HBD Interest Payouts For November 2022
Month of November has been anything but uneventful in crypto world. I am sure by now you have heard or read about collapse of FTX crypto exchange and all the drama around it. The news about FTX, SBF, FTX Contagion continues and will probably go on for the rest of the year. Failure of this major crypto exchange was significantly noticeable to all in crypto, as that and the troubles of other crypto entities have had influence on all of the crypto prices. While November was not so friendly for crypto markets, we have been in bear market for a year now. In fact, this downtrend started last November in 2021. Thanks to charts we can see the clear picture in retrospect.
There was no shortage of bad news for crypto in 2022. All of these unfortunate events caused many lose access to their assets, and many lose their funds. These events also has shown how much of the crypto world is influenced by anti-crypto activities. None of these events were because of decentralization, trustless systems, transparency, and all the ideals and values of true crypto promises. Most of these unfortunate events were caused by greed, deception, secrets, and implementation of centralized standards, all while carrying the banners of decentralization.
None of these events demonstrate any flaws in what bitcoin represents. None of these events represent what Hive is trying to do. Bitcoin fixes money, Hive fixes the web. There are also other projects that genuinely work towards building decentralized systems. But unfortunately, there are also those who hijack the ideals of decentralization, web3, open networks, privacy, ownership, transparency. These obstacles will remain. Old ones will fail and disappear. New ones will emerge. The true constants in this endeavor will be those who has been true to the true concepts of decentralization and web3.
Such events while driving attention, also encourage more research and better understanding of crypto and blockchain tech. It is regrettable that people lost they assets and funds. There is a lot to learn from this, and hopefully new found knowledge will make crypto builders and communities stronger.
I was surprised that the price of bitcoin dropped during this FTX and FTX contagion crisis. I would think such failures of centralized exchanges what seems to have fraudulent activities involved, would strengthen the position of bitcoin and it has been trying to do for a decade now. Don't trust centralized entities with your money. There is a better alternative, a trustless system, that removes the need to trust anybody. Such a simple and yet profound concept with practical implementation.
While all crypto prices dropped, Litecoin had a better month compared to the rest of the crypto assets. It was able to recover faster than others and its price kept going higher than what it was in the beginning of the month. Pleasant surprise for LTC hodlers. Still long ways to go to get back to the last years prices.
HBD once again, showed how stable it is. One of the best ways to track the price of HBD is watching the pHBD chart. I think it is more reliable than centralized exchange price feeds. Even pHBD price dropped significantly in November 8th & 9th, when all crypto prices dropped. pHBD went as low as $0.92. However this dropped was short lived, and pHBD price was pulled back to $0.98 in a day or two, and to $1 in less than a week. Not bad. This shows that the peg has been working as expected.
HBDs are not backed with fiat currency. That's why expecting 1-1 price with USD every second is not realistic. Since it is also traded its price will always fluctuate. It has too. And only the trading volume and activity will increase the efficiency of its price discovery. In essence, it doesn't even need a price discovery. It is not a coin that is meant to have its price to be determined in the market. Because its value is already determined by what it is. It is a promissory asset that is backed by Hive. Hive blockchain promises 1 USD worth of Hive for each HBD. As long as Hive network is healthy and deliver on this promise one HBD is worth one USD. Of course there are exceptions to this rule in certain conditions. These rules are in place to protect both Hive and HBD. These rules are good both for Hive and HBD investors.
Hive keeps building. HBD continues to be stable. Hive blockchain is still paying 20% APR for all HBD held in Savings. Currently, 15 out of 20 top witnesses have their APR parameters set to 20%. Impressive! HBD continues to show how very useful and interesting investment asset it is, especially during the bear market.
Let's take a look at numbers for November, 2022.
There is a decent increase in total HBD interest payment amount for November. In fact, 69,228 HBD is the highest total interest payments in a month since the Hive blockchain started paying interest payments. While there is still no massive adoption of HBD, it is clear the interest for holding is growing.
Posted Using LeoFinance Beta