I’m not proposing printing money out of thin air. Although on Hive that is exactly what we have done for the last 8 years. All economies rely on some form of printing money out of thin air (ideally with something backing it), when u click vote u are printing money literally out of thin air. When done responsibly and with the economic controls on hive it works great and helps to distribute tokens to valuable members who are adding value to the economy. The idea is that the value printed out of thin air goes on to fuel additional value creation and with network affect u get a sustainable economy. It’s basic

I’m not correct, but the hundreds of thousands of people who need such a system and are trying to find a place for their literal trillions of dollars of liquidity and collateral are correct and they are in need of such a system and have applied it in practice for generations. Those people are smarter than you and me, and we ignore such a system at opportunity cost to hive. They have been using one for centuries and IT WORKS. The only differences between this and their system is transparency in terms of leverage and being able to more easily identify risk in the system and economy using the public ledger.

It’s the exact reason why we are doing crypto. So that the bankers can’t cover up their problems and mistakes in dark economies and thereby put excessive additional risk on the citizenry without them knowing about it. The transparency also helps make markets more efficient and prevents much of the corruption that we have in the legacy system.

I have not made any probably false statements. What I’m proposing has been working very well for decades and has trillion of dollars flowing through it. Its only flaw is that it’s on a centralized ledger and mistakes and excessive risk are obfuscated. Hive can solve that.

ETH is going after this market in a big way with its defi protocols allowing people to stake crypto as collateral and make loans. I don’t see you having a problem with this but their addressable market is already 120 billion staked as collateral and working hard for that community. (120 bn usd locked as collateral and here u are arguing against it for hive when hive is 250 mil market cap total. When u build a system that competes with that u start to see inflows and Hives market cap grows. But people need ways to stake collateral and earn. The only difference is that eth does not have a pristine collateral stable coin that is completely outside of the banking system and we do. How on earth are u arguing that we cannot build a more secure collateralised loan system than the trad economy and ETH has done with our stable coin as collateral that is completely outside of the banking system? We will literally fix the economy with this and make loans cheaper and more efficient at the same time.

Fiat is not what this is. This is a collateralised loan system with a pristine collateral stable coin that always clears to one dollar of value at its core. It’s so valuable it’s difficult to express the scale of inflow of capital we would receive and how much this would fix the bad ways of the old economy.

Fiat is small groups of ppl having the ability to print money to zero while benefiting themselves as they are nearest to the money printer. Hive is the opposite of this since it’s transparent and everyone has a fair shot of getting the freshly minted money, therefore it is not fiat in my eyes.

I’m not proposing replicating fiat, I’m proposing replicating what DeFi has done but with a pristine collateral, parallel economy LI stable bond as its core unit of collateral.

Why do u think this replicates fiat?

Luna had zero utility on its main collateral token and had no economic controls to prevent its stable coin becoming large compared to its collateral token

Hive has economic controls and its stable coin is currently over collateralised by something around 21 times. incredibly secure. The opposite of Luna. I’d put my life savings into the Hive token when compared to Luna

Lunas risks were very very public and it helped me stay completely away from it. I never touched it because what happened was so obviously going to happen. So the transparency helped me a lot. I’m sure it actually helped many people like me to stay away and keep their value locked in places like Hive as well as the traditional banking world,

Luna is not what we are replicating here. We are replicating ETH DeFi but with an over collateralised, feeless stable bond as its main unit of collateral instead of random, mostly centralized cryptos as collateral with fees like on ETH and other DeFi chains.

I do think u are not quite understanding what I’m suggesting and ur jumping to wild over reactionary, fantastical conclusions.

I’m not sure why ur doing this, but it’s really not good for capital inflows to hive. IMO ur views are anti hive. Maybe u have misunderstood the system that I have proposed and are overreacting to some other thing in ur mind that u have formed. But to put it simply, all I’m suggesting is DeFi on Hive with a different, better type of collateral than others in crypto are using.

Next questions please I believe this addresses all your points. Please leave out the gotcha points and the emotion, it takes longer to rummage through and understand what ur actually trying to say.

They don’t work when you are criticizing a system that has been used over decades and works perfectly well already on chains like eth and solana and bnb (except on hive we can just do it better because of our decentralized, parallel economy stable coin can be time locked and used as a pristine collateral bond).