RE: Crypto 101- What Is Proof of Stake?
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Ok I get it, there are so many subtleties to all these things. But it's so interesting. Right now, I'm trying to figure out the interests of HBD with @godfish. I'd be curious to know what you think of the 20% interest rate.
It doesn't have much to do with your article, but it fits into the universe. But if you don't want to answer, don't force yourself ^^
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I am not that big of a fan because it discourages its use as an actual currency to be used for commerce. The introduced the 20% at the wrong time, basically as an answer for the LUNA/UST collapse as an “attraction” to Hive, but it was more of a detractor because many outside of Hive don’t trust algorithmic stablecoins.
It also puts sell pressure on Hive itself as it has to convert it to hold the peg. I personally don’t hold HBD. I usually end up converting it to USDT on Polygon and using it as collateral in AAVE where I can actually use it for lending, borrowing, and spending because I am one of those few that actually try to live on crypto, not just treat it like another investment vehicle like stocks.
Okay, I understand, that's very interesting.
I confess that I'm actually using the HBD as an investment vehicle at the moment. But I know what you mean. So I'm going to give it some serious thought.
I have to admit that the 20% is very attractive to me. I have some very big projects to finance in the future. In particular, a project for total autonomy on my land. And for the moment, I'm using the 20% rate as a means of saving.
But if it actually "breaks" Hive, maybe it's not such a good idea...
Thanks for your insight, I really appreciate it.
It doesn’t break Hive by any means. The chain runs without issues there. There are pros and cons with it. I just have my opinions on it. If you are using it for savings don’t let me stop you.