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.