I've had a few explanations that I didn't agree with.
Apparently there is some sort of daily fund of 67,000 HBD being rewarded to the hbdfunder thing already, the comments were serving as extra funds to help stablize Hive.
I asked the question "why not just increase the daily fund proposal from 67k to 77k then?", and didn't get a response that satisfied me.
I've said throughout the years, we don't even need a stable coin on here for anything really. Something could be implemented where it just re-uses DAI or some other things that are already real stable coins with algorithms and market pressures/forces.
I don't think HBD is going away though, as nobody thinks it should who holds power.
Hive proposals could just be paid out in Hive, HBD isn't needed to do that. The argument I got against that is "Hive flucuates in price so a long term funded project might get too much or not enough", then they should get all the funding up front(like most projects do) instead of daily payouts and they should then sell that Hive on the market. Only allow a certain number of Hive proposals to be filled per week, so there isn't something crazy like 2 million Hive is minted in 1 week and other weeks mint out 200k.
If the total Hive proposal fund per year is say 50 million USD worth of Hive, then each week a max of 1 million can be used. A simple system that pushes people's funding from week to week could be made.
If someone requests 3 million in funding it will have a 3 week lead time before they get it. If 10 people each request 150k, then the people with the most vote backing will get it in week 1, the rest will carry over into week 2.
Like, I don't think I'm any kind of genius here, but I just solved this entire DHF proposal system within 15 minutes of thinking about it.
It's pretty easy to solve this issue as it has already been solved by many other real stablecoins, and for some reason people want a native stable coin on Hive.
I want a stable coin because my main reason for having any involvement in the crypto space is for it be a genuine alternative to Fiat before surpassing it and us having a global, decentralised and tokenised method of exchange for goods and services.
To most, crypto is simply wealth generation and a token to use to trade, thus affecting the price through simple supply and demand before turning profits into Fiat...when used that way it's no more than another contrived, Fiat based financial implement.
By having stable coins, we have useable Fiat alternatives without ridiculous fluctuations around which exchange and payment systems can be built.
Sadly, most people have no idea of the finer details of how any of this works so that leaves us needing to trust those that do.
Because of HBDs stability, we are already capable of paying out a whopping 12% interest on savings, that couldn't happen if it was not able to know exactly how much 12% was in real terms.
I honestly don't know what the best way to maintain the $1 peg, but in recent times, it's been held nicely and this is absolutely what's needed to be able to achieve my long term goals for crypto.
Yes, but HBD isn't needed in order for there to be a useable stablecoin.
The Internal Market only has one trading pair, HBD/HIVE. That isn't needed. There are already many ways of trading on a Dex or Swapping. Back then we didn't have that unless you did a centralized exchange.
I use Stablecoins all the time to the tune of tens of thousands per year, they are very useful.
There is currently no way to implement a truly decentralized exchange for HIVE apart from the internal market. Someone always has to custody the HIVE, which is centralized.
At some point maybe there will be a powerful enough smart contract system implemented on HIVE to make this possible, or maybe someone will figure out a clever method to do it another way, but for now, that's all we have.