I've been saving up my HBD as I noticed we now get 10% by keeping it in savings. I was hoping that some of the dapps on here would start using it such as NFTShowroom but maybe they are waiting for the price to stabilize more? It would be awesome to be able to set a price on NFTs since hive's price has had wild swings in the past. Most likely just one of the many use cases of HBD in the future.
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Given that the supply is rapidly expanding to push the price back to $1, you would be better off selling at $1.28 (price as of writing) and buying back later when it's $1 again than holding in savings now. It will take nearly 3 years to gain 28% sitting in savings.
sell HBD for what? another stable coin maybe? I look more at the exchange rate between HBD and Hive and when that is above a certain level I buy Hive, irrespective of their prices, because I believe in Hive long term and I want to get as much as I can
If you believe in Hive, it's Hive you should buy. That's the equity token that can make gains from increasing demand for HBD.
People buying HBD as a 'stable' token should sell now for fiat or something else stable and rebuy when it gets pulled back to peg price.
I am buying Hive with HBD but I only do that when I can get 3 or more Hive per HBD. The people that are buying HBD I think are doing it because it's profitable under the collateral conversion system that has been recent implemented
That is not the case. It's profitable to convert Hive to HBD right now, not the other way around.
The people buying HBD are speculators holding it on UpBit. That is seen empirically: almost all of the supply is being held on UpBit:
Use of a stablecoin here, especially for legit art products like what can be seen on NFT Showroom, would/could give that platform a competitive advantage over many of the other NFT platforms. I too have been hoping this catches on. Using a token that fluctuates in value means those selling NFTs are not in control of their profit margin, which makes doing business inconvenient and way harder than it needs to be. One could ship merchandise to consumers/fans/followers/whatevers that comes with the purchase of an NFT for instance, but not without a stablecoin, because you can't ask $100 for a hoody one week, then expect to sell any the next week if the token value goes up making the hoody worth $200. You're either ripping the consumer off or putting them in a position to wait and not make a purchase until the value drops, which is just silly if you're expecting to sell merch. Or one could sit and adjust prices all day, and the next day, and the next day, and forever; micromanaging one's life to death leaving no time for, life. So yeah, the stablecoin HBD would solve some problems and offer more business opportunities for artists and content creators to explore.
To use for commerce more stability is required. There is a move to push the price down which expanding the supply will do. The challenge is that there is not a lot of HBD out there which means that it will fluctuate; not something you want.
I too hope that some applications start to take payment in it. That would give it more of a use case.
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