First, USD (and all fiat money) is depreciating currency against Bitcoin (crypto). So, this means if HBD is pegged successfully to 1$ then HBD will be a depreciating coin, not a stablecoin. A stablecoin is the one pegged to Bitcoin, Ethereum, etc. Moreover, pegging a token like HBD to fiat money is a sign of backward thinking. This is even funny. We are crypto enthusiasts and, all of a sudden, we start to peg a token to fiat money. This is very strange.
Second, yesterday, I saw a post about the HF25 saying that one of the 'reasons' behind pegging HBD to 1$ is useful for businesses. Come on! This is funny! This just means that HIVE ecosystem is not decentralized and people controlling the HIVE ecosystem live probably in the USA. That's why they pay attention to the USD while doing business. In my part of the world (Bulgaria, EU), if you ask the people what is the current rate of 1 USD they will even don't know. Because nobody uses USD. Europe has EURO. And people are not familiar with the US dollar, and nobody is going to use it here. That is why if we are going to peg HBD to fiat money, why not choose EUR? The population of Europe is bigger than in the USA. Or why don't we choose Korean Won, or Indian Rupee, etc? I am pretty sure for the HIVErs from Europe, HBD pegged to EUR will be much more understandable for doing business. For the people in Korea, a peg to Korena Won will be much more understandable.
So, pegging HBD to 1$ is a sign of centralization. This means that people controlling the ecosystem probably live in the USA and don't understand what is going on in the other part of the world.
In my part of the world (Bulgaria, EU), if you ask the people what is the current rate of 1 USD they will even don't know. Because nobody uses USD. Europe has EURO.
That's the issue?
That has nothing to do with pegging. It has to do with 'presentation'. HBD can be pegged to USD but presented on the front ends in whatever currency the user prefers (out of a list).
I have a suggestion for front-end devs then. When they have time, they can add a 'preferred currency' on their options page, and everything they express as USD on their front ends they will express in the 'preferred currency' going forward. Would that sound fine for you, if they'd implement it (because it's quite some work to do it, but it may be worth it)?
P.S. By the way, I live in the EU too, and I know both. It's a matter of habit.
What if there where pegs for all fiats and you can choose the one you use?
Just a imput, I am not bulgarian dough hahah
Greez from Switzerland 🇨🇭 ,I would choose HBCHF hahah
Looking forward zo all new features
Because of the following:
So, pegging HBD to 1$ is a sign of centralization. This means that people controlling the ecosystem probably live in the USA and don't understand what is going on in the other part of the world.
Considering the USD is the reserve currency and more than 70% of the global transactions are in that currency, I am not sure how that is centralized.
And I would saw that more than half the witness are outside the US.
As for Bitcoin, the problem with that is that it is deflationary. Anything that is tied to that will end up collapsing the economy.
Posted Using LeoFinance Beta
That's the issue?
That has nothing to do with pegging. It has to do with 'presentation'. HBD can be pegged to USD but presented on the front ends in whatever currency the user prefers (out of a list).
I have a suggestion for front-end devs then. When they have time, they can add a 'preferred currency' on their options page, and everything they express as USD on their front ends they will express in the 'preferred currency' going forward. Would that sound fine for you, if they'd implement it (because it's quite some work to do it, but it may be worth it)?
P.S. By the way, I live in the EU too, and I know both. It's a matter of habit.
Posted Using LeoFinance Beta
What if there where pegs for all fiats and you can choose the one you use?
Just a imput, I am not bulgarian dough hahah
Greez from Switzerland 🇨🇭 ,I would choose HBCHF hahah
Looking forward zo all new features
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