HBD Interest Payouts For June 2022

in LeoFinance3 months ago

junehbd.png

Hello Hive & Welcome July!

June has been super busy month for me. My blogging has been almost nonexistent. Last week, Hivebuzz was kind enough to remind me it has been five years since I joined this decentralized network. Time never stops and doesn't slow down. It has definitely been amazing journey to be part of decentralizing the web for the last five years. I was planning to write a post summarizing all awesome memories, achievements and benefits of these five years on Hive. But wasn't able to do so, due to deadlines on some other projects I had to complete. And the work done will hopefully free up more time in coming months for me to be more active on Hive.

It has become a routine of mine to check the HBD payments for the previous month at the beginning of the new one. Just because I am interested and invested to see the progress of HBD. HBD coin and system is a one of the unique features of the Hive blockchain. It has a lot to offer in Web3 world and is different from other stablecoins in the crypto world in positive ways. This has been becoming more clear during this bear market and troubling news about other stablecoins and crypto lending platforms.

UST is an old news. But it looks like other stablecoins like Justin Sun's new USDD has problems as well. Crypto and scam detective youtuber, Coffezilla has conducted a thorough investigation and posted an informative video titled The Next LUNA Ponzi Scheme. Free free to watch it yourself following the link below:

Main takeaway from the video was that, while the USDD has reached high market cap and nearing billions dollars, 94% of these coins were minted by Justin Sun himself. This number alone, once again shows the deceptive tactics and ill-intentions. Part of this scheme as Coffeezilla suggests could be to offload tron coins Justing Sun has while not affecting the price of the tron itself.

In other news we have seen how crypto lending platforms like Celsius, BlockFi, and others having financial troubles. There was a time I considered using BlockFi for dividends on bitcoins deposited. Now I am glad I decided not to do that. I hope these companies resolve their issues come out of this bear market stronger. This too has proven the importance of self-custody and having full control over crypto assets.

Failure and/or problems some of these stablecoins and crypto investment platforms facing seem to be a result of bad design, green, and/or ill-intentions. That also makes me/us ponder upon HBD and the potential problems it may have in the future. So far, I don't see any of these issues or symptoms for HBD.

HBD is not the core feature or function of Hive blockchain. It's purpose is secondary or complimentary for what Hive offers. Hive offers decentralized standards and solutions to the web, e-commerce, social networking, gaming, and community building. In addition to all the tools Hive offers for builders, it also provides solutions for financial transactions. If you are building an e-commerce platform, educational platform, social media, games, etc, having native financial transactions system is a big bonus. Especially when this system utilizes something that is familiar, a USD equivalent of a value. Add to this fast and free transactions, it becomes a no brainer how useful HBD is as a peer-to-peer payment system.

There are challenges for HBD to be widely adopted as a payment system. These challenges have nothing to do with HBD itself. They most like have to do with laws and regulations in various jurisdictions. Merchants have to take into account bookkeeping and tax obligations for every transactions. As more and more jurisdictions open up to these new technologies and provide clarity for conducting business, some of these challenges will be overcome. There are other challenges as well, like the size of the Hive network itself. Hive network will have to see significant growth for merchants to consider adding HBD payments in their online or physical stores. There is however no doubt how beneficial this can be for both merchants and customers. Payment finality, zero fees, and USD peg will be very useful.

Another use case for HBD is as an investment and savings instrument. Hive continues to pay 20% APR, and HBD holders can compound these interests every month. Even those many coins have seen significant drops in prices, HBD remains to be stable and pegged to USD. Super impressive! Unlike other stablecoins HBD has an adaptable design. It has protective measure that keep both Hive network and HBD secure. APR rates can be changed or removed easily and a timely manner if witnesses detect potential risks or issues.

Just few days ago Hive prices started going up for no reason, or reasons I have no idea about. At first I thought, some deep pockets must have discovered HBD. Probably not, and perhaps that was just some random speculations in the market. If you know the reason, let me know in the comments.

Now, let's take a look at numbers. Sorry to report nothing exciting here. In June Hive paid out 55,929 HBD to total of 2,253 account. These numbers dropped a little bit compared to May. If I were to guess, I would say some may have chosen to take advantage of low crypto prices and were more interested in other coins. There are so many options to buy these days. I also wanted to buy Hive, btc, and ltc with my HBD in savings and started the withdrawal. But changed my mind the next day and decided to keep HBD in savings as a hedge. At least for now.

Total HBD Interest Payments & Accounts By Month

MonthYearTotal AmountTotal Accounts
March202110,429 HBD6,415
April202112,208 HBD7,106
May202116,574 HBD7,250
June202138,883 HBD7,167
July20211,696 HBD682
August20215,646 HBD1,062
September20212,570 HBD1,129
October20214,914 HBD1,239
November202110,931 HBD1,482
December202119,004 HBD1,655
January202219,740 HBD1,843
February202214,775 HBD1,654
March202226,506 HBD1,827
April202235,223 HBD2,357
May202266,025 HBD2,471
June202255,929 HBD2,253

Mika continues earning the highest HBD interest rewards. Smart! Let me know in the comments if you made it to top 300 HBD interest recipients lists in June.

