The trouble is geekgirl, we use HBD for something. We use it to fund our proposals. If a proposal was funded for 100 HBD/day. It is supposed to get $100/day.... not $200 or $700.
That's the problem. Steem or SBD doesn't have that problem. They can run amok.
Yes, I agree. It's just market doesn't seem to understand that. :)
That's ok, we're going to try to teach it better. And the DHF is getting paid to do the tutoring.
I was asking themarkymark the following on his post. If I may ask you as well since I also have a follow up question.
Could you help me understand this?
For simplicity purposes let’s say market price for hive is $1, and hbd $2.
Is this how it works?
If this is how it works, why not make this part of the blockchain code when dhf or designated internal account does what hbdstabilizer is doing but with larger amounts based on market conditions. Sort of an internal AI. It seems like this process works and it is only matter of amounts used for it to be successful in establishing upwards peg for HBD.
Assuming HBD is above $1, this would work.
However, since it isn't always, and you need to know the actual price of HBD at the time to decide whether to trade it for HIVE or just send it back. There isn't any easy way to do that within the blockchain. A mechanism to do so could be built, but it doesn't exist and isn't trivial.
I think this DHF fix is just the temporary cludge which can be done without hard forking and the only real answer is the internal market for HBD that means all of us can attack a pump if we want to.
We can defund all, simple.
Like they return the overvalue or defund. Lordbutterfly for example does all super transparent. Like the price, he sells HBD for the marketing proposal.
Sure defund is not a master solution, but nothing is with HBD :D
That's what @blocktrades did (and some other stakeholders may have adjusted votes by now as well, I'm not sure). He said he was going to make another post more directly about that aspect of it soon.