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RE: Hive Backed Dollar: Secondary Innovations

in LeoFinance3 years ago (edited)

I think it would make a ton of sense to have transaction fees as an alternative to powering up. I don't think it would necessarily even be too hard to implement such change. Not all users want to power up.

The problem with HP and only it granting the privilege to use the chain is that under that system there is no clear sink causing demand for space on the blockchain to create a continuous demand for HIVE or HBD. The user base has to grow for there to be a force to even maintain the price of HIVE if pure speculation is ignored. Introducing transaction fees as an alternative to powering up adds to the utility of liquid HIVE or HBD.

Purchasing HP can be seen as a way to purchase temporally unlimited access to space on chain. There is no reason why access to said space could not be sold on a single use basis.

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The problem with HP and only it granting the privilege to use the chain is that under that system there is no clear sink causing demand for space on the blockchain to create a continuous demand for HIVE or HBD.

That is true but it is where the applications come in. What is built on Hive is responsible for expanding its user base. Isnt that a business 101 basic? Grow your customers.

With all that is being worked on, I have a feeling that we will see this changing. There is a lot of focus upon things that will have appeal to people outside of Hive. It is just a matter of getting those things rolled out.

Posted Using LeoFinance Beta

Growing the user base makes perfect sense and should be priority #1. But I think there is utility in a mechanism that keeps up demand for HIVE and HBD even if the user base is shrinking. Such a mechanism helps stabilize both currencies.