Top 300 HBD Interest Payments For June 2022

#NameAmountDate
1mika13086.3732022-06-08 11:38:33
2muenchen3314.0682022-06-11 16:59:39
3shitposter3006.1112022-06-28 05:26:45
4p-hbd2545.3272022-06-27 16:39:03
5parkman1435.5332022-06-06 02:18:51
6vaultec1012.5852022-06-04 15:43:42
7feruz907.4252022-06-18 08:17:54
8piggybox-002875.3942022-06-06 03:38:57
9lucius.banda792.7382022-06-26 14:54:33
10investegg769.7532022-06-10 16:32:03
11foreveraverage669.9362022-06-26 21:33:15
12chewsk1626.5902022-06-16 20:17:36
13organduo618.6102022-06-03 07:05:12
14piggybox-001579.5412022-06-03 07:34:54
15hbdsavings532.3992022-06-01 09:41:09
16ehon493.2272022-06-13 11:35:51
17cryptonized466.4472022-06-17 08:34:27
18prinzvalium396.8362022-06-04 07:02:27
19eonwarped389.4722022-06-29 17:31:51
20paleking366.9792022-06-26 16:00:57
21pharesim365.4362022-06-06 14:29:15
22magicmonk349.7242022-06-13 06:52:57
23silentscreamer344.2742022-06-11 07:13:39
24inertia336.9522022-06-17 03:23:33
25x30320.1182022-06-29 12:14:45
26onthewayout317.3862022-06-29 22:46:42
27yunnie316.9892022-06-06 02:33:00
28stoodkev308.6722022-06-14 15:25:24
29eliel306.8432022-06-15 14:38:48
30thevenusproject302.4822022-06-14 15:44:57
31lordbutterfly294.4532022-06-15 09:20:18
32sm-silva268.4952022-06-26 00:00:15
33oflyhigh265.6152022-06-22 11:40:51
34hivefest258.7802022-06-14 05:22:54
35slobberchops258.1792022-06-09 16:25:42
36konvik-cold250.7892022-06-19 15:28:45
37nuttin248.7372022-06-01 01:07:21
38chandpur243.0132022-06-28 08:07:03
39dfund219.6832022-06-17 02:02:30
40loanshark219.6742022-06-17 02:07:06
41coinmint217.9152022-06-12 07:15:00
42taskmaster4450le206.5002022-06-20 23:27:09
43namelessnameless202.2682022-06-16 19:39:57
44goldstreet197.3532022-06-30 02:16:06
45krasnec194.4782022-06-18 18:52:45
46hiddenblade183.6012022-06-05 18:05:39
47eidolon180.8792022-06-23 19:02:39
48raiseup178.7102022-06-20 12:10:51
49watchlist156.2062022-06-19 04:58:21
50hiveauth156.0392022-06-07 17:45:48
51d-pend152.7272022-06-14 14:44:51
52dwayne16150.2002022-06-15 09:26:27
53borislavzlatanov147.7272022-06-06 18:57:30
54seed-treasury144.7952022-06-01 11:33:57
55peakd140.8662022-06-23 13:39:42
56cryptosimplify140.3982022-06-13 21:20:54
57solominer.stake128.8172022-06-11 16:15:15
58deanliu127.8372022-06-15 10:35:09
59deepresearch126.8162022-06-19 13:00:51
60teammo124.7032022-06-16 13:51:06
61achim03122.8692022-06-23 11:00:39
62belemo122.8222022-06-04 18:49:12
63lunaticpandora121.9872022-06-04 18:31:24
64walterjay119.9802022-06-08 08:16:51
65rival119.9512022-06-22 08:22:45
66yogajill117.6762022-06-15 19:14:48
67hrichakar117.6522022-06-18 13:53:18
68trumpman113.6972022-06-13 05:14:15
69geekgirl112.9762022-06-17 21:17:21
70city-of-dresden112.3542022-06-12 17:53:51
71scottcbusiness109.3792022-06-09 17:59:24
72keychain104.7382022-06-21 08:14:36
73chesatochi104.1472022-06-25 11:47:09
74photofeed95.9702022-06-06 11:12:36
75meesterboom95.8612022-06-16 15:16:03
76holoz0r95.4712022-06-06 03:28:06
77spinvest95.3332022-06-29 11:44:12
78yann097594.2152022-06-16 19:08:57
79thelittlebank92.3772022-06-01 19:23:15
80r00sj389.5972022-06-19 19:30:21
81seraphim50289.5842022-06-29 06:26:42
82schlees89.5302022-06-28 08:51:12
83hivecreators89.0172022-06-09 14:57:36
84risingstarhub88.7012022-06-11 16:41:48
85maxsieg86.5112022-06-18 12:03:51
86hivevault84.4512022-06-10 20:21:27
87piggybox-00484.1992022-06-18 14:06:42
88balaz82.7172022-06-26 06:25:06
89neoxian80.5002022-06-20 20:09:30
90detlev77.6502022-06-06 13:14:21
91richie.rich74.2542022-06-05 15:32:39
92muterra73.6442022-06-27 09:46:33
93mistakili73.5682022-06-14 10:13:30
94silverstackeruk73.5072022-06-17 10:39:48
95piggybox-00372.1962022-06-02 11:25:15
96pandasquad71.9272022-06-12 19:33:24
97endaksi171.6602022-06-13 08:20:51
98bozz71.4132022-06-02 16:21:06
99rezoanulvibes71.0622022-06-04 08:41:27
100dalz70.4812022-06-13 06:44:15
