Community post
HBD and it's Stability
HBD, the Hive Backed Dollar is said to be the stablecoin of Hive blockchain. A stablecoin means it has to be pegged to U.S. dollar.
That being said one stablecoin should equal one dollar.
Now looking at the price of of HBD right now, it is pricing at $0.94 on coinmarketcap.
Have a look at one month price chart of HBD om coinmarketcap.
I don't think HBD could register its name in place competing with the top Stablecoins out there in the market if it fluctuates like this.
This is how it looks for the biggest stablecoin USDT in the market.
Somehow, it HBD has to find a way of getting stable. And probably for this reason HBD may not be listed on bigger exchanges like Binance, Coinbase etc as stablecoins are supposed to be stable.
What are your thoughts on this?
Posted Using LeoFinance Alpha
Replies (1)
Hbd doesn't have to be pegged to 1usd, it only has to be stable enough that people use it.
IF we made hbd from empty promises we could compete with tether and usdc, but we don't, so that isn't a realistic expectation.
When hbd is <1usd then converting is profitable.
The hive derived could buy back more hbd than when you started.
The 3.5 day wait takes much of the volatility away, and you can bet that those that have enough hive/btc to influence the price know when, and who, is in profit or loss.
I'm saying that the market is closely monitored because the sample size is soooo small.
A tiny percentage of holders trade the volatility.