HIVE and HBD are completely different.
The first has speculation while the latter is fixed income.
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HIVE is also power on the platform regardless of price though.
That is true. There is utility with it.
However, when looking at the reason why most are investing is different.
As a content ceator and active curator, I value HP. I also think HIVE itself is undervalued against the dollar right now because Bitcoin took a hit and dragged altcoins down with it, but I acknowledge I could be wrong here. I know I am gambling on market changes, but I suspect HIVE has a bigger upside even compared against compound interest in the next few years.
If I were to go inactive for a period of time, I would consider a change in my holdings. I might power down some HP, buy HBD for the 20% interest, and delegate more to Ecency and OCDB for an return on HIVE above and beyond the interest rate there.
Indeed, they are definitely very different. But they remain interdependent in the sense that if it is more attractive to hold HBD than Hive (in people's MINDS, regardless of the market movements) people will sell Hive to buy HBD... and vice versa.
I look at it from the building value and where it is driven to.
Development needs to take place to build value for HBD by building value for $HIVE.
Of course, we also have to take the steps to build value for HBD on its own.