I'm curious to see if there's any large interest from the community towards a HBD/Stablecoin pair. I mean Bittrex already has the HBD/BTC pair but it would be great if they could list a HBD/USDT one too or Binance for that matter.
I've been using the Bittrex HBD/BTC based TradingView generated HBDUSD chart for reference, mostly to help set up trade alerts to notify me when the price is trading significantly below or above $1.
The HBD/BTC pairing has been proven sufficient so far and it's okay if you want to stack up either HBD or BTC. However, if you want to stack up HBD to trade in for stablecoin which ensures a stable portfolio without having to worry about the fluctuation of BTC when you move out of HBD.
If you want to trade this now you'd have to keep a check of when satoshi value of HBD is below $1 to move your stable coin -> BTC -> HBD and vice versa. Even if you didn't care for the process, at the very least you end up paying fees twice to the exchange which I always find a bit unnecessary. Remember, any fees we save is a gain for us.
Also, with Binance acquisition of major Indian crypto exchange WazirX, you can move USDT between these two exchanges seamlessly for example.
Personally, I think it's about time we had a HBD/USDT pairing. USDT despite being somewhat controversial remains widely used in many geo locations around the world. It's a great on-ramp in India as well. I think a HBD/USDT listing on Bittrex or Binance would be very welcome.
I also feel being in the crypto space you have to protect your capital and portfolio value at all times. This is largely possible only when your assets hold a stable value especially at times when you don't want to trade them.
Many users hodl HBD in hopes of selling it at over $1. A stablecoin pair IMO will certainly help make this easier.
I'm curious to know if there's a greater interest from the community for a HBD/Stablecoin listing and hence this post. I'd also like to know if you think we don't need a HBD/stablecoin pair in the first place and what your arguments for the same are as well in the comments below.
I'd like to see a stablecoin pairing, but would prefer USDC over USDT given some of the sketchy things in Tether's past. IMO need to add other mechanisms to stabilize the price action as well; maybe allow the same 3.5 day conversion from HIVE ---> HBD instead of only one way from HBD ---> HIVE. We should also look at the 10% figure required to trigger the haircut and consider raising it so extra HIVE is not printed when the price action is already low, putting further selling pressure on HIVE. I would be curious to see the effect of a 15% or 20% figure of HBD/HIVE market cap before haircut triggers.
Those are some good points. I am all game for whatever it takes to reduce HIVE's inflation and providing more use cases for the main token. HBD adds to the confusion for most users especially new ones and if this chain has to do what Steem failed to do (ie., go mainstream) then it will need more simpler-to-grasp mechanisms for mainstream audience.
Most of the time that hbd/btc tend to confuse many. That usdt is much more easier to understand for me if it is been used
Indeed! Stablecoin pairing is a must for HIVE and HBD.
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I am also thinking to have hive + HBD both in equivalent ratios if possible
That's great :)
i personally like trading against USDT due to the fact that, its straight forward and doesnt require too much calculation. I will love to see USDT/HBD exchange pairs
Indeed! It's easy for everyone to trade on a stablecoin pairing generally speaking. Especially if they are new to crypto.
I would prefer HBD/ USDT. The reason for it is that if I am going to sell HBD it is just to cash out because I know it will be very rare for HBD to go beyond $1 though there are exception. If I would have to use HIVE I will just convert HBD to HIVE.
Indeed. It makes total sense.
always stable coin for me. I get confused trading crypto/crypto as it up and down all together most of the time :)
Hey! Great to see your comment.
Yes, many deal with similar issues and even my preference is towards a stable coin pairing. Many people i've met through Steem over the years have mentioned about the lack of a stable coin pairing for SBD and now on Hive we really need to get a HBD/USDT listing done soon.
hbd/btc
Just goes to show how ridiculous SBD/HBD is that this is even a question.
#EliminateHBD
Yeah, I've always preferred having just one token myself. All SBD and now HBD has ever done is confuse the hell out of normal users not well versed in blockchain functions.
Both HBD/USDT and HBD/BTC
@bittrex has this for a week already.
It will be the stablecoin for me as it is just going to be easy to exchange for fiat money abs it also is pegged unlike btc which is known to be unstable.
Hey, remember to update your pricefeed.
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Personally I see that the two proposals are possible for me, it depends on the value of bitcoin..when it is falling I use HBD / BTC and HBD / USDT in reverse because its value is almost stable.
This seems to be a good strategy, right? @firepower
Yeah that's good, also you can always sell HBD for BTC when BTC is in a sustained uptrend and still benefit by selling BTC later for fiat or ofcourse when BTC is dumping and HBD is high. But chances are when BTC dumps HBD will also drop not only in sats but also in usd value. HBD/USDT works great in other use cases. :)
Thanks for your advice..
Great post Sir
Go ...go... HIVe
And I love❤ HIVE
Thanks but do you have an opinion on the topic im discussing here? If you do, kindly share.
In my opinion if HBD / USDT rather than HBD / BTC if available or both, that's a good idea.
And this will make HIVE a platform that will lure investment investors.
And that is very good for the future development of HIVE.
But that is just my personal opinion.
Thank you Sir