I am concerned about the value of Hive being affected, people disincentivized to stake Hive and the conversion of Hive to HBD will likely take a hit on the token. Also, I am concerned about how printing more HBD actually affects its stability.
I get that if we achieve our aim with it (more investors, more liquidity), then its a win-win, but don't you see any drawbacks at all?
Well in all honesty, you're the technical one on this matter...so your opinion does hold weight
There are other reasons to hold Hive as HP than just the ROI. Could some swap it out and go with HBD? Certainly. But that affects their governance, their ability to curate, and the upcoming RC delegation.
Plus when people come in to use the savings program, they require some RCs to do anything. This means more Hive will have to be powered up by someone. People overlook the fact that Hive is the "gas" for the chain. We cant get around that.
Also if there is a lot of conversion from HIVE to HBD, that will mean less HIVE, which then, with any demand at all, will push the price up even more. Doesnt everyone in crypto want lower amounts of tokens and think it a good thing? Here it is and now people suddenly do not think less tokens are good?
I wonder what the reaction of the Hive community would be if there was an announcement of a burn of 10 million HIVE. Do you think people would get upset thinking it a bad idea? I dont.
As for the stability, it is going to depend upon the use cases that are created. If the only thing tied to HBD is to put it in savings and create more HBD, we might have a problem. But if applications actually start building it in as a payment mechanism, then we will have use cases. That means we are far short of how much HBD is required.
We have 9 million out there right now. I think we can go a couple hundred million before we worry about stability. Just look at how many tokens other stablecoins have out there.
I am concerned about the value of Hive being affected, people disincentivized to stake Hive and the conversion of Hive to HBD will likely take a hit on the token. Also, I am concerned about how printing more HBD actually affects its stability.
I get that if we achieve our aim with it (more investors, more liquidity), then its a win-win, but don't you see any drawbacks at all?
Well in all honesty, you're the technical one on this matter...so your opinion does hold weight
There are other reasons to hold Hive as HP than just the ROI. Could some swap it out and go with HBD? Certainly. But that affects their governance, their ability to curate, and the upcoming RC delegation.
Plus when people come in to use the savings program, they require some RCs to do anything. This means more Hive will have to be powered up by someone. People overlook the fact that Hive is the "gas" for the chain. We cant get around that.
Also if there is a lot of conversion from HIVE to HBD, that will mean less HIVE, which then, with any demand at all, will push the price up even more. Doesnt everyone in crypto want lower amounts of tokens and think it a good thing? Here it is and now people suddenly do not think less tokens are good?
I wonder what the reaction of the Hive community would be if there was an announcement of a burn of 10 million HIVE. Do you think people would get upset thinking it a bad idea? I dont.
As for the stability, it is going to depend upon the use cases that are created. If the only thing tied to HBD is to put it in savings and create more HBD, we might have a problem. But if applications actually start building it in as a payment mechanism, then we will have use cases. That means we are far short of how much HBD is required.
We have 9 million out there right now. I think we can go a couple hundred million before we worry about stability. Just look at how many tokens other stablecoins have out there.
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