Upvote this post to fund @hbdstabilizer
The rewards for this post are set to 100% beneficiary going to the @hbdstabilizer account.
Benefits of @hbdstabilizer
- The @hbdstabilizer account buys HIVE on the open market with HBD when HBD is above $1.00 USD.
- This puts sell pressure on HBD (when HBD is above $1.00), which helps stabilize the price of HBD.
- This puts buy pressure on HIVE, which helps the price of HIVE go up.
FAQ
- How much of a difference is the @hbdstabilizer making?
- With the current proposal amounts from the DAO and HDB estimated at $1.50, the @hbdstabilizer account has been buying around $10,000/day worth of HIVE by selling around $10,000/day worth of HBD.
- When HBD is above $1.00, the @hbdstabilizer is actually returning a profit back to the DAO on top of returning 100% of the funds that are paid to it from the DAO. In an example scenario where HBD is trading at $1.50, @hbdstabilizer would be sending approximately $3600 profit per day back into the DAO fund.
- How often will these posts be created?
- For now the plan is to create one a day.
- Sometimes the posts may be created as comments instead of root level posts to reduce the amount of "noise" on the trending page.
- Why can't this be funded entirely from the DAO?
- The existing proposals have maxed out the amount that can be received from the DAO without taking away funds from other proposals. The funds from these daily posts will add to the funds that are provided by the DAO proposals.
- What happens to the HP that is sent to the the @hbdstabilizer account?
- It is powered down and sent to the DAO.
- Will the amount generated by these posts even make a difference?
- Every amount added to the @hbdstabilizer fund will generate additional buy pressure for HIVE and sell pressure for HBD (when the price of HBD is > $1.00).
- Aren't these posts taking rewards away from content creators?
- The rewards pool is a community governed fund, and it is up to stakeholders to collectively decide how to allocate those funds by voting on the posts that they feel add the most value to the platform. If the stakeholders choose to vote for funding @hbdstabilizer with some of the rewards pool, it is entirely within their right to do so.
- If the price of HIVE goes up, the amount of rewards in the rewards pool increases. That would mean more rewards to pay to content creators!
- Why do we need to see these posts on trending?
- The @hbdstabilizer fund is adding value to the Hive platform. Existing and potentially new stakeholders who are interested in the platform may find value in seeing it there.
Other posts about @hbdstabilizer
- Request for comments: HBD stabilization DHF proposal
- HBD stabilizer proposal
- HBD stabilizer algorithm
- Supplemental funding for HBD stabililzer
- HBD stabilizer update
Account Ownership
- The @hbdstabilizer fund is run by @smooth / @smooth.witness.
- This @hbd.funder account is owned and operated by @timcliff.
Witness Voting
I strongly encourage all HP holders to participate in Hive's Proof-of-Stake governance model. This means either taking an active role in voting for the witnesses you think are doing the best job or delegating your witness voting power to someone you trust by setting them as your voting proxy.
You can vote on witnesses here:
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STOPTo support your work, I also upvoted your post!
Check out the last post from @hivebuzz:
What is?
how about a new picture from time to time :)
bloody marvelous picture. oh and did you get a hair cut? you look the same but different :)
It's just a tan, but different.
I like the one I'm using for now :)
Or no picture, so this spam takes up less space on the valuable trending page.
it's a good post to just come and hang out on. Something warm, cozy and familiar about it. :)
Yup I agree... I made some. Thank you for the sugestion.. who knows if they will use it tho.. HAHAHA.
I see this is working very well in getting that HBD back to $1 this will NEVER fix the issue you guys have got to figure it out on the back end on how to make it so HBD is roughly always $1 or simply just do away with it or leave it be. There are bigger fish to fry right now then trying to stabilize a coin that everyone knows has never been stable.
Such as what?
Posted using Dapplr
I suggest you stop thinking about it as just stabilizing HBD, but instead channeling excess HBD price into Hive price and reducing inflation. You're holding 57k Hive Power, and @hbdstabilizer is actively working to make that Hive you're holding more scarce and valuable.
well that's disappointing. I should stop caring about it simply because it's stuffing my pockets? Nah sorry not one of those people.
