Firstly, thanks a lot for this long article and for caring about hive. I'm on board for a long time and I have seen haircuts on the old chain. This is actually a good mechanisme because if hive prices drop much lower, then the according hbd will also drop accordingly. The value that DHF extracts will drop in value. The problem is that this haircut level was much higher in the past and it has been put at 30% which is actually bad for exactly the reasons that we see now.

I however see a silver lining, if prices drop even more, people who really care will be able to purchase more hive for little money and it might change the oligarchy at the top of the pyramide.

In my opinion having the DHF is the same like countries that have oil reserves. It becomes the only income source and corruption increases. It's an easy income source that few powerful distribute but it prevents people from looking for real business opportunities....