The Daily Meme #460!
Hbd doesn't have to be stable, it only has to be stable enough that people use it.
This is an under appreciated fact of the math.
The internal market is there for us to trade hbd for more hive.
Using it entails zero third party risk.
You don't have to give up control of your hbd to trade on the internal market.
You can lock hbd in savings and get 20% on it.
Again, without giving up control of the coins.
Buy hbd when it is .9 and sell when it is higher than .9 and you can't lose.
Hbd is becoming a reliable store of value.
I just wish I had bought more when it was .4, I could have more than doubled my hive.
If you trade on the internal market you help the whales out by relieving them of some of the hive they would've had to buy if you hadn't.
With the whales over 50% of the total float, we need to relieve them of all the hive we can.
Buy low, sell high.
Profit.
The conversion formula is sufficient to use HBD as a stablecoin. The formula guarantees that HBD investors will get $1 worth of HIVE after a three day wait period. One then has to minus the cost of selling that HIVE on the open market which isn't that terribly high.
The mistake the witnesses are making is the belief that there has to be a large amount of HBD on the market for people to use HBD as a stable coin.
Since the HBD can be converted to HIVE, a large amount of HBD on the market makes the entire HIVE ecosystem less stable.
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oh cool! u mean I still got 20% APY even on the HBD/HIVE that I used in open orders? because the hive market seems to hold that and remove it from the wallet.
I don't need $3 HBD.. just maybe $1.20? :P
Hbd should always be 1usd, it is a 'stable' coin.
When it goes above 1usd, sell.
When it goes below, buy.
Easy peasy.
You have to put your hbd into the savings account in your wallet to get the 20%.
Powered up hive gets ~12% if you curate with it.
9% from curation and ~3% directly from the inflation.
Open orders got nothing coming.
Except, profits from buying low and selling high.
oh cool. i am learning. Thank u!
I was just watching HIVE price before and not really paying attention to HBD..
I had a feeling these pumps and dumps are affecting the conversions. Can you cancel a conversion during the 3.5 days?
No, no canceling.
From my experience it is better to just make the trades on the internal market.
If you start a conversion and the price changes alot in the three days, then you definitely were better off on the internal market.
If the price spikes really low, but recovers before the three days are up, you could lose money.
Personally I like to see Hive being pegged, if you know what I mean :P
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(1/1)
It is ok when HBD is around $1. What is important that is HIVE's being above $1.
When people figure out that we can do what all those other coins can do, and more, without fees, there is no telling where our price goes.
When it was above 5usd the payouts were insane.
I bet! Actually I would want it because the upvote payout on HIVE is so little according to the HIVE Power of an account. The ratio could have been increased a little bit.