it depends.

The vouchers analogy doesn't fit IMO what HBD is. because it's more of a ticket for allowing to buy. Itself it has no value, only a market-driven one. HBD has a natural value of 1$ worth of hive.

I remember also times SBD was traded for 0,6$. That was the other extreme.

To LUNA, like I told HBD has a positive and negative catalyst.

If we all want to make a quick $ and let the chain in the worst case burn, that is the way we can go.

If LUNA would lose 90% in value in a short time period, I would bet the chain is gone.

I would like to see this first. But it depends on what we want. Fast $ in bullrun, let's burn as much hive as we can and print HBD.

The catalyst is exponential.

But also in a negative way. we had 20%+ inflation in 2018/2019.

This could be also 200% if the market shift and the attention move away.

We don't have a stable social fundament. Only 10k-15k using the social features.

I also would expect, our builder would ALL leave the chain if we have 200%+ inflation. This is what heavy market swings can do.

But as I told, it depends. On timeframe and what the goal is.

And my bet is, we see hive again under 1$. Sure many will disagree, but that's what I think. It doesn't mean hive is bad or something.

Some sidenote: Closer peg = most dangerous that could happen.

if we are at 30% print limit, or 29%, and we loss 50% in value.

From 1 day to another, HBD is worth only 50% in Hive.

That sounds to me not stable. That's, why I think being careful, is better.

I don't know how luna handles this.

If there is no haircut, I think the chain will die in bear.