The Most Undiscovered Gem Of Hive
There is a bit of chatter on Twitter about HBD. Evidently there is an account with over 600K HBD in it. This is a payout of around $10K per month.
This is the value of having a fixed income product on the blockchain.
In this article I discuss how we have the potential to make HBD the center of an entire economy that is multi-layered and extends in many different directions.
It is the undiscovered gem of cryptocurrency.
▶️ 3Speak
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Interesting well it might happen
Thats extremely interesting, 10k payout per month. Fantastic that we're starting to see people come across and utilise Hive and its many assets.
Fantastic news for a Monday
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Sorry for the nub question, but what's the "Haircut limit"? What must happen for us to not be able to convert HBD to Hive?
BTW, can't wait for the rest of the series!
Thank you for doing this 👍
If the value of all of the HBD exceeds 30% of the value of HBD+HIVE, you can still convert HBD to HIVE but the converted value will be reduced. Last I saw the ratio was under 10%, so this is not close to happening, and it hasn't gotten to that ratio ever, but it is something to keep in mind as being possible.
The HBD foundation is looking pretty solid and I think it's pretty amazing to see that much interest being generated. What is that account doing with that HBD?
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In order for the risk profile of HBD to be more attractive than other possible investments there is a necessity for the fine details to be made very transparently clear - the entire mechanism and system needs to be visible - which it has never been. In my whole time on Hive (and Steem) I do not recall anyone ever producing diagrams that facilitate understanding of the various processes involved with HBD/Hive.
Key points that should be made abundantly easy to understand for any investor:
These issues need to not only be exhaustively answered in easy to read reports and documents, but they ideally need to be tied to references in source code so that they can be evaluated properly in a professional way. Until this kind of work is completed, there will be a relatively small limit to the amount than any investor is likely to put into HBD.
Summary:
In this video, Task discusses Hiveback Dollar (HBD) on the Hive blockchain. He explores the concept of staking HBD for an annual return of 20% and highlights the significant potential it offers in terms of generating monthly income. Task emphasizes the sustainability of the 20% return and delves into the importance of mitigating counterparty risk in traditional financial systems compared to the blockchain-based HBD savings. He explains the benefits of HBD savings, such as security without smart contracts, and touches on the stability mechanisms and derivatives associated with HBD. Task envisions HBD as a pivotal element in building a robust currency system within the Hive ecosystem, promoting economic transactions and trade. He stresses the decentralization and resilience of HBD while also addressing misconceptions about currency value.
Detailed Article:
Taskmaster4460's latest video delves into what he considers the most undiscovered part of Hive – Hiveback Dollar (HBD). Task expresses his belief in the untapped potential of HBD and announces his upcoming series of articles dedicated to exploring this aspect further. The inspiration for this video stemmed from a tweet by Khal regarding a post by Dalles on HBD.
Task sheds light on the possibility of staking HBD for an attractive 20% annual return, highlighting a scenario where an individual holding a significant amount of HBD could potentially earn $10,000 per month. He asserts the sustainability of this return, suggesting that 20% might even be on the lower end considering the long-term requirements for HBD creation.
One of the key points Task emphasizes is the concept of counterparty risk prevalent in traditional financial systems, which can be mitigated by utilizing HBD savings on the blockchain. He contrasts this with risks associated with platforms like FTX, U.S.T., U.S.D.C., and Celsius, making a compelling case for the safety and security of HBD savings due to the absence of smart contracts.
Furthermore, Task delves into the accessibility and security features of HBD savings, outlining how it operates through various front ends such as HiveBlock and HiveWallet. He stresses the blockchain's role in safeguarding funds and emphasizes the ability to convert HBD into Hive, thus ensuring liquidity when needed.
Moreover, Task envisions HBD as a cornerstone for building a robust currency system within the Hive ecosystem. He elucidates on the role of currency in facilitating trade and transactions, highlighting how HBD can fuel the hive economy by promoting economic activity and financial interactions. Task challenges common misconceptions about currency value, advocating for the decentralized nature of HBD and its potential to remain independent of governmental influence.
In conclusion, Task underscores the significance of HBD as a fixed income instrument within the Hive ecosystem, catering to individuals seeking yields or engaging in speculation. He positions HBD as a unique offering that combines both yield and speculation, providing users with unparalleled opportunities within both the cryptocurrency and traditional financial realms. Task's comprehensive analysis establishes a compelling case for the transformative impact HBD can have on the Hive ecosystem and beyond.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.