That yield was also manipulated up to 12% from literally 0% in the early days.
I also didn't agree with it being lowered... especially at the bottom, but on-chain metrics suggest that 15% is working pretty well, and 15% is still a good deal and totally worth it.
The yield is whatever witnesses say it is.
Those are the terms we have agreed to as a network.
It's actually an old system that's been in play since Dan wrote the code.
We only just now started using it.
To be honest, it feels like it wouldn't affect anything even if we gave 50%. Like we have a flat HBD supply this year. (Excluding the HBD in DHF)
No, I am not saying we should give 50%. It would be a terrible idea.
15% is not a good deal, it is an okayish deal. We say on the tin that you get 15%, but when you try to exit HBD a good portion of it just gets lost to slippage.
0% slip if you just convert the HBD directly into Hive over 3.5 days.
Over the last 10 years the S&P 500 made an AVERAGE return of 15%.
So to say that 15% is an "okayish" deal even though it's a guaranteed 15% with way less risk than the stock market... it's an amazing deal. It's so amazing people on the outside take one look at it and automatically assume it's a scam. That's how good it is.
Not really, there is still a chance you lose value even when you convert. You are not getting 1 USD worth of Hive at the moment of conversion, you are getting what witnesses consider 1 USD worth of Hive. (Also you have to sell that hive as well if you want to do something with that money, and voila what is that slippage you say.)
So realistically you get 12-13% which is okayish. I have a fund in Turkey that returns 18 to 19% currently. (Ofc, past performance is not an indicator yadda yadda)
Well, because they only see the APR that is written there and not what you actually get and I think they are right in a way.
Not really, there is still a chance you gain value if number goes the other way.
If the Hive token is higher 3.5 days later you get more than 15%.
It conveniently ignores what I said in parentheses. And I am talking about proper savings, not some measly 100 HBD. When you have to sell 20K, 50K, or 100K worth of Hive in USD, it is going to get eaten by slippage.
It is basically a "guaranteed"*** 15% APR. You can fill in the asterisks.
Now you are talking about a completely different thing.
Again, conversions have a net 0% slip depending on the delta between current Hive price and the 3.5 day average.
Liquidity on Binance right now show over $200k in liquidity without price moving down even a single penny.
Wait a little longer than 1 second and it's a lot more than that.
And you're talking about an amount that 99% of the users here aren't going to do and don't even have... let alone dump all at the same time.
What's next? You're gonna start talking about half a percent trading fees on Coinbase?
Also can be avoided with USDC conversions to USD.
I'm telling you and I'll tell you again, the slip is negligible and 15% yield is killer.
In fact the slip matters more on small amounts because people don't care about small amounts.
At this point we have a better track record than all the other bullshit out there.
I had, deathwing had.
This happened when I had to exit HBD, and the same thing happened when deathwing had to exit HBD. I am speaking from experience that that yield is just on paper.
Thank you for illustrating for me that it isn't a killer yield. If it was such a killer yield why 99% of users are not saving, why you are not saving if it is such a killer yield?
I have put my money where my mouth is, would you do the same or is this just paper posturing?
I love how you can be so brash and also agree with the point. I feel when chewing an idea, this type of feedback is valuable.
99 cents for edicted to chew on my idea? Subsidized by the reward pool of course.
Hm yes my brand is very... raw
No sugar-coatings here I suppose.
You get the black coffee response.