RE: Finding out how does HBD interest work by reviewing code
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Thanks for the explanation. This certainly is a big move by the Witnesses because, you stated, since you joined, there never was interest paid on HBD.
Tangenting a bit, we see the effort to strengthen the peg of HBD to 1 USD through the use of DHF. Is this move being done as a part of that effort, to try and incentivize people to hold HBD rather than speculate on it?
It seems that we could really use a stablecoin on Hive, which, if my understanding is correct, was the original intention of HBD.
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I believe so, the main goal is to push the price action to the Hive token.
HBD is a debt instrument (a promise you can trade it in for $1 worth of Hive on some future date of your choosing). It's goal was to be a stable coin, offering a solid solution for commerce related activities. For example if I sell a blue widget that I feel is worth $10, I know I can sell it for 10 HBD and don't need to worry about price. When HBD does not hold closely to $1, that goes out the window.
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Once again, Hive (steem) was ahead of its time with some of the ideas, but failed in the execution.
Hopefully the HBD and the new project will get the peg back in order.
It would help the establishment of commerce on Hive a great deal if we could peg and hold it.
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"Hive (steem) was ahead of its time with some of the ideas, but failed in the execution." unfortunately I couldn't agree more, we missed out big time on some major opportunities, but fortunately, time is still on our side :)
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@taskmaster4450le
that is so true sir,that will really make the HIVE to get a better value and stay more relevant...
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If people/groups are working to move/peg the price of various tokens and currencies, what happens if some of are holders (either openly or secretly) of those tokens and currencies? It appears to be a recipe for shenanigans, putting it lightly. There are no regulators here now, but everything is recorded for all time, and eventually, there will be regulators. Even AI regulators. And they'll be looking back in time and unraveling everybody's participation in, well, everything. Hopefully (although statistically it's very unlikely) there aren't any shenanigans going on.