101fundacja70.0982022-06-09 23:01:54
102johnhtims.life68.8672022-06-01 16:52:06
103martibis68.5382022-06-04 07:40:33
104pouchon68.1742022-06-27 08:15:30
105beststart67.7912022-06-16 18:02:24
106steemvault67.5672022-06-10 20:20:06
107tzofiah66.6432022-06-09 12:00:57
108steemychicken166.5952022-06-29 20:24:03
109peak.fund65.8842022-06-14 20:04:45
110marthaehinome65.5122022-06-14 20:42:36
111nostalgic121264.8382022-06-14 00:39:45
112guiltyparties64.6902022-06-14 02:18:30
113brumest63.9142022-06-04 13:06:48
114taskmaster445063.2782022-06-03 01:11:12
115neumannsalva62.9852022-06-14 14:11:03
116cryptog33k62.2572022-06-20 12:21:12
117vimm62.2162022-06-17 18:43:45
118lemouth61.9572022-06-06 18:50:51
119ironshield60.9362022-06-26 14:32:00
120vevette60.7342022-06-04 07:21:57
121niallon1159.0492022-06-27 09:58:36
122blrog57.4622022-06-11 12:48:57
123communitybank57.3652022-06-10 20:10:15
124ipromote56.8532022-06-27 19:43:36
125steemflow56.3542022-06-20 07:41:36
126crimsonclad56.2392022-06-06 16:36:09
127uadigger55.1122022-06-04 12:06:48
128michelmake54.6912022-06-25 18:10:27
129riverflows54.2072022-06-17 01:26:42
130ewkaw53.7812022-06-17 23:23:12
131sketch.and.jam51.3662022-06-27 23:29:12
132blockmine51.2562022-06-28 18:48:12
133primersion50.8232022-06-03 09:23:57
134hivestorage49.4412022-06-08 05:42:36
135r351574nc349.3922022-06-19 06:53:18
136kenny-crane49.0692022-06-29 04:21:15
137r2cornell48.7282022-06-06 20:28:00
138nbs.gmbh48.3862022-06-12 19:15:18
139livinguktaiwan47.7912022-06-20 17:33:51
140osak46.8192022-06-18 18:55:45
141zedcell46.6322022-06-30 15:04:12
142cflclosers45.6922022-06-10 00:27:27
143fredrikaa44.6612022-06-04 10:16:09
144vincentnijman43.7812022-06-17 12:40:21
145grindle42.9922022-06-16 08:51:24
146engrave.cold42.8992022-06-07 10:59:09
147hallmann42.8482022-06-19 22:55:57
148techcoderx42.7972022-06-13 01:10:21
149anarcist6941.6232022-06-22 02:15:03
150condeas41.6042022-06-03 22:03:30
151monochromes41.5482022-06-22 13:21:06
152tipu41.0202022-06-16 22:11:42
153irenenavarroart40.2612022-06-13 23:03:24
154powpo39.9482022-06-06 04:56:45
155hivebank929239.5092022-06-21 06:19:45
156genesishealthy39.4912022-06-18 03:13:54
157uwelang39.2222022-06-05 07:51:54
158hermes.apocrypha38.8802022-06-29 17:49:30
159nuthman38.1132022-06-15 20:50:18
160catinthewindow37.7402022-06-07 07:54:39
161deeanndmathews36.9732022-06-03 06:48:33
162leaky2036.6672022-06-28 10:21:48
163bulldog120536.3882022-06-20 17:48:00
164winniex35.9312022-06-01 02:33:39
165shitsignals35.5532022-06-08 04:39:06
166fedoraonmyhead35.3982022-06-19 03:56:03
167behiver35.1862022-06-26 16:56:30
168sanjeevm34.9902022-06-14 05:50:15
169hakeke34.8312022-06-09 11:08:54
170kheldar1982a34.7352022-06-14 21:52:18
171thebeardflex34.3312022-06-25 19:32:12
172contrabourdon34.3082022-06-12 06:00:39
173revisesociology33.9682022-06-30 05:53:48
174adambarratt33.9322022-06-16 09:19:09
175investingpennies33.7892022-06-10 20:20:39
176beta50033.7832022-06-10 20:22:15
177mariannewest33.7402022-06-02 20:11:21
178deegramofficial33.5962022-06-26 13:25:00
179gohive33.1982022-06-08 23:22:33
180toofast-ace32.9282022-06-09 13:54:33
181fat-elvis32.4492022-06-17 15:08:57
182josediccus32.1842022-06-11 05:21:36
183joshman32.0582022-06-27 19:11:18
184wrestorgonline31.8732022-06-20 23:42:24
185theb0red131.8722022-06-07 06:16:18
186mrspointm31.8042022-06-29 23:42:42
187abbak731.5172022-06-20 18:45:45
188vermithrax31.3962022-06-04 18:19:12
189naomish31.3252022-06-09 12:01:30
190ruthsh31.3252022-06-09 12:02:27
191fermionico31.1342022-06-26 17:11:45
192rishi556.engine31.0522022-06-17 01:13:42
193thegaillery31.0032022-06-09 23:57:45
194kolbjorn30.7962022-06-06 08:28:12
195orlandumike30.6292022-06-07 20:22:42
196mathowl30.5322022-06-01 16:40:21
197bdmillergallery30.4452022-06-23 00:08:21
198shaunmza30.3352022-06-14 19:21:45
199ragnarokdel30.2042022-06-03 00:48:42
200louis8829.6822022-06-09 11:42:42
