I know the idea behind was a good try.
But.
It will never work if it depends on an outside value without connecting it close to that value.
It is not on-demand and has a high fee.
To get Hive back it needs 3 days.
Collateral coins work better, we saw that in the last crashes.
In general for everyone. HBD is debt that the network doesn't pay back if it's more than 10% of MC.
I read "Risk-free Stablecoin" lol.
High 10% APR ( ok that's cool, but would never work with a collateral one without someone pays the fee, only trading fees can make that happen and sustainable)
Fuck you Urun FUD spreader!!!!!!!!!!!!!!!!!!!!!!!
But you know I'm right.
The people don't know, I'm sorry for you :)
I love the idea of a decentralized stable coin. But it needs to be stable. I would never use HBD to hold larger amounts.
HBD remembers me to typical governments, we pay our debt as long it doesn't hurt :D
But wait, DAI doesn't work perfectly. True.
But better than HBD and with some smart improvements, it could work really well. Lock-up mechanics are key.
What is not to love?
If it is below the peg it converts at the peg, if it is above the peg it converts at .95.
This is free money, if you play the game.
Not 100% true ;D
If the Haircut comes into place and it would be for example 20% HBB/ Hive MC it would mean the converting would be cut by 50%.
Because the current level is 10%. Every HBD above that smaller the worth of the rest of HBD :D
In the worst case it starts a panic selling wave. I would start to buy at 0,3 to 0,4 :) I think risk/reward would be very good at this point :D
As long as the witnesses are profitable there is little danger of a default, imo.
If the haircut comes into effect, just hodl, it will go away at some point.
That's true :D
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I have not used shitcoin.Does it mean is costly like that for transaction
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Is HBD is better stable coin than SBD ?
both are not stable.
I would prefer a 7$ one, than the 0,90$ one as an holder :D
Please, if you are around, deal with your failing "witness" node first, instead of engaging in a chit-chat.