One of the main attributes of collateral is trust. At the moment, we have to do what we can to establish that for HBD. It was overlooked for so long that people either didnt know what it was or didnt care to. It was not that long ago that many were saying to just get rid of it.
Following hot trends is not a bad idea. The idea behind a great deal of what I am formulating and experimenting with different models revolves around us creating our own collateral. We dont back what we develop with collateral, we are that. However, in the meantime, we should do what helps to provide trust and confidence.
It is going to have to be a multi-pronged approach. Believe it or not, a lot of the stability, overall, from HBD will come from making HIVE a great deal more attractive.
Many fret the conversion of HBD being a threat to the stability of Hive. Actually, the way I envision things unfolding is for there to be little conversion in that direction. HBD is what will be desired/needed.
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This all sounds amazing, although, truth be told, a little over my head. I follow along really well until we start talking about bonding and time-locks and all of the other things that go along with it and how they would affect everything.
Two questions:
How many moving parts are going to have to be involved with this? I love the picture being painted about pristine collateral and what it could mean, but I am a little leery about getting too far ahead of our skis and having 60 different things that have to be coded perfectly and work together seamlessly. I'm not a coder so it may be much ado about nothing, but I would definitely want to see a very concise plan of the steps needed to make this all work. Not that I'd understand it. But I trust people I trust would and could make sure it's going to work.
My other question is what do you think the impact of this would be on HIVE itself? I get that the amount of money flowing into the ecosystem could be massive, but how much of an impact would that have on the Hive token itself? Would it just benefit from name recognition and spillover? Or would there be a financial incentive for people using the HBD stablecoin to own the Hive token as well?
I started to recognize the amazing power and opportunity HBD brings to the HIVE community a few months ago when the HAF started to get talked about and @taskmaster4450 started writing about it and HBD. This feels like it could be the perfect time to really go for this and bring HIVE to the masses. You guys are the brains behind this stuff. If you think it will work, I'm all in.
PS. I'm not one of those "intelligent" people that drop in with opinions, but I do try to follow along whenever possible. :-)
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