201photobook29.5882022-06-09 10:12:03
202choism29.4222022-06-14 23:02:09
203hive-17458129.2472022-06-15 08:26:30
204homesteadlt29.0842022-06-05 06:40:18
205nftmart.wallet28.8602022-06-15 01:40:27
206holoferncro28.7702022-06-30 09:15:03
207skenderbeu28.5922022-06-02 23:25:18
208alexaivytorres28.5492022-06-06 14:30:54
209urun28.3682022-06-22 03:13:39
210bit4bit28.3072022-06-13 10:18:27
211muratkbesiroglu28.0212022-06-22 08:26:33
212anneadam27.0992022-06-11 19:39:54
213danmaruschak27.0482022-06-08 11:12:15
214sourovafrin26.8832022-06-28 05:44:18
215toofasteddie26.1372022-06-29 20:42:42
216celestal25.9072022-06-21 14:03:45
217youtuberin25.8702022-06-24 05:39:51
218gadrian25.8332022-06-07 06:12:15
219danielhuhservice25.6692022-06-13 18:05:06
220papilloncharity25.6222022-06-19 20:03:42
221mangowambo25.1502022-06-27 15:28:18
222alexvan24.9622022-06-09 20:19:18
223xplosive24.6602022-06-30 14:41:39
224gwajnberg24.6472022-06-27 16:01:45
225dedicatedguy24.3172022-06-19 20:06:24
226offgridlife24.3072022-06-08 17:20:57
227jznsamuel23.6652022-06-07 23:42:33
228mrpointp23.4992022-06-29 23:43:24
229choogirl23.1142022-06-06 19:59:45
230abdex922.9462022-06-02 18:17:54
231jedigeiss22.9242022-06-19 20:24:54
232sandymeyer22.8562022-06-26 11:52:51
233dera12322.7392022-06-17 22:08:36
234obsesija22.5372022-06-24 00:24:24
235zokka8222.5232022-06-19 09:11:42
236luislrt22.3732022-06-30 01:11:27
237arcange22.1922022-06-20 13:03:48
238bhattg22.0282022-06-06 15:53:06
239curangel21.9722022-06-06 14:33:21
240crypt021.9222022-06-23 21:22:51
241epic-fail21.4482022-06-14 02:52:54
242xg402821.4022022-06-11 05:53:33
243montanita21.2502022-06-20 11:37:24
244creativemary21.0512022-06-20 11:32:03
245archon-gov21.0132022-06-20 14:39:57
246c0ff33a20.9632022-06-25 10:46:12
247neoxian.alfa20.9502022-06-26 22:54:00
248mproxima20.8732022-06-05 15:27:51
249lovequeen20.7712022-06-10 08:28:21
250stevieboyes20.5832022-06-27 09:19:27
251tomhall20.2512022-06-16 20:44:54
252jaster19.8132022-06-27 02:17:33
253dante3119.7612022-06-12 09:32:39
254eforucom19.7372022-06-14 17:22:39
255robinron19.6752022-06-26 13:09:21
256priyanarc19.2772022-06-06 14:48:42
257yole19.0502022-06-04 01:13:27
258kargul0918.8182022-06-27 14:57:06
259albuslucimus18.7962022-06-08 14:07:18
260darkflame18.5452022-06-21 21:11:51
261soyrosa18.4632022-06-06 20:45:21
262vcclothing18.3192022-06-30 03:49:18
263anderssinho18.2682022-06-26 13:42:18
264khan.dayyanz18.1752022-06-20 10:22:27
265wwwiebe17.8062022-06-15 14:59:57
266guurry17.5682022-06-15 14:03:12
267andyjaypowell17.3942022-06-01 08:22:30
268gabrielatravels17.3742022-06-26 06:19:27
269adamada.stem17.2872022-06-23 00:37:12
270shimozurdo17.2772022-06-09 20:11:18
271juecoree17.2452022-06-09 03:15:21
272galberto17.0842022-06-12 03:03:48
273reiseamateur17.0542022-06-15 19:33:48
274rodrook16.9722022-06-04 02:08:57
275kendewitt16.9192022-06-26 07:26:18
276hivesql16.8102022-06-08 17:45:54
277mammasitta16.7362022-06-07 21:22:51
278julian201316.7032022-06-16 11:50:51
279doze16.6732022-06-23 16:08:30
280diehardknocks16.6002022-06-28 02:59:30
281unorgmilitia16.5522022-06-22 22:17:06
282generikat16.5032022-06-01 01:42:06
283paxjulia16.4832022-06-21 17:56:18
284baibuaza16.4372022-06-01 01:58:24
285merthin16.3952022-06-14 09:50:39
286dandays16.2892022-06-08 06:53:18
287juliakponsford16.1972022-06-30 17:14:09
288ericvancewalton16.1582022-06-01 00:55:03
289blueeyes896015.8682022-06-20 14:55:42
290straykat15.8042022-06-08 23:58:00
291sponge-bob15.6552022-06-09 00:49:24
292empress-eremmy15.6302022-06-13 05:17:09
293spi-steemcity15.5152022-06-19 05:33:42
294bil.prag15.5012022-06-11 03:05:30
295eturnerx-honey15.4992022-06-15 22:53:57
296erikklok15.4422022-06-27 19:42:36
297jongolson15.4182022-06-03 17:31:42
298garlet15.3382022-06-04 20:12:30
299eisenbart15.3212022-06-25 10:24:18
300nonameslefttouse15.0722022-06-14 16:35:51

