No Dude
This is all nonsense.
insane 20% APR
20% APR was never "insane" until UST collapsed.
Before then it was the STANDARD.
Nobody said it was "insane".
Second of all these depegs have not lasted longer than 3.5 days, so you're provably wrong about needing better conversions. The depegs happen before conversions are available as a direct result of flash crashing wiping out all liquidity on the market. There's been plenty of opportunity over the last week to get out at the $1 mark and anyone can simply do a conversions themselves if they want.
You people really think you can jump in here and talk about this as if depegs happen all the time. Well, they don't. And when they do it's like a penny so not even worth addressing. You guys never have any data to back up your claims. Ever. Like show me the data that proves HBD repegs easier before 20% APR. Doesn't exist because it's not real. Re-pegging is actually much better now than it was before high APR. I've been here since 2017 I know what I'm talking about.
Seriously did you even notice that HBD was $1 when you wrote this?
It's $1 right now what are you even talking about?
How much time do you think has passed exactly?
Hive is worth 32.4 cents on the internal market and 32.4 cents on the external market.
Uhm, maybe you didn't notice the link, but I'm the one working from the data instead of looking for data to fit a narative.
I look at the on-chain data and listen what it tells me, construct a narative from that that makes sense. And what it tells me is that community participation in re-pegging has gone down significantly. The lower the APR the higher the incentive for HBD holders to make money from participating in algoritmic pegging compared to locking their holding in saving, the more centralized the chian becomes and the more vulnerable to (as you observed) the centralized stabilizer running out of pegging strength.
While the stabilizer excerts a constant upward pressure, the reacivity of the stabilizer in convert operation has been relatively low. If you had looked at the actual data, you would have spottet that in terms of actual reacivity, @mika has likely done more in reestablishing the peg than @hbdstabilizer has. That is one account. Imagine the reacivity if the rest of the community had the incentive to participate.
As for time, what would you say? 3.5 days? nah.
Depegs seem to be getting longer and we should find ways to decentralize re-pegging. The most logical way is to either take away the incentive to put large amounts of HBD in saving, or to auto drop saving withdrawel time to zero days in case of a depeg.
But the important part isn't that we disagree, as we obviously do, the important part is that you were misrepresenting the HBD pegging related arguments about the 20% APR. The (main) argument isn't about extra $HBD creating downward pressure, it's about locked-in-savings $HBD being unavailable for algoritmic re-pegging, and working as an anti-incentive to community participation.
A screenshot from Coingecko?
Seriously man I don't have time for this nonsense.
If you don't even know how Coingecko aggregation works... wow.
Let me give you a little hint.
HBD has ZERO listings.
Not only is this market inaccessible to the entire world but it also has zero liquidity and a 2% spread.
This is not a "matter of opinion".
This is fact.
You're trying to show Hive depegged over 2% during times it is fully 100% pegged.
You don't know what you're doing.
Again I don't have time for this ignorance.
Figure it out.
Sure, stay in your buble and don't look at the actual on chain data that shows the actual problem because it doesn't fit the perpetual motion machine free lunch narative. There is no sense in trying to explain things to someone who has already made up their mind before having looked at the actual data.
But again, that doesn't even matter because my comment wasn't even about that, its OK if you disagree with the arguments or even if you dismiss the data that shows their validity.
My comment was about you misrepresenting the pegging argument against 20% APR, a subject that you keep ignoring.
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