My first HBD interest
Looks like I got my first HBD interest payout the other day. It's not much, but it's nice to see it working.
Some of you might be thinking, why does that matter? It's only 3% APY. You could get a much better deal using USDC or USDT on Compound. For one, this is an experiment by the consensus witnesses. It goes along with getting HBD to its supposed peg.
In places like Compound, you'd still pay exorbitant fees to lend your stable coins. That's the downside of Ethereum. That 10% looks great until you realize you need to put in a good amount of money in there to make it worth it. Even with $10,000 vested, you could lose several months of interests moving it with the current prices. If you are a whale, none of this matters.
For "poorer" folks like you and me, having HBD working "as intended" is a good thing. This doesn't mean that HBD has to blow every other existing stable coins out of the water. But, imagine HBD at its peg and interest is around 5-7%+, it'd become an attractive option. Unlike other lending utilities, HBD interests is part of the base layer of Hive. Remember, USDC and USDT don't give you yield by default.
Don't have $10,000+ to make lending worth it on other platforms? Well, try out HBD on Hive! There are no fees. The chain will auto-distribute it to you every 30 days. Are there not enough HBDs in circulation? Looks like it'd be possible to convert HIVE to HBD in the future. Wouldn't this also create demand for HIVE?
At the end of the day, this is the vision. Whether or not the current efforts will ever stabilize HBD, time will tell. This isn't about "whales keeping you down" like some bygone writer claims. I find it funny how some people still looks up to him. That's short-term thinking. That's living from bull cycle to bull cycle. If you want your stable coin pump, go back to Steem.
This is about making the "currency" you hold worth something no matter what part of the market cycle it's in. At least, worth something more than a placeholder for dumping into fiat or other coins.
Is it too little too late? Who knows? By this point, the community and those at the helm needs to try all possible options. In the "free market", you either adapt or die. We may not all agree with the methods, but do nothing is definitely not an option for this platform.
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BEER.Hey @enforcer48, here is a little bit of
BEERfrom @pixresteemer for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.if you sell your HBD right now you get 30%. lol. I think it was good to add some interest back to it.
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Haha, if I had like 100K HBDs right now, maybe.
That is great
congrats
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Don't know if it's worth celebrating yet, but it's a first step.
This year star very good! All altcoin go up. Maybe hive will be 2$ or pump to 5$?🤑 Two times I convert hbd with profit.
As long as HBD stays relatively stable when HIVE does pump to that high, it will be good enough in my eyes.
Yeah I'm holding a C-note and some change. Why not...
Who's yippin? Could use some drama right about now.
Oh, just some other dude returning to post again after disappearing since the HF away from Steem.
Not worth mentioning since it was a minor disagreement in assessment about HBD.
Fair enough. I shouldn't be so nosy anyway.
My guide to drama:
I think I'm about to get all dramatic about profile pictures and wondering why it won't change...... Got any tips?
It changed. It just takes a little bit. At least, it changed to me on PeakD.
I went as far as rebooting windows... I'll just pretend that's what fixed it.
Well, it works now.
Slowly and steady wins the race.
Most if us start small and build the wealth from there.
I must check this as well. Better to earn some interest instead of letting it sit idle.
Thanks a lot for sharing and take care
There's a good possibility that interest will rise in the future.
Can you pull it out at any time? You just need to keep it in the 30 days to get a payout? I might throw some in there. More to help the study, not because I really expect to make anything from it. Thanks for sharing this.
You can pull out at any time. The chain will recalculate. It’s just that it’s set to pay out every 30 days.
I really like the new things that are being done for HBD, though I feel bad for HBD because everybody wants to peg it :)))
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It needs to be done.
Better off making 3% APY investing in something you believe in, than making 6% on something you feel unconfident in. If nothing else, psychology/happiness value, especially as one gets older and considers the impact of their decisions on the world around them.
Unless it's blood money or fraud, I think we shouldn't feel too bad about the gains.
One other difference is that with compound and such (and even more so with centralized lending products), you are lending, and as with all lending there is a potential for default. There is also risk from the smart contract failing (bugs or expoits). These risks might be small, but that's for the investor to assess. The tokens themselves pile on additional risks. USDT and such are centralized and the issuer may fail (and has smart contract risks, too). DAI and such have its own complex smart contracts that may fail or be exploited.
With HBD, you are just getting paid interest by the blockchain itself. There is no counterparty, and no complex smart contracts involved.
Thank you kindly for the more in-depth explanation.
That's great this 3% is definitely better than many centralized staking opportunities.
That is very true. That 0.15-0.30% I get from banks, etc. is so pathetic.
Oh that's very bad. At least it is 4 to 5 % here for us.
Haha, that rate is unheard of for me.
For me, it was always about the vision. I like being on this trip. I believe it has a future. If I'm wrong, I had a lot of fun along the way.
I think I can relate.