Posted Using LeoFinance Beta

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You made a big mistake. You have a video saying that 20% interest for stablecoin is an indication that a platform is a ponzi scheme on your post about the 20% interest on HBD.

I compared this report with your May Report.

It appears that some of the large accounts dumped a big portion of their HBD holdings when HIVE dipped below $0.40 last month. They converted the HBD to HIVE which increased the downward pressure on HIVE.

The video you published calls this aspect of stablecoins a "death sprial."

It is best not to put a video that uses terms like death spiral and ponzi schemes in posts about the 20% interest on HBD.

The good news is that since some of the big accounts dumped coins in the market dip, we are now in a situation where the top 12 accounts received over half of the HBD interest.

The top 100 accounts still received over 80% of the HBD interest. The top 300 accounts received over 93% of the HBD interest. Considering that there are tens of thousands of active accounts, the stats show that high interest on HBD interest is a game that benefits the top 1% at a cost to the 99%.

So much for the claim that HIVE will make a positive difference in reducing the inequities of the world.

!hivebits

Posted Using LeoFinance Beta

I think you are misunderstanding some things :) Let me explain.

Video is not saying 20% interest alone makes a platform ponzi scheme at all. It is talking about cashing out of Tron, which is probably pre-mined or founder coins. Imagine if you are a founder of chain and have massive amounts of those coins. If you wanted to cash out, the price would drop significantly and you wouldn't be able to maximize your profits. But by converting Tron to USDD you can trick others to buy into your scheme, while not affecting the price of the underlying coins, in this case tron. And to make this new coin attractive for people to buy you offer crazy APR like 39%. That is what video is talking about.

You can't do that on Hive, because of how decentralized it is. The richest stakeholder on Hive only has about 3% of total supply. And you don't actually see anybody minting massive amounts of HBD either. If someone did, we would all see it. That's actually is one of the reasons for making these monthly HBD interest payment posts to see what is changing.

We can't tell with certainty the reason why the HBD interest payments dropped in June based on this report. It only collects interest payments. It doesn't consider other transactions like new HBD creation, supply change, moving to and from exchanges, etc. The scope of these reports is very limited and is only intended to keep track of the interest payments. Nothing else. So, we can't say that any dumped or acquired HBD based on this.

Death spiral was referring to what happened to UST/LUNA, and if/when USDD activates its algorithmic pegging it may potentially face the same problems UST/LUNA had. This topic has been discussed a lot last month and it is clear that UST/LUNA didn't have protective measures that HBD has.

the stats show that high interest on HBD interest is a game that benefits the top 1% at a cost to the 99%.

