The truth is, I don't know a lot of HBD holders who hold their own HBD onchain. Seems like a lot of it is being held on exchanges, where the exchange is collecting the interest.
We'll see if and how that changes after the hardfork, which should stabilize the price of HBD and discourage speculation on it. That, combined with the increased interest rates being voted for by Hive witnesses, should encourage more people to keep their HBD in their local savings balance.
There's not even many exchanges which accept HDB(and none with another stable pair). I hope more exchanges decide to list in the future.
There are even some exchanges which "accept" HBD and then keep it. Ugh.
Whats the exchange to avoid?
Binance ,I guess
I understand binance is one (reporting what I've heard, have no personal experience), but any exchange that doesn't support HBD but won't send it back if you ask.
Oh, I thought you meant more like an exchange which showed they accepted HBD but didn't credit you for it haha. Not sending it back is scummy, but if its insanely low value, it probably might cost them more in manhour to send it back then its worth, I know Binance does recover assets that they support for a fee(had someone use that feature), but no clue on assets they don't support.
It's weird, in my five years on Steem/Hive, there has only been one interest payment I've been aware of. I'll check out that link you dropped to see if I can spot any more.
Thanks man.
Cg
At a quick check, I can see you got paid one on 2021-05-25 06:38:00. Unfortunately, it's not easy to find previous payments before the last one without using something like HiveSQL.
Right, I don't remember seeing it, does it just get automatically added?
EDIT: seen your other reply. Thanks.
Cg
With an onchain contract/ liquidity pool between Hive/HBD i think the coin would become much more stable and people want less likely to hold on exchanges.
Also, the 10% interest can be paid there, in the liquidity pool :)
I'll give it some thought after the hardfork.
:) perfect
Would be super cool because liquid assets would become a use case everyone would benefit from. And the 10% would end up in a much more useful way :)
I'm one of the few who keep an HBD savings, started a few weeks ago. 11HBD right now but better than nothing! Thanks for the work on it, will be good to incentivize the savings account.
Are there plans to give interest on hive held in there? Just curious.
Someone did suggest the idea, but I think the general consensus was that Hive already has a staking mechanism (power up). These are some of the anti-"Hive interest payments" arguments that I recall hearing:
Hive power already pays a variable base interest rate (it varies depending on things like overall supply of Hive/Hive power and the inflation rate of Hive, last time I checked it was ~3%) plus staked In addition, Hive power pays curation rewards for active voters (which easily yields an extra 8-11%). So an active hive power holder will typically earn around 14% APR (probably more given the curation rewards can compound weekly). In other words, if you want to earn interest on Hive, the current way is to power it up and earn by actively participating in governance of the network (by voting on posts and witnesses).
Creating a second staking mechanism for earning interest on Hive passively could also create a disincentive for Hive holders to power up, which means less hive power voting for witnesses, which would make it easier for one larger stakeholder to vote in their own slate of witnesses.
True, good point! We make enough hive with voting. Thanks for that.