I commented the other posting:
https://peakd.com/hive-121566/@thehockeyfan-at/steckt-hive-in-problemen#@blkchn/re-condeas-sjy14x
Now here in english:
I'm still pretty new here, but I quickly became interested in the topic, but haven't found a satisfactory answer yet.
One is the ratio of debt to property/real value. HBD is supposed to represent a certain value. Are real dollars really being held somewhere or is it just a fictitious value where HBD and Hive are somehow pushed back and forth.
The other thing is/would be to show the income and expenses. Is there a surplus, i.e. more is received than spent, or does expenditure exceed income? If the positive surplus, i.e. more income than expenses, is large enough to pay off the debt/interest and the debt can also be paid off, the debt would not be a problem. If this is not the case, there is a risk of insolvency or bankruptcy at some point.
But if the surplus is only borne by users through new investments (someone buys Hive for euros or dollars or ...), then it's more like a pyramid scheme.
@dalz is providing a lot of statistics. Maybe he could create an overwiew of income and expenses. I think this would be very interesting but maybe not so easy to create.
Hey, The answer to your question is in my post. The backing of HBD is by the holders of Hive eg. The Hive Market Cap. That is why the Hive Market Cap is so important and not to be distorted... Basically unlike other stable coins where they have USD treasuries as backing (USDT), HBD has just Hive!! So the equity of Hive HP holders is being drained to maintain the HBD peg, pay HBD interest 15% AND pay the Hive DHF funds!!!
The HBD debt is now LARGER than the HIVE equity! $67m market cap MINUS $35m HBD debt = $32m equity... Therefore in my opinion, the HBD stable coin and interest and DHF payments are unsustainable and Hive is going to crash.