This statement of yours is completely wrong. :)

Everybody who is receiving any HBD interest payments and getting them in proportion to the money they are willing to invest or keep in savings. This is their own personal money. They are the only ones who are taking the risk with this investment. And they will be the ones who get the rewards. This investment mechanism is open to everybody. Anybody can convert their cash or other assets into HBD and take advantage of these returns, and also take the risks that come along. If this was the greatest and easiest thing to do, everybody would do it.

These interest payments are not at the cost of 99% at all. What do you even mean? The cost of these interest payments are paid by Hive stakeholders, just like all the other rewards Hive offers. All rewards on Hive: author rewards, curation rewards, witness rewards, HBD interest, etc come out of Hive inflation which is about 6-7% a year. This inflation dilutes the shares of stakeholders. This means, stakeholders collectively are responsible for all rewards given out by Hive blockchain.

HBD interest payments are very small compared to content rewards. For example, since its start Hive paid out total of 339,059 HBD as interest payments, while have distributed about $20 million USD/HBD worth of content rewards in the year of 2021.

So much for the claim that HIVE will make a positive difference in reducing the inequities of the world.

Nobody makes such claims. lol. or at least this is the first time I see this. Hive does empower ordinary people. It creates opportunities for people to build web, apps, games, and communities in a decentralized manner on a decentralized network.

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Yes!

Last place!

Eat your hearts out Hive!

That was the first thing I noticed. I thought it was your first payment, then I saw you ranked even higher in May.

It’s not a competition. :)

I just throw whatever HBD I earn into there and give myself a raise. Probably be off the chart next time and that's fine.

This can be an interesting marketing slogan. HBD - Give yourself a raise!

I used that angle in a post from January. Simply giving yourself raise without having to ask 'the boss' and hear the word no, as one of the options we have here.

Uh congratz buddy! You achieved something!

Best day ever!

Congratulations my friend for this achievement on hive!

You're going places fren

Almost enough to go look at Disneyworld from outside of the gates!

Or just visit a strip club with a few bills, probably would be a longer outing.

Is that 20% interest adding up during those 3 days of waiting while it will be withdrawn from the savings after I initiate the withdrawal?

I don’t know the answer to that. Now I am curious too.

I made it almost to the payment of the #300, but divided by two! 😁

Anyway, very informative post. I always open your stats about the HBD and there are a lot of interesting facts around.

Getting paid is all that matters. Thank you.

“ There are challenges for HBD to be widely adopted as a payment system. These challenges have nothing to do with HBD itself. “

As a 5 year Hiver who loves this place I gotta pushback. The biggest problem is HBD is not a stable coin at all. It was .88 cents in the last 12 hours. It dips 10% or more weekly. HBD will not be adopted outside our platform as a mainstream token. We should focus on Hive token getting exposure and on exchanges. HBD will never be a trusted mainstream stable coin. It’s not stable at all.

693081EB-1575-4E94-8725-021EA566CE37.jpeg

I fear this will not end well. I don’t wanna be right but it’s simply math. HBD is a horrible stable coin if used outside our platform especially, like this response won’t make many feel good about it - oh sorry it’s .87 cents this hour but don’t worry it will artificially be put closer later in the day so don’t worry…

I just don’t get it. 10% moves and not stable so why are so many here pushing it as otherwise?

It’s all love and respect ✊

Cheers 🍻

Like you I also used to look at these charts and wonder what was going on with HBD prices. These charts are misleading and depending where the price data is coming from the data is not same either. I have two platforms I watch HBD price at and both always show different prices.

A couple of months ago I tweeted the following and received the answer to this phenomenon.

hbd.png

As you can see, I was also noticing the price drop, but was also seeing a quick recovery. What Hive witness, Mahdiyari said explained the situation.

In fact, the HBD price is not actually dropping overall. It is only dropping in exchanges like bittrex where the liquidity is low and people don't really understand how HBD works and its purpose. In the internal market HBD was able to hold the USD peg just fine. In other words you would be able to sell HBD for $1 worth of Hive in the internal market.

When HBD is traded on exchanges, anything can happen to the price because price is determined based supply, demand and liquidity. But when price drops low, there is a quick arbitrage opportunity to make some profits. So, some trades take advantage of this and HBD price recovers back to $1 in exchanges as well.

At the same time we can convert HBD for $1 worth of Hive using HBD to Hive conversion mechanism, as long as haircut rule is not activated. If haircut rule is activated then conversion would result in less than $1 worth of Hive, maybe $0.90. But haircut rule is there to protect both Hive network and HBD and prevent bigger problems.

I hope I was able to explain why charts aren't true representation of the real price of HBD and how it's been holding the USD peg. This make HBD a powerful stablecoin.

The pHBD swap pool price is also a good indication.

That does look a lot more accurate. I will follow pHBD now. Thanks.

