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smooth

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2016-03-25 13:36

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smooth

Hive Improvement

5y

RE: Proposed hardfork change to stabilize Hive Dollar’s tracking of USD value

It's not really open to manipualtion except as a denial of service. Making the price lower just makes the conversions less attractive. But yes, someone looking to pump HBD for some reason (not sure why,

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smooth

Hive Improvement

5y

RE: Proposed hardfork change to stabilize Hive Dollar’s tracking of USD value

You seem to be proposing an alternate staking period. Possibly useful, but seems a bit of diminishing returns. I mean 13 weeks isn't THAT long (6.5 weeks average). There was probably a better case for

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smooth

Hive Improvement

5y

RE: Proposed hardfork change to stabilize Hive Dollar’s tracking of USD value

I guess the issue is I was assuming that witnesses will publish any adverse price move during the last hour (including at the current time). In such as case, I don't believe it can be gamed. This would

smooth

Hive Improvement

5y

RE: Proposed hardfork change to stabilize Hive Dollar’s tracking of USD value

The 3.5 day method has been proven pretty effective in handling price drops whenever we haven't been close to the haircut being hit. I don't believe you need the conversion mechanism itself to handle every

smooth

Hive Improvement

5y

RE: Proposed hardfork change to stabilize Hive Dollar’s tracking of USD value

Also, this is undesirable if the HIVE price was lower in the past, but has risen say in the past day or so, which will regularly happen due to typical price fluctuations. It will discourage creating new

smooth

Hive Improvement

5y

RE: Proposed hardfork change to stabilize Hive Dollar’s tracking of USD value

Even that will fail if the price moves quickly before the hourly feed updates. Moving more than 5% within an hour is hardly unprecedented or even unusual. It's also simply not desired to create more HBD

smooth

Hive Improvement

5y

RE: Proposed hardfork change to stabilize Hive Dollar’s tracking of USD value

I think it's better to stick with the 3.5-days-in-the-future model that used for the existing HBD->HIVE conversion. This can be implemented using effectively the exact same code as the existing HBD->HIVE

smooth

6y

RE: Top Hive Earners By Category | Authors, Curators, Witnesses, DAO | February 2021

The DAO automatically converts any HIVE sent to it into HBD. It's done instantly, not via the slow trickle that applies to the "ninjamine" fund. Same thing happens when the DAO is set as beneficiary

smooth

6y

RE: 3% P.A. on HBD ! Great News ?

The stability proposals are working to improve the pegging to $1. A step in the right direction but perhaps not quite sufficient yet. However, on the matter of interest I don't think it makes much difference

smooth

6y

RE: 3% P.A. on HBD ! Great News ?

I think we can increase it once we see some degree of stability at $1. It may be that the current resources from the DAO aren't yet enough to get there but those are increasing at a significant rate so

smooth

6y

RE: Why I set my witness HBD interest rate parameter to 3%

I'm not inherently against the external treasury proposal, but it requires a legal structure and is complicated to implement in a responsible manner. It's definitely beyond the time availability I have

smooth

6y

RE: Why I set my witness HBD interest rate parameter to 3%

Call it a negative feedback if you like, but it's also positive feedback when the price goes up. Again, that's the nature of leverage. Everything you wrote about the downside applies analogously to the

smooth

6y

RE: Why I set my witness HBD interest rate parameter to 3%

It is leverage. Works both up and down. Over time, predominantly up. Calling it a "negative feedback loop" is arguably misleading, at least if you neglect to mention the "positive feedback

smooth

6y

RE: Why I set my witness HBD interest rate parameter to 3%

You're assuming that a non-pumped HBD will crash as much or as easily (or at all) as one which is pumped to $10+. I believe this is false. Yes, HBD has an amplifying effect on HIVE price changes, both

smooth

6y

RE: HIVE Dollar Interest Distributions Begin on the Hive Blockchain

No, you don't lose anything, nor gain anything, by moving HBD in or out of your wallet. The correct interest accrues every block based on the balance that is there. It is only credited at most every 30

smooth

6y

RE: Finding out how does HBD interest work by reviewing code

Interest is out of thin air. However, if the price of HIVE increases over time, which one would normally expect, then HBD has a negative net effect on inflation (it takes more HIVE to create $1 worth of

smooth

6y

RE: Why I set my witness HBD interest rate parameter to 3%

The external treasury idea is okay, but a lot more complicated that in sounds to implement in practice. I would disagree on this point: Adding interest means creating inflation out of thin air for HBDs

smooth

6y

RE: HBD stabilizer update

It had a bug due to an unexpected failure to communicate with an exchange price feed. I restarted it and will fix the bug.

smooth

6y

RE: Why I set my witness HBD interest rate parameter to 3%

True, however the biggest factor will likely be the price trajectory of HIVE

smooth

6y

RE: Why I set my witness HBD interest rate parameter to 3%

But since inflation is dependent on the price that is also hard to separate out.

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