RE: RE: The Future of Stable Coins
Does the 20% interest on HBD provide any value for the blockchain?
One could also ask about 15%, 12%, 10%, 2% bringing any value to the blockchain? Certainly if it doesn’t, perhaps the 20 oracles making it happen won’t?
The long term effect is that most of the HBD interest will be converted to HIVE and sold on the open market. It is likely that the dumping of HBD will happen in a weak market.
Converting 55000 HBD at $0.453 would create 121412 HIVE to be dumped on the market. The epic dumping of HBD will happen when HIVE is trading below $0.3.
These assumptions are very unfound, unclear and unrealistic. I mean, you could as well assume that the world will end on Friday.
IF the conversion formula is sufficient for HBD to operate as a stablecoin, then why are we inflicting so much damage on the Hive-O-Sphere in a scheme that only benefits the top 1% of accounts?
I don’t get this logic. The same 1% locking in most Hive as HBD should not benefit?
In my opinion, Hbd is responsible for only about 5% of Leo price action.
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