RE: Pretend the HBD haircut already happened. What would you do? A Cry to witnesses, holders and Hive full-time employees

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RE: Pretend the HBD haircut already happened. What would you do? A Cry to witnesses, holders and Hive full-time employees

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mrtats in Ecency • 15 days ago

Some of you really do not understand what cutting HBD APR means. There is 7 million HBD in savings at this time.

Let's say you dropped APR to 4% as some of the commenters have said. Why would someone put their money in HBD savings when they can just buy some T-bills and have the same return?

Why would someone accept the haircut risk for basically no return?

Well, that would lead to a massive wave of HBD conversions, and at current prices that would be 145 million Hive.

And I am going to add that, I am no longer comfortable with holding HBD at 12% APR with %30 debt ratio looming closer. I'll be converting around 20K HBD in the next few days that are going to be dumped on the market.

15 days ago in Ecency by mrtats

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antisocialist 15 days ago

Dumping at the atl instead of powering up doesn't make sense to me.
With price this low getting out now is a loss, imo.

Whereas, if you power up, you can take some away from the people that have made things this way.
Selling more to them only increases the problem.

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mrtats 15 days ago

Dumping at the atl instead of powering up doesn't make sense to me.
With price this low getting out now is a loss, imo.

I am getting out of the HBD, which then would be dumped. I am not powering down and dumping that. Powering up that amount of Hive at this moment, doesn't make much sense to me. Where I can better use that money elsewhere.

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stayoutoftherz 15 days ago

Who dumps Hive at the all time low?

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mrtats 15 days ago

It is liquid Hive that would come form converting HBD. And the funds would be better used elsewhere than Hive.

And since it is coming from HBD converting, Hive being in all time low doesn't matter in the slightest.

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daveks 14 days ago

Holding decentralized hbd, even at a low rate, keeps power in my hands as opposed to giving control to Bank of America or scotia bank or choose your bank.

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mrtats 14 days ago

We are close to 30% debt. Price needs to be 0.0410, if it goes below that your HBD no longer be valued at 1 USD.

But you do you, I am not here to give investment advice.

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achim03 15 days ago

I totally understand your point and that's exactly why this whole 20% APR on HBD was a mistake. It was originally meant as a way to attract investors in a situation where other systems were paying similar interests. Some users on the chain with influence thought that hive needed to compete with that. APR of saving was increased but, honestly it attracted very few people from the outside.
The problem with that was that the interests on HBD were non programmatic inflation that was added to the organic inflation of the chain. Meaning that for an external investor it was not visible at what rate the inflation was evolving, which killed trust and therefore was actually the reason why investors didn't come.

So what is the solution? I don't really know but if I were in your shoes, I would do the same and sell the HBD as long as they are still worth close to one dollar. In the end, nobody will say thanks when you lose a lot of your captial...

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mrtats 15 days ago

20% APR could have been a tool for times like this, where it would have hoovered ton of Hive from markets. Alas, we are here.

And for the record, I did bring tens of thousands of dollars from outside the Hive. External investor doesn't necessarily mean someone that doesn't use Hive, it just means that funds should have originated outside of Hive.

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por500bolos 14 days ago

I'll be converting around 20K HBD in the next few days that are going to be dumped on the market.

Holy Smokes @mrtats!! 20K HBD that you are going to dump on the market? Gasp...

Where'sTheMoney.gif

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mrtats 14 days ago

It isn't hidden, you can find it in my accounts.

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por500bolos 14 days ago

In which ones? Because I already checked and couldn't find even a fifth of those 20k HBD to be dumped.

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mrtats 14 days ago

You didn't look hard enough.

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por500bolos 14 days ago

You didn't look hard enough.

LoL, that's what you think.

From where did you get those screenshots you're showing me?

Because I already checked all the accounts from @farmerfarm0001 to @farmerfarm0019 and a few others without find enough fat to make a 25k HBD soap.

And since it's likely that I was indeed a little lazy and didn't look hard enough. Perhaps It might be relevant for me to tell you that I also did check your financial transactions on chain from July 27, 2022 at 10:04:42 UTC onwards and happened the same: I couldn't find enough soap worth dumping at the markets to make it lather.

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mrtats 14 days ago

Perhaps, you should have been smart and checked @mrtats.cold

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por500bolos 14 days ago

Hahaha, I really don't know what makes you think that. Of course I also checked the account of @mrtats.cold, @mrtats.dunk, @syndicate1, The Bazaar and many others. So you must have taken those screenshots from a more hidden place.

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mrtats 14 days ago

https://hivehub.dev/tx/f840e93016232873e677f9a7585c5cd88535c02c
https://hivehub.dev/tx/da20c65bb0352364c667ff0bf41eff0dfe16b001

Then you should work on how you check things, it is clearly deficient.

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