The only valid objection Ive seen is that 20% APR is seen as a scam.
And that very much might be true.
I'm writing yet another follow-up post to this topic tomorrow, and I've addressed this concern within.
Do we really think that these people calling HBD a scam are going to change their mind when yield is reduced?
Nah of course not they're just going to nitpick about some other detail, like how we just changed the interest rates so who knows what it will be tomorrow or the next day. These are not the kinds of people one caters to if they want to have any real success in this industry.
The argument is that less people will see it as a scam even though Ive seen only 1 guy with any non-insignificant following claim it is a scam. Funny, how much effect 1 random guy can have on some folks.
They defend the 20% yet fold so easily once the market dumps a bit.
Yeah it really just is the one guy huh.
These people act like it's pervasive.
HBD was way more of a scam at 0% APR when it was called SBD and dipped to 60 cents twice.
Now that will not happen again because of a higher haircut, Hive >> HBD conversions, and the yield.
Yeah exactly we already made it through 2 years of bear market and right when it's about to be over everyone starts collectively deciding we should unwind the position and this will somehow make number go up. Extreme 'depression' market cycle vibes right now.