I’ve never understood people who want a high HBD (or SBD) price. Hive should rise in price because it holds all the utility! Resource credits, governance voting, etc. HBD’s only utility is that it can be converted to $1 of Hive... So obviously if we see HBD trading at multiples of $1 it is pump & dump trading activity and completely divorced from any underlying fundamentals. Anyone paying $8 for a token thats only utility is to be converted into $1 is a scammer or a fool.
We should never cater Hive economic principals to these types of traders and I’m happy the stabilizer proposals are skimming their profits & reinvesting into Hive instead. The growth of the DHF treasury through Hive’s increased market cap and the HBD stabilizer are very heartening.
That being said I do hope that development and marketing proposals currently pushed out of funding were able to capitalize on the pumped price to make up for lost days on their proposals and will be restored to paying status as soon as the economics make sense. I noticed the shake up in rankings yesterday but was unaware of just what votes had switched around so thanks for this post & your thoughts.
The unvoting is definitely a temporary measure. I will be revoting all the proposals I unvoted as soon as it makes sense.
Good to know and I do trust your judgement & strategy here, I'll be looking forward to tomorrow's post.
The only proposal I have any concern about in the short term was @lordbutterfly's marketing proposal. I'm intrigued to see how it plays out. I hope he can perhaps update on how much funding was secured to date given the HBD price pump and if there are any current concerns with making contracted payment dates if the proposal remains out of funding for long.
I was pleased with @peakd acknowledging the surplus of funding they've managed to achieve recently and donating some back. That’s evidence that most proposals can weather a drought in funding if they’ve capitalized on the windfall of higher HBD values themselves.
Currently there is aprox 68000 USD secured (16k already payed out) + 4500 HBD that should be sold soon.
Thanks for the update. After the initial outlay there are monthly payments for the duration correct? Would it be accurate that this disruption to funding isn't immediately critical to your proposal?
I would say it is not. Blocktrades is aware of the timeline and payments required.
Some people paid (and are paying) even more for it. Steem Dollars (SBD) was above $10 USD multiple times in the previous 90 days.
Its current all time high was $22.34 USD on 2017.05.17.
The real reason for the much more value than $1 USD in the long term could be the fact that many people do not understand or they simply do not know the function of it.
Just like @geekgirl said:
Well, if I could know who and why if they are interested in the fact that the HBD goes up in price, I am Venezuelan and apparently this of the bomb (pump) and the pumpers has come supervened. Venezuelan content creators sell our HBDs to foreign markets, they pay us at the price at which the dollar is in Bolivares (VES), we benefited from this increase. I have my theory that it could be going through what I invite you to read my comments below. (I might make a post about this on Leofinance, it all depends on how accurate it is, or if I think that what I say is really interesting)
They own HBD or have a method by which they are earning HBD and want it to be worth more. Simple as that.