One thing that one need to consider when talking about HBD is that it's actually going to sustain it's dollar-parity. As we see on that OTHER BLOCKCHAIN that shouldn't be named, their backed-dollar is all over the place regarding it's value.
!1UP
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If you look from a certain angle, this HIVE->HBD conversion and high interest on HBD savings may look like an exit plan for big HIVE bags. If that were the case, I think they had not spent this much time to adjust haircut.
That is true.
And how many have actually converted their HIVE to HBD? This is in place more than three weeks now and it seems the amount of HBD is the same (and most of that is still in the DHF).
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That is true. At this point, when I use the term stablecoin, it is with the presumption that the coin is actually stable.
As for that other one, no point in even focusing upon that chain. It has little use so people on Hive ought to act like it doesnt exist.
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I, personally, do trust the Hive Blockchain to keep up HBD as a stablecoin. But, considering that it has a kinda-convoluted way of working, I think that the majority of the investors won't see HBD as a true-stablecoin, but as a pseudo-stablecoin. Thus, with higher risks.
Why would the majority of investors see it as a pseudo-stablecoin? Algorithmic stablecoins are starting to gain a lot of attention. I think people will feel they are more stable than the ones that claim to be backed by assets yet nobody knows if they truly are. What is backing USDC? Nothing more than a claim, that cannot be substantiated at this point, that they have 1:1 backing.
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Which other Algorithmic Stablecoins are gaining traction lately? I want to take a look at them and see how each of them are working, to compare them with HBD!
UST...FRAX USD....
UST has been on fire.
And now everyone is rolling them out.
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That chain has no stablecoin, just volatile assets depending on billionaires market manipulation.
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