No other blockchain has a debt instrument (except for Steem) like Hive does. That is the difference.

HBD could be a point of vulnerability in that it could allow someone to stack up on that token and then convert it during a down time in the price of Hive. If the price dropped to 1 cent, as an absurd example, then someone could convert their HBD into a crazy amount of Hive. Thus a few million HBD would open up the possibility to take over the chain.

The question is how unrealistic is that, especially if the activity keeps increasing substantially on Hive.

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