Checking my wallet this morning I now see that the HBD interest rate is now 5%! After reading @smooth 's proposal and explanations why I did think how long it would be before other witnesses caught up and changed it, and now a bit of consensus has occured as show below!
One point that was made that I feel was really important being this;
Although we can't know for sure, it is likely that some of the demand for HBD is now coming from people who desire a reasonable rate of interest and price stability, rather than unstable "pumping" (this further helps stabilize HBD because such holders are more likely sell if HBD substantially appreciates, and then reenter back near $1).
I have always been a bit baffled at why HBD seems to pump well beyond a "reasonable" price and it seems like this could be a serious contender. HBD is a good coin to be in regardless due to the fact that it is technically #difficult for it to drop below $1 making it a good hedge, which I imagine is one of the reasons why it ever does exceed $1 , as well as what others have mentioned on here like low circulating trading volume etc.
The upcoming hard fork will focus the HBD interest function onto "savings", making HBD interest into a form of staking reward.
This is very important and again takes pressure off HBD selling therefore helping to maintain the peg, ASWELL as the 3 day withdrawal period makes actually keeping that sweet peg all the more feasible.
The more demand for HBD we can attract, the more HIVE can be removed from circulation, and the more exposure we can bring to the entire Hive ecosystem.
Very important point, and as said the DAO has worked beautifully to this effect, with alot of thanks to @smooth 's work on the @hbdstabilizer protocol and anything that aims to further take HIVE off exchanges or transmute HBD buying into HIVE buying is a brilliant thing to happen in my book.
As a interesting side note, my main fiat currency is GBP (£), now transferring it into USD I may lose 0.1% using a interbank provider like Revolut but even still the best interest rate accesible to me in this moment in time is around 4% (I believe and even then it would be difficult to open with multiple barriers to entry, proof of income and large income must come in otherwise the % rate is sanctioned)
Essentially even attempting to convert back and forth between USD and GBP the highest rate I could acheive is a mere 4%, meaning that HBD savings is now giving out more interest than all UK banks combined! It is just facts like these that as smooth said make HIVE an even more attractive place to people than it is already, and I don't need to tell you all the good things about this chain as I'm sure you already do, but it is things like this that will make others outside the chain believe in it as much as we do.
I have trade HBD on the blocktrade market. I am glad to see this stability returning on the chart. It will signal holding response.
Definitely looking all good!! Big !LUV
@oadissin, you were given LUV from @blockchainyouth. Info: https://peakd.com/@luvshares or check wallet: https://hive-engine.com https://ipfs.io/ipfs/QmUptF5k64xBvsQ9B6MjZo1dc2JwvXTWjWJAnyMCtWZxqM
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Does this mean we have to move the HBD into savings in order to get the 5%?
It says "HBD interest rate: 5.00% APR (as voted by the Witnesses)" in both the HIVE DOLLARS and the SAVINGS area.
Where's that? I've seen nothing approaching that in the UK? 😁
Posted Using LeoFinance Beta
I think the best I found was a 4% no access account first direct I believe!
I haven't bothered to check for a while but just taking a quick look at money saving expert it looks like there are a few better interest account available that weren't there when I last looked. I'll have to have a proper look. Thanks for the heads up. 😊
. . . Having taken a closer look nothing much has improved after all. 😂
Posted Using LeoFinance Beta
U.K. interest rates have always been bad it’s terrible when you look at some across the pond!
And yes I do believe post hardfork you will only receive interest on the savings account, is this correct @smooth ? !LUV
Yeah. I read another post that seem to be saying that. It would be good to get a firm confirmation though.
Posted Using LeoFinance Beta
Correct
@gillianpearce, you were given LUV from @blockchainyouth. Info: https://peakd.com/@luvshares or check wallet: https://hive-engine.com https://ipfs.io/ipfs/QmUptF5k64xBvsQ9B6MjZo1dc2JwvXTWjWJAnyMCtWZxqM
Hello @blockchainyouth , I saw you have some TLNT tokens but not enough to get rewards from the club. I'm wanting to buy it from you... I'm paying 0,012 for each TLNT
Congratulations @blockchainyouth! You received a personal badge!
Wait until the end of Power Up Day to find out the size of your Power-Bee.
May the Hive Power be with you!
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Check out the last post from @hivebuzz:
Congratulations @blockchainyouth! You received a personal badge!
Participate in the next Power Up Day and try to power-up more HIVE to get a bigger Power-Bee.
May the Hive Power be with you!
You can view your badges on your board and compare yourself to others in the Ranking
Check out the last post from @hivebuzz:
Hey @blockchainyouth
I noticed that you haven't posed in a while but I'm letting you know anyway as promised that the new level of the @upvoteshares project has become available. https://hive.blog/hive-167922/@upvoteshares/upvote-shares-level-27-available
I hope you are well, cheers