RE: Debt Amplifies Dips
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Witnesses have expenses. Some might even have employees.
For that matter, a primary reason that blockchains issue stable coins is so that the people hosting the chain can pay their fixed costs.
So, I would not witnesses for selling HIVE.
The interest on HBD costs way more the cost of hosting, and does not provide any real value to the chain.
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I agree that witnesses - and other devs - have costs they need to cover. I'm not saying that selling is evil per se. However, the capture of inflation from the pool by whales exceeds 90%, and my understanding* is that most of that is put up for sale. Most of that selling isn't to cover fixed costs of running servers, but simply to provide cash income, ROI on capital. The interest on HBD isn't more than that, or even half of that.
The interest on HBD is not a significant contributor to the selling of Hive, and is not the reason Hive price has crashed. It is the whales selling their 'dividends' and recipients of DHF funding dumping Hive on the market to get fiat. That is the reason that Hive has continually lost position - and if you examine the reduction in Hive's market position the rate of it's decline has been steady and continuous, not impacted significantly when HBD interest was set at 20%.
The HBD interest rate is a bugbear that has no significant impact on Hive price. Whales and DHF recipients selling is the cause of Hive price declining. The monthly interest on my HBD savings is <$25. I do not sell that interest. It does not impact the price of Hive, and shockingly I am one of the top 1500 accounts. Most people get less than me for interest on HBD savings. Look at Hive sales on exchanges, and the total HBD interest distributed monthly is a pittance in comparison to the volume of Hive sold.
It may grate on your nerves, but it isn't a significant factor in Hive price.
*Edit: the bare majority of stake month to month maintained by the ~36 whales is consistently >50%, and <51%. That means that whales sell every Hive they get beyond what is necessary to maintain their bare majority of stake and maintain total control of governance by maintaining the majority necessary to elect the witnesses that run code and therefore govern Hive.