RE: Hive Haircut Rule: Will It Ever Need To Be Changed?

At the present market cap of roughly $151 million, we could have 45 million HBD in circulation.

Actually, the cap on the HBD in circulation would be 64 not 45 million. To estimate this number you have to divide the market cap by 0.7 (100% minus the debt ratio). Then the difference would represent 30% of the potential virtual supply and the actual hive supply would represent the other 70%.

You just have to remember that the debt ratio is in relation to the virtual supply and not to the current hive supply.