Thank you very much for an informative post with valuable links.

I have been doing some reading to better understand the valuation of HIVE & HBD and many posting focus on defending a future value without giving much background on what determines the current value.

In your statement...

First of all, the 20% APR is not fixed and it can be changed at the discretion of community-voted witnesses.

Is it possible that the witnesses make a decision that is based on the impact on their own holdings versus the will of the voters? I am always concerned about a system that is designed with good intention to protect its underlying value and purpose but that protection may become deficient because of a few wealthy and influential players working for their own interest and not the overall system. Hope that makes sense. !LOLZ

I still need more time to think about the impact of DHF payouts and holdings.

Thanks again for the value added posting.

Jack
!LEO