in the future as well, but even if not it could still work as long as it didn't lose so much that it ran out of capital to trade, which is very unlikely.
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    [-]
     21 hours ago  

    That makes sense. I do think we have cost of capital though, I don't know how we could calculate it but it may be possible to calculate it.

    I am not saying we should do this, but is there any reason we just have a stabilizer and we don't try to back it with other stable coins? (In my gut I want to say try to back it with bitcoin but it feels risky 🤣)

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    [-]
     11 hours ago  

    Somebody would need to hold the coins, increases counterparty risk.

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    [-]
     11 hours ago  

    That's a really good reason not to do it!

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    [-]
     yesterday (edited) 

    So what do you recommend this proposal should be supported or not for now.. Ok I see you are supporting it. Cheers

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    [-]
     yesterday  

    I support this proposal and am upvoting things that support the HBD stabilizer.

    I am not the right person to advocate for a change on this front. But I do want to use HIVE more and discord less so I am just speaking my mind here.

    I am open to debate this and be proven wrong on chain. I think that makes the most sense so at least we have some record of people's thought process.

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    [-]
     yesterday  

    Cheers to you too!

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