This is fascinating for me. Till now, I always looked into project tokens or utility tokens as the potential drivers. UST has shown us how stablecoins can bring value to the whole project. I need to learn more about stablecoins and your articles are amazing resources. As you said, the looming regulations around existing stablecoins can dump the existing crypto market but may also provide an opportunity to these algo stablecoins, including HBD. Staking whatever amount of HBD I may have in the future :)
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It's only a matter of time before they will try to figure out a way to harass algo stablecoins.
It's hard to balance all of this, buying up awesome project stuff and trying to save LOL
It depends upon the centralization. If there is no single entity behind it, then there is nothing that can be done.
That is why HBD is so powerful. It is base-layer which means that nobody is in control of it. All is based upon the blockchain code which is run on more than 100 computers around the world.
We see this is the problem with the non-algo stablecoins. Circle and companies like that are targets. It will still work, they are just going to he regulated like banks. Is that what we really want though?
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Yeah, they will definitely still try and I think they will just revert to other tactics like shutting down servers that people are using to run the chain that are hosted on AWS or Azure since they know they can't attack the coin itself. Will be lots of fireworks related to this!
On another note though, I'm kind of glad that we don't have the same attention that UST does. We can keep an eye on what happens to them and see where things go from there.
You are right. There is a lot of advantage to flying under the radar. We have time to build and grow into things while discussing different approaches and topics.
However, there will be a time when we have to hit the "go" button and we need to be prepared.
They could be a model to watch yet we still need to forge ahead on our own.
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All valid points. The only thing that I want to add is to be innovative and pioneer rather than being the close second. The early attention is not always bad. Hive seems to fly under the radar till now. I have never seen in crypto twitter mentioned Hive as a web 3 platform/application/project. Not sure that's a goo thing. I want attention to Hive. I know it is happening as shown by the recent price action.
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It is a vastly overlooked dynamic. Commerce requires money and the money in this regard, used for transactions, are stablecoins. For all the fluff about crypto replacing the USD, it is not. People treat crypto like stock, looking for it to moon. That will not work as a medium of exchange (sorry Bitcoin).
Hive would be well served to understand the need for a strong base layer algorithmic stablecoin along with the establishment of pristine collateral. This could really set Hive apart form all else that is out there.
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True. Things are happening at the base layer on hive and that's always good. I am not sure who is driving the conversations about HBD use, including bond, within Hive but it is absolutely necessary to develop Hive as a complete ecosystem.
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