RE: I opened a protocol PR: scale DHF payouts when HBD printing is suppressed
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Now I am sorry, but that sounds like a bad joke. People getting paid by the DHF are more affected than people paying the DHF? .. That is nonsense and borderline disrespectul to people buying right now!
Andre is reasonably trying to share his opinion, and you respond with histrionics? His point is a simple truth, not a bad joke. The haircut hits anyone who is getting paid in HBD, but it doesn't hit anyone who is paid in Hive.
So when the haircut hits, the value of Hive that posters receive is not cut by the HBD haircut. It is holders of HBD and receivers of HBD-denominated payments (e.g. DHF recipients) that get hit by it. Why is pointing out a simple truth disrepectful to anyone? It is just a fact.
People buying hive during a haircut period would possibly even benefit from the haircut, because it's essentially a haircut on debt.
In fact, it is actually a form of the request you're making with your protocol change: a mechanism for lowering the payments to DHF recipients during a period where the price of Hive goes low (of course, it also impacts HBD holders as well).
The rational part
I understand that mechanic. I am not arguing that the HBD haircut cuts HIVE-denominated payments. My point is about who is already hit before the haircut. The haircut directly hits HBD-denominated payments. I am not disputing that fact.
It sounds like mockery to me particularly and directly because I bought HIVE. At the bottom line, I am financing the DHF. HIVE buyers put in outside money while DHF recipients receive treasury HBD convert or sell and that value ultimately comes from people still willing to buy this token while confidence is collapsing.
HIVE buyers and holders are hit before the haircut. We have weekly all time lows. By the time the haircut activates the buyer has already been carrying the damage while DHF receivers have naturally been paid until then and there.
That is why saying DHF recipients are more affected sounds like mockery to me as a buyer, and not just me, there is a reason we are worth the same as Steem. They are not more affected by the whole crisis than the people putting money into the system while it bleeds, they are (argueably) more affected only by the technical mechanic itself.
We are send a very bad message to HIVE buyers with the way we phrase things and hide it behind technicalities.
Only dumb people like me are buying to begin with, and clearly we can not hold the price.
A new buyer after the haircut may or may not benefit. People who bought before, held through the collapse, those are the ones hit the most.
“Buy more stake if you want to change governance” means asking them to gamble more money into a system already failing to convince the market. That is exactly why almost nobody is buying to change governance at all-time lows, and clearly not enough to sustain the price.
There is little going for HIVE right now except faith, I am still buying because of dumb faith. But you have to sincerely ask youself, not me, why the market values us almost the same as Steem after all these years, all this work, all this DHF spending, all these apps, all this governance. You really need to take time to reflect that. Why are we worth the same as Steem?
No one is buying HIVE.
The desperately, personal and emotional part
When the haircut hits it is just the consequences of all we have done before have already hit the people who have financed and delayed and to me yes it sounds like mockery because I am buying and I feel like my purchases are seen with contempt. I feel like I am a second or third class citizen. I feel like I do not matter, the people receiving the DHF, paid by me, matter and I do not matter.
I am dumping this on you so you know how I, someone buying HIVE, but possibly others buying HIVE feel. Often times in this thread by how you phrase things I feel disrespected, as if I have no value to the ecosystem. You have value, DHF receivers have value, I as a buyer have no value. If I keep buying HIVE this is now stockholm syndrome.
Well i think clear rules around HBD would make sense. I think the random yield on it is not smart at all.
A clear rule could be 10y bonds yield + 3%. So its an alternative to it that pays more.
But 12% or 20% is IMO not smart at all. It works like a short contract on hive that doesnt add demand on "closing".
And we need the theory in Bear market not Bull. Because limit risks is smarter as "scale" opportunity.
And i dont think "opportunity" is the right word. At 3$ hive, it would mean we already print like the FED.
So we dont need a skyhigh yield on top. And I think most people dont like the waste of DAO.
Example 3spk. They got DAO money and the project is dead ( they lost all token airdrop balances, so its 0 and everyone bought the miner token got rugged). Magi is a smart chain for Ants, you cant even trade 100$ without 20% slippage.
DAO without a clear guide is like burn the chain. Front ends depend heavy on Funding, IMO this sets the incentive to never make any revenue.
IDK, but this makes it uninvestable to hold large numbers of hive ( or lets say buy more at this cheap prices).
IMO maybe 5% of DAO funding was ok, everything else is waste and we would be better now using those funds in deep pools to be able to trade hive with size. 1M HBD/ Hive pool would be magic.