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

in LeoFinance3 years ago

Yes this sounds gimmicky and speaks to the unsustainability i spoke about was inevitable for the hbd. hbd value should be backed by the network and confidence of the community period. However as you all aren't attracting enough people and value as you're not producing development and technology people really need. You have to use the success of something else but seeing that you making things this centralized.

Why not just use the same trusted witnesses as you say to back the hbd by actual gold. Since you going to trust them this far in such a centralized manner. When i talked about backing ideas like bitcoin myk and supporting it under the citizens dividend and getting a billion people on the network then using the billions of people to back the value of hbd etc., you all thought it was a dumb idea.

so now you all gotta come up with even dumber ideas like trying to back hbd against btc which may just do a complete crash tomorrow. You'd be better off backing it against the usd if you're being that wreckless and letting the american government hold you up.. you know you'd have some stability even if it's fake. you not going to have any actual idea of stability in bitcoin.

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