Beyond the technical challenges of doing this in a way that is low trust, I think this is just a terrible idea in general. The Hive and HBD ecosystem should be trying to reduce its exposure to BTC, not increase it, and especially we should not be looking to have committees of trusted custodians holding crypto assets on our behalf.
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100% agree! Wow this didn’t age well….
I can relate to the techincal issues and the trust. But it the DHF funds it, then that is the process that we have for making decissions around here.
What would be the argument for reducing hive/hbd exposure to btc?
BTC is a high risk asset which already dominates the market, making Hive and HBD already highly exposed to BTC related risks. HBD already tends to break its peg at times when BTC price is crashing.
Also, Bitcoin is a ponzi scheme by proxy with minimal real utility compared to the market price.
Wow ... such a low score for btc :)
But the fact is that like it or not, the whole crypto market is impacted by btc... at least for now :)
Yup 🤷🏼♂️
