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smooth

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2016-03-25 13:36

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smooth

5y

RE: HBD about to be stabilized

So if we become a 10B MC and we print 10% HDB. That would be 1B, if the price stays long enough on that level? And if the price goes down again to 1B MC in that example we have 100% inflation if the HDB

$ 0.048

1

smooth

5y

RE: HBD about to be stabilized

It varies and isn't fixed, I'm just saying it's not "random" in the sense of being an independent variable. If the price goes down, the inflation goes up, and if the price goes up the inflation

$ 0.000

0

smooth

5y

RE: HBD about to be stabilized

Not fixed, but not really random. If the price goes up inflation goes down, and vice versa. I expect the price to go up or I wouldn't be holding the token anyway.

smooth

5y

RE: HBD about to be stabilized

The absolute price doesn't matter. If the price declines a lot then the HBD is capped at 10%. This has happened before and the sky didn't fall. Even if the 10% is increased, it's still capped. It could

smooth

5y

RE: HBD about to be stabilized

I think the risks are actually similar. When you have a high amount of debt and cascading liquidations its not all that different in terms of impact on the price of the base token. That's all we are really

smooth

5y

RE: HBD paying interest?

I don't really agree this is significant. If you're paying 1.20 or 1.50 to buy 1 HBD, you're betting 20-50 cents (at risk if it goes back to 1.00) that it will go higher even. This usually happens in days,

smooth

5y

RE: HBD about to be stabilized

This is somewhat circular though. If the mechanism fails because 10% is hit to easily or too often then it won't be stable and won't be used for purchasing things or much else besides the usual speculation.

smooth

Hive Improvement

5y

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

Using the minimum of all the history of median prices provides the maximum degree of protection. The most recent median would be included in that history, so if that happened to be the lowest price, it

smooth

Hive Improvement

5y

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

The converter's "collateral price" in this case is already a 3.5 day median My proposal above was the use the most recent price. Using the 3.5 day median isn't great because it may be a lot higher

smooth

Hive Improvement

5y

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

Ultimately I think the fee should apply on both sides. With the fee only on the high end, HBD will tend to trade in a range of $1-$1.05, which isn't really desired. Better with the same total fee would

smooth

Hive Improvement

5y

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

After considering this a bit more, the initial price should use either your method of the minimum of the most recent and median price, or perhaps even better, the minimum of all the prices in the feed

smooth

Hive Improvement

5y

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

Here's another method which addresses your concern about not getting the HBD right away and still prevents gaming or undesirable disincentives to convert by using a future price, by combining the conversion

smooth

5y

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

The temporary dropping of support for the 100 HBD/hour proposal (reducing total funding to 200 HBD/hour) was done by some big stakeholders in order to make room in the budget for some other proposals.

smooth

Hive Improvement

5y

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

The problem is that it is important to have compelling reasons to buy and hopefully stake Hive, in an environment where the 15%ish on curation isn't competitive I don't see a big change there from a modestly

smooth

Hive Improvement

5y

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

It complicates things slightly to have two different delays, since you would then need two different historical median calculations, although they could work off the same feed history. 24 hours to me seems

smooth

Hive Improvement

5y

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

It's perfectly reasonable but I'm still wondering whether the value add is enough to be making that kind of change. I'm just not sure that people need dial-a-staking-period to this degree. The 13 weeks

smooth

Hive Improvement

5y

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

I'm still a little worried about effectively fighting pumps though with a 3.5 day delay in the conversion time. I could easily see converters getting their HBD right about the time the price pump ends

smooth

Hive Improvement

5y

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

Making the market dip means they would get less HBD. That's not a gain, but it could discourage others from initiating HIVE->HBD conversions. That's why I say it is only a denial of service (but that's

smooth

Hive Improvement

5y

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

Yeah, I think rather than wondering about different tradeoffs, we should just start with the inverted 3.5 day mechanism. That addresses the fundamental supply imbalance issue. If it then turns out we need

smooth

Hive Improvement

5y

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

If it gets to the haircut ratio too quickly on a regular basis I think that just tells us we should increase the haircut ratio (within reason). This means there is more demand for HBD, which can be transmitted

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