IMO 20% too high for a three day lock. Happy to advocate for it temporarily to give hive best chance to meet its potential. But the sound thing to do is advocate 20% for a 6 month lock in. 3 day lock in at say 10% is better. (Obvs tech is not yet built for that).
Partial btc backing (say 1 mil worth of btc, 5-15% market cap) imo is great thing and will help bitcoiners view hive as more of a side chain than it already is. It’s essentially a hbd / btc liquidity pool that the hive chain printed up the liquidity for. I think it shows hive is very capable chain. Not many other chains could make that type of a power move
That is true. Certainly this was the entire premise of a bond tree. The numbers could vary but just to toss it out there: 10% for 3 day; 15% for 90 day; 20% for 180; 25% for 1 year and so on.
This is also true. But for this reason, I think Hive has the opportunity not to show Bitcoin but go after Bitcoin. In the world of collateralization, as a base layer, Hive has the ability to do something else very little can do. For this reason, we need to focus upon making HBD pristine collateral instead of supporting Bitcoin. In the end, the latter will end up doing well there (in fact that is what I think its ultimate role). In the meantime, Hive can do it better if we implement some of the above levels as you mentioned.
I am working on the ideas surrounding this and how we can replace a great deal of what takes place in the Repo market and with interbank lending.
Hive honestly can step in here if my calculations are accurate.
More to come my friend.
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Interesting!!
Btc as the pristine collateral layer is the current public perception. I’d argue using that maybe temporarily as a spring board to giving hive that status also.
Of course however, btc can never make a bond system. It’s economics just don’t fork that way ;)) hive can do that 1000%.
So yes maybe ultimately hive can achieve the pristine capital layer.
Hive is backed by the utility and network affect of its user base. While i believe in this fully. I see nothing wrong with using btc to partial back the hbd market with what the world (rightfully) currently perceives as the pristine collateral (btc).
If u see how many maxis are coming around to Luna, (since they have just made a large (centralised btc purchase) we can achieve a better effect of hive by doing that somehow, but with a multisig autonomous wallet.
Maybe drop partial btc backing at some point in the future once ppl see what hive is as its own pristine collateral. But we need to achieve this perception for hive, and I’m thinking a partial btc backing will assist this over time and speed up the process that hive is actually the pristine collateral, at which point we can move away from a partial btc backing and go free float
I get ur point tho. I think partial btc backing spring boards us to that point quicker. However if we can help ppl see that hive is infact the pristine layer earlier, I would fully agree with u that we don’t need any btc backing at all