It's beneficial to Hive and HBD. What exactly is the problem?
Keep hearing people say that, but nobody can say exactly what benefits it has.
Tired of the thousand dollar spam posts on trending!
I literally stated the benefits in the prior post. It is currently virtually eliminating Hive inflation. Hive inflation has gone from way above the intended schedule, to very low inflation thanks mainly to hbdstabilizer.
It is also stabilizing the price of HBD, discouraging people from buying it speculatively, and channeling that excess price more quickly into the price of Hive so that HBD supply adjusts at a faster pace to the appropriate amount to keep it near $1.
In theory Steem has the same mechanism, where an higher price of SBD increases the utilitarian value of Steem Power, driving up Steem price to where SBD supply balances out, but in practice it is too slow a mechanism which is why we have seen SBD an order of magnitude higher than the pegged values, and it is currently completely failing to stay close to $1. Using the DAO fund dramatically speeds up this process and ensures that all stakeholders receive the benefits via increased Hive price.
We haven't managed to create a perfect stablecoin yet, but it's so far been better than any other with decentralized collateral (as opposed to centralized collateral such as TetherUSD, USDcoin etc). We can keep making it better instead of throwing our hands in the air and giving up the huge amount of financial value that HBD brings to Hive ecosystem.
Are you aware that you can block and ignore posts from accounts you don't like?
It doesn't seem that way at present, and I wouldn't be surprised to see this uptrend continue.
Do you think the speculators are aware of hbdstabilizer?
And, is it the case that the higher HBD goes, the more HIVE is bought, and in the long run this project will have a positive influence on HIVE price?
The impact of @hbdstabilizer is not within a vacuum. We can only compare to 1) previous Steem bull runs and 2) the current Steem bull run, which is a near like for like project technically if not socially.
HBD is tracking much closer to $1 than during 2017 crypto bull market and compared to current Steem bull run. It's also a simple function of basic economic principles that it should work this way.
I think the speculators are mostly clueless, and @hbdstabilizer exploits their inefficient pricing to the benefit of Hive stakeholders and speculators. All we can do for those HBD speculators is to inform as many people as we can about HBD and how it works, so that they can make more informed decisions. I actually think the stabilizer being on the front page every day helps raise awareness to the benefit of preventing HBD speculators from making bad decisions.
Yes.
Thanks.
I hope that most of the Hive community is aware of the project. Not that I would normally be speculating on HBD, but hbdstabilizer is another reason not to.
However, I will be holding what I collect due to what I saw in previous Steem bull runs where SBD reached multiples of STEEM before STEEM took off.
While HBD is still not a true stablecoin, it is doing far better than SBD historically during bull markets.
It looks that way on the charts, but the real test is coming in the next 3/6 months I think. HIVE has fallen in price throughout that stable looking 75c HBD and now it's starting to move, so is HBD.
That's 75p, my local setting on Coingecko is GBP 😅
I think it will be necessary and beneficial for either the @hbdstabilizer to convert HBD when prices are below eg. $0.95 or to be directly funded with Hive from @hive.fund.
That would create Hive inflation from HBD - however as it will sequester the profits back to @hive.fund, the overall inflation should be much lower than it would be if only private individuals were converting Hive and releasing the full amounts on the market (which can in principle have a compounding effect on conversion-based inflation).
Oops, I should have seen that!
Also - Steem was mostly pretty flat during the time of the SBD boom in 2017. It's my view that eventually excess SBD value was channeled into Steem by a slow mechanism, and that's what caused Steem to have a boom significantly after the rest of the crypto space.
A full causal analysis is very difficult, but we are in a unique position where Steem vs Hive is nearly a like for like, A/B test. Perhaps with a few months more time we will have the kind of data that we can say with confidence what kind of causal link there is if any.
I'm looking forward to a potential analysis in the coming months. I think i said similar a few weeks ago, but the best data might come to light at the end of the bull market - SBD swinging high then low, and hopefully HBD not going too wild in either direction.
This might not work, but how about this as an idea and I don't know if it helps stabilize HBD.
