Perhaps it is just my brain fog, but I'm still super confused as to how this works. The way you explained it, isn't it just transferring the same amount around and exchanging it back and forth to the same thing again?
Maybe I just need sleep. LOL
You are viewing a single comment's thread from:
They go to a market spend HBD to buy Hive that other users have offered for sell. Recently buying upwards of 50k hive from the market on a daily basis. Then they send the hive to hive.fund which converts the hive to HBD and the fund grows.
I think what is important to understand is the the Hive Blockchain considers HBD to be worth $1usd there is no price feed for HBD it's just assumed it's worth $1usd. It's people other places that for speculation or manipulation think it should be worth more.
Oh oh oh I think the word I wasn't catching was "convert." When you do the "convert" option, it's different than buying from the market, right?
Narf. Sorry. Brain fog. LOL
No, I believe @peakd mis-spoke. Because "convert" means the same as "exchange for" in the fiat world, it is easy to use that word instead of "trade." There is no blockchain mechanism for converting in this direction.
Ah, so now we see. The hive dev fund converts the Hive from the ninja stake to the HBD and has been doing so since the hard fork from Steem in order to fund projects in hive dollars.
Technically, Hive is traded to HBD, isn't it? Did HF25 already happen?
HF25 has not happened yet
However in a previous HF a long time ago the hive.fund account was allowed to convert and hive sent to it to hbd