Here's what I see right now. Not cherry picked, I just looked right after seeing your reply. Can't really do any better.

image.png

“ In fact, the HBD price is not actually dropping overall. It is only dropping in exchanges like bittrex where the liquidity is low and people don't really understand how HBD works“

I appreciate you taking the time to reply very much 👍 any critical takes below aren’t personal but just my feeling on HBD…
If true it wouldn’t drop on a regular basis. Smart traders would buy it up every time after a while. Even on our platform market area I see it drop regularly. So respectfully I don’t buy this explanation at all. I will accept it for the deeper drops 100%
But ur saying maybe .90 like .90 isn’t a problem. If tether went to .95 cents all hell would break loose.

I guess my issue is it’s just not stable. No good will come from spending energy promoting HBD for use outside our platform. It’s like promoting something that sucks at what it’s being promoted as being the best for. I believe it puts regulation authorities on our back and paints an extra big target. I very much appreciate the reply and I do see factually what is said about the deeper dips, I’ll totally agree there but it’s still massively not stable at 1.00 and doesn’t look to ever be. There are stable coins backed by actual value. We should be in the promoting Hive token biz not a so called stable coin that sucks at staying stable.

The 20% interest won’t remain long term also, it’s impossible unless the token breaks down further and the value lost comes outta price instead of APR. Lastly the dollar is garbage and loosing value yearly so after capital gains tax ur not making much anyway and I am no fan of any stable coins really so I’m just gonna stick to Hive and hoping one day we fork out existence HBD all together so it doesn’t exist.

It’s clear the attention and chasing 20% interest takes attention away from Hive token value. Many friends here put funds into HBD that at least some would be in Hive instead. This is another reason I see HBD as a negative overall. I wish I could agree as I’d love having some reliable USD earning 20% interest but I know that’s not possible long term so I don’t risk it. The risk for me isn’t worth a few % ( usd inflation is over 10% and taxes on the 20% must be paid so it’s not even more then 5% earnings broken down)

Now that we can exchange bitcoin for Hive in seconds using lightening network I just think many don’t realize it’s not even needed anymore. But I admit I have issues with most stable coins. The USA government can freeze funds anywhere if in USD. Tether accounts aren’t safe with the US empire being corrupt as it is along with regulatory agencies being anti freedom pigs mainly. Perhaps I’m bias having this take so we’ll see who’s right the next couple years. I’d bet HBD breaks in some way by 2024 and we have to fork to deal with it. I also predict other stable coins will crash also.

I don’t mind negative perspective at all. But you need to back your claims/opinions with some substance. You keep saying HBD will/might break. What makes you think that? Why should somewhere be worried about it?

Just a fluctuation in its price doesn’t say much. It is a traded asset and all traded assets and derivatives fluctuate in price.

There was a time when HBD peg didn’t work at all, then I could have agreed with you that it didn’t serve its purpose. Now it is a completely different. It holds USD peg impressively well. Sure I may have to wait a bit sometimes, but I can almost always get full USD value in return.

Tether and USD backed coins are different. They have or suppose to have USD backing 1-1. Even then you need to trust someone that they actually have the backing. But they aren’t algo stablecoins.

Among algo stablecoins attempts so far HBD seems to have come up with the best solution. As you said USD keeps losing value year over year. Having 20% apr on HBD can be a hedge against inflation for those who see value in USD equivalent.

Regardless what we may think about USD, the world still uses it and it is something familiar for most.

I too prefer to hold Hive instead, which I mainly do. But having some HBD doesn’t hurt either.

I guess it all depends on our investment strategies/plans. But none of this negate the fact that HBD actually working as designed.

There’s so much I disagree with in ur comment, mainly the 20% isn’t safe at all, but let’s just agree to disagree: I refuse to trust any algorithm “stable coin “. Especially one being promoted as better that is not even stable at all. They won’t work long term is my take but smart people like us can obviously agree to disagree.
Regardless of difference of opinion I respect ya ✊
And we agree on Hive itself so cheers to Hive 🍻

For any others reading this and my critical comments⬇️
I care about Hive. If I didn’t I wouldn’t bother talking about what I see as a huge liability to Hive reputation itself when HBD blows. It’s simple math. One day people will see (again in my humble opinion) it but I guess not till it’s 2 late unfortunately. It’s all love and respect ✊

In meantime friends we all want Hive itself to grow and succeed so no need for drama over different opinion on HBD. Heck I remember somebody downvoted me for being critical in 2020 about HBD. So silly 🙃
We all want Hive to win 🙌
Again friends cheers to that! 🍻🍄🙌✊🎸

Interestingly enough, I'd not write UST off as old news too fast. The community around the classic chain is strong and pushing to revitalize the chain and make it community run. Sound familiar? I've been watching it for the last month or so.

