Let me begin by saying that I strongly believe having a reliable and properly pegged HBD can have massive value for HIVE.
Whether it is to have eCommerce that accept HBD that can benefit from integrating with Hive's userbase, or Communities themselves adding eCommerce options for their members to buy things. Communities and popular creators could also benefit from a stable HBD to accept recurring payments from subscribers. The options here are truly limitless, and all can bring value back to Hive.
But we're far from there yet.
Today, HBD again saw a significant rise in price, following a few weeks now of it trading well above its intended peg. Most of us will fail to be surprised by this, having seen the Steem Dollar trade for $7-9 for at least a month straight. We've also seen this 3 years ago during the previous bull run.
So it's no surprise to see it happening to the HBD, despite heroic efforts to keep it calm by making posts and proposals to buy HIVE and return it to the DHF.
But does it matter?
Let's face it, the current ongoing efforts to keep the peg is at best a bandaid solution. I do think it's better than nothing and do see the benefit of locking up some HIVE with excess HBD from the DHF. It's better than nothing. But let's not pretend that it's a solution. If we really had significant businesses and content creators with large audiences relying on their Patreon payments etc, then the minor effects of these efforts don't make a practical difference.
But we don't have those yet, so what's the rush to do minor fixes unless it's a solution that can work long-term which actually provides a stable peg?
I've seen a lot of the discussions in response to new DHF proposals, posts, and elsewhere. And I see how some argue for why the peg is important, noting some of the reasons I've just made in the first paragraph. But those are arguments for carefully thinking out and implementing a solution to support a long-term vision for how we can grow Hive, not for a short-term urgency to throw enough potatoes bandaids on the problem to bring down the price.
Who needs a quick fix anyway?
So the question is, who is actually using HBD in a way today that makes this so urgent that it needs everyone's attention in a period of time when a recent price rally makes it the perfect time to focus on onboarding and growth?
There's another way to bring down HBD: Create more. And there is another way to create more: Increase the value of HIVE. And there is another way to increase the value of HIVE through locking up more tokens: Bring in more users who need to stake tokens.
I prefer that one.