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RE: HBD back above $2 - Are you using the opportunity to increase your Hive Power?

in LeoFinance4 years ago

Yeah I see the unintentional benefit but then my point is that clearly the price of HBD isn't in the control of anyone or any patchwork within the Hive blockchain.

That makes the system broken or simply inferior and easily manipulatable.

On steemit there's a similar view to your post. That high SBD gives opportunity for Steem accumulation and buy pressure that then should raise the token value.
https://game.dclick.io/posts/@jrcornel/are-sbds-the-best-way-to-pump-the-price-of-steem

The problem however is that it's not stable and similar to property bubbles when lending runs rampart, the crash comes and it's all worthless again because the increase in value wasn't due to the system strengthening but actually by a broken system.

I thought that the 'backed dollars' system was meant to work the opposite way. Hive token increasing in price that would then convert into a stable dollar multiplied by the amount of times Hive has gained on dollar value.

So then users could hold Hive long term and then cash out HBDs for living expenses and to also purchase things on that marketplace that never eventuated. That's what I thought @dan planned all along. What is he up to anyway. Where did he fade away into after EOS kicked his hippie ass out? He really should see if he can make something substantial of this fork of steem.

Overall point: Hive needs big moves to become anything other than 'a steem fork' which is why price is always lagging on steem and trade activity a play toy of the Koreans.