Use the savings wallet as a staking point like a defi pool, but it attracts Hive as an automatic percentage of curation as if it is active (for example 50%). This would give it a return of ~10% A year in Hive, less than curation, but far better than a bank. Can this pool of Hive be then used to further stabilize HBD?
I think this would may also create some market scarcity and push the price of Hive up, as it gives a bit more passive use case to holding Hive on chain, rather than on exchange.
NB: I have no idea how to stabilize a token :D
I definitely agree with providing more rewards for locking up capital (including HBD) in Hive. There was already intended to be a 10% interest for merely holding HBD, perhaps a relatively simple change would be to have two interest rates, a lower one for unlocked HBD and a higher one for locked HBD.
I think it might give a very good use case to the savings wallets and incentive to hold tokens. Bringing back for example 100M tokens from the exchanges for a 10% return would still have additional benefit for active stake, as it would create a driving price and make earning on chain more lucrative. Eventually, some kind of equilibrium would be found I assume.
The model that a number of stakeholders have discussed is to just have the interest rate for liquid HBD be zero and if you lock it up in savings (effectively 3 day staking), you get the specified interest rate (currently 3%, but could be higher, and could be higher still if it weren't paid for all HBD, only locked HBD). I think that is sufficient for a next step without needing the complexity of multiple interest rates. It serves the purpose of giving a reward for buying and holding, and saves some cost paying interest on liquid HBD for people not intending to hold for a significant period (or clueless) who don't care about that interest.
One could also imagine something more complex, with multiple staking periods and interest rates and such, but let's not go overboard dealing with an asset circulating 6 million tokens currently. Small steps, maybe bigger ones later.
Block and ignore posts?
On my screen it's called "mute", and only works on members, not posts.
It depends on what client application you are using. Muting hbd.funder should suffice if you don't want to see it on trending page.
Posted via D.Buzz
I agree, it's short term thinking, and it's the wrong sort of demand for a token.
There is already a solution implemented in HF25. Conversion of HIVE to HBD.
Honest questions
Why don't we wait for HF25? Why are we doing this instead?
Why is it simply thrown into the Hive.Fund? Why not burn it.
Surely with nearly 900 Hive being added into the fund every hour and currently sitting on 76.6 Million Hive it's not really needed and could be better used elsewhere in another function.
Correct me if I'm wrong but 900 hive each hour over 24 hours is $16,000 not $3,600
Thank you kindly for taking the time to address those questions I appreciate it
It will take some time to achieve the goal. In the meantime, it is adding buying pressure to HIVE.
Does your price-feed include the internal market? If so, would it measure up on a volume weighted basis?
The info on how the hbdstabilizer account works is described in the posts listed in the article.
I am well aware how it is supposed to work.
It turned from a stabilization effort into a trading bot that sometimes crowds out funded proposals.
Great job!!
!WINE
Congratulations, @cryptoaeneas You Successfully Shared 0.100 WINE With @hbd.funder.
You Earned 0.100 WINE As Curation Reward.
You Utilized 1/2 Successful Calls.
Total Purchase : 24816.918 WINE & Last Price : 0.290 HIVE
HURRY UP & GET YOUR SPOT IN WINE INITIAL TOKEN OFFERING -ITO-
WINE Current Market Price : 0.270 HIVE
Great initiative.
Great job. Have a nice day
Serius?
Usefull update
I am a new user here can anyone help me
Hi 👋, What do you need help with!!?
Great job
wow nice move. Hope everything works out at the end. I want i stable HBD
Dont know if this really works, people is dumping hive and buying HBD moving it to upbit where they buy hive again a lot cheaper... Internal market should fix the price of HBD for this to work...
The account is selling HBD to buy HIVE every day. The price on the internal market is 100% based on what buyers and sellers are trading at on the market.
Nice to her about this, so lets make a lot of great news
What a good strategy !!
What are the benefits
Hey @hbd.funder, I like what you are doing, but as @michealb said, you need some new graphics.
I took some time and made you 3 options, in 3 different styles.
Much love and best O' Luck! :D
I think it's great, Hive is the future, we are growing and in a short time Hive is going to give a lot to talk about. The investment in hive is safe and with a very good growth expectation.