Wrote some of my observations here: https://peakd.com/hive-167922/@shadowspub/luna-classic-community-has-shades-of-hive-beginnings

I consider that this is how we are all, pending Hive and its promotion, hopefully this month of July everything tends to rise, in any case, Hive for me has been the best thing that has come into my life, from there I pay for my medications and exams which are very expensive in Venezuela. Let's have a lot of faith in this month of July. The optimism that you print infects me so that in this month everything is great, personally and in Hive, at my age of 69, Hive is the only project I have, besides being happy with my family. successes.

Wow this very inspirational. I will be more active every single time and this is my birth month so i hope that it is a great start. Lucky month for me and to all 😁😁😁

Thank you!

I agree that HBD doesn't have as many issues as the current stablecoins and I don't think Justin Suns USDD will really do anything. I guess it's a ponzi so he can cash out of Tron.

I guess the price decreases have also dropped the amount of HBD savings. I would not be surprised to see the HBD withdrawn being traded away for Hive.

Posted Using LeoFinance Beta

How not? It’s totally not stable, hit .88 cents hours ago. If Tether did that it would be mainstream biggest story of the day.

I didn't know these things about USDD and Tron and Justin Sun...there so much going on in the crypto verse

Posted Using LeoFinance Beta

The stats show that more Hivers are accumulating HBD :) I am torn between saving and buying more HIVE, lol!

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Why not do both? I like to keep some HBD as a hedge, in case Hive prices drop too low and present an opportunity to increase HP.

That's an awesome strategy. Thank you for sharing :) Was saving HBD little by little for the past few months. Took out half of it a day ago to keep it liquid to use when the opportunity presents itself. Will need to keep setting some HBD aside :)

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Yes I share that thought, I have been depositing my HBD in the Polycub pool HBD-USDC to earn the high APR there, and because it's more liquid then a savings account.

Posted Using LeoFinance Beta

That's good. It's nice to earn PolyCUB too. All the best to you :)

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I didn't notice you didn't blog much this month, probably because I was super busy me too (and I am still), living thus a bit off-chain. Therefore, my level of engagement on Hive dropped quite a bit, unfortunately, and I am sure that I have missed many interesting blogs. Anyway, that's life.

Now July is there. Let's see how this will improve our respective situations. On my side I begin the month with a full-admin role... happy end of the academic year ^^

I can't remember a time you weren't busy. You always are. But you also manage to multitask and get things done.

That's true :D

after what happened at UST I don't like 20% anymore. hahahah. I hope HBD at 20% is sustainable

Yes, after what happened to UST/LUNA we all had to reevaluate our thoughts and understanding about HBD. But more I think about how HBD works, more convinced I am about its superiority over other stablecoin attempts.

Excellent reasoning. Indeed HBD is performing well compared to other stablecoins. Thank you for sharing your opinion with me

128!

Well played!

Pretty interesting to see how far up I am. I was expecting many whales instead of me 😅

Yes! I am on the list. I am one of the wise guys :)

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Wise indeed!

Yessss! made it to the top 300

Lol a bit shocked to see my name at all (292). I find HBD to be a relatively safe and wise investment and am in no hurry to see my stake drop

I agree, HBD with interest payments is a good investment or at least a hedge, especially during bear markets.

I am very glad that HBD doesn't have the issues of the troubled stablecoins. I didn't know Justin Suns was unloading his Tron, trading it for a stablecoin and then that stablecoin for another is very creative.

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I think to mint USDD you need to burn Tron and looks like most of USDD in existence were minted by Justin Sun. I am not sure if he is actually exchanging them to other stablecoins though. That was Coffeezilla 's guess.

Oh Burning Tron and Minting USDD.
Interesting, so no negative effect on the price of Tron?
Smart
I need to study Justin Sun more.

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There will/might be negative effects to tron when/after algo pegging is activated, because usdd peg will be backed by tron. I don’t know the details.

Wow. Negative like Luna negative? That would be a tragic end for Tron.

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I recieve about 4.50 HBD per month and I continue to transfer the HBD I earn into the Savings. What a great thing of HIVE it is!

Good way to save some cash.

This is interesting. @mika appears to exist solely as a savings account. Of 1,987,838.669 HP in the wallet, 1,982,354.232 of it is delegated out. The account has half a million dollars in savings.

Some people just like to invest and don't see a need to social participation. Passive participation is also beneficial. Hive is an open network for all. Some also choose to keep significant fund in separate accounts/wallets for security reasons.

I agree. Some people use Hive accounts as crypto bank accounts, and that's fine. They're an important part of the Hive ecosystem.

And worth over 2 million all in. Prolly smart to use a secondary account to avoid using keys often with such large holdings.

Yeah. In that regard, it's nothing more than a bank account.

Awesome to be in the top 100 💃🏽🕺🏿

Congrats!

:) HBD just makes me smile..

i currently have traded my HBD for HIVE since that is on sale. I will let HIVE increase in price then sell to HBD again.

I wanted to do the same, but missed the opportunity. Will wait to see if Hive drops lower again.

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Wow nice update

Thank you!

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