I just read this post from @ats-david and a similar post from @themarkymark about how interest is now being paid on Hive backed dollars.
Two things immediately sprang to mind.
Firstly, I was under the impression that mechanisms were in place to keep HBD pegged at $1 and there is a constant battle to keep it there. Surely giving interest on holdings will only encourage people to buy more on the markets as some sort of stable investment vehicle that does not require you to perform any sort of task on the chain. Demand creates price rises and thus it appears like some form of self-sabotage!
Secondly, I may be wrong but I don't recall seeing any huge community discussions about this. It just appears to have materialised and been implemented out of thin air. Surely as a fundamental change to the blockchain's economics, there should have been debate and discussion. Where exactly is this 3% coming from? I did see one answer to this that said:-
The blockchain will issue it
Regardless of what my opinion is of this, I feel a little uncomfortable about the way it has been implemented.
What are your thoughts please? Good news or bad?
@spectrumecons, I would love to hear your thoughts on this please!
