RE: HBD Partial Insurance with BTC - Proposal to Print 1M USD of Hive

[finguru]

Sounds perfect. Looks like the pegging mechanism of HBD works better than UST's. Maybe we can back HBD with a combination of BTC, Stablecoins, and other cryptocurrencies we think are best suited to the crypto culture we promote and support on Hive. Diversifying the insurance portfolio instead of relying on just one coin makes much more sense to me.

Posted Using LeoFinance ^Beta

Comments

[taskmaster4450le]

Sounds perfect. Looks like the pegging mechanism of HBD works better than UST's

There are some added features in place that are helping the peg. We also have security features in place that UST/LUNA doesnt have.

Maybe we can back HBD with a combination of BTC, Stablecoins, and other cryptocurrencies we think are best suited to the crypto culture we promote and support on Hive

Build out the use cases of HBD and there is no need to back up HBD with collateral. The goal has to be to make the collateral, not to use other things as that source. It starts with making HIVE as strong as we can.

Posted Using LeoFinance ^Beta

[finguru]

Thanks for the clarification Task. I think LUNA guys will learn how HBD is creating the stablecoins of stablecoins. :))

Posted Using LeoFinance ^Beta

[geneeverett]

This will fail just like Luna did. I hope we focus of growing hive itself instead of the his HBD dream of 20% interest and being stable. This mathematically won’t work. HBD being kept artificially around a dollar won’t work long term.