RE: We Can Reduce the HBD Interest Rate
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Here is the problem. We want people to use their HBD for commerce.
The best way to do this would be to change the conversion formula so that it converts an HBD to $1.01. The extra penny covers the conversion fee for using HBD.
People Hoard Shiny Coins
In the days of silver. People would hoard their shiny dollars and spend their worn dollars. You want to get rid of the cheap money first. The low interest rate might convince people to use their HBD first.
I am really hoping that witnesses lower their interest rate and that hive users temporarily vote on low interest.
Enough users have voted on lower interest that the witnesses will be forced to change the rate in the near future. I hope they lower it to 10% and not 12%.
I want people to use HBD for commerce. I don't want them to hoard it.
!WINE
I think you're misapplying Greaham's Law when you suggest a distinction between shiny and dull coins. People circulated coins of lower purity and hoarded the coins which had not been debased when the law requird they be treated the same in commerce. People don't spend US dimes and quarters minted before 1965 even though they may be worn and dull because those are 90% silver, and the new ones are cupro-nickel.
I agree HBD interest should not incentivize a HODL mentality. Right now, the interest rate rewards HODLing above all else, and the conversion rate to HIVE suggests conversion is in order as well. I appreciate the HBD stabilizer project keeping things from going bonkers like
STEEMdid at least.