We REALLY need to sort out HBD

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HBD is still some way off being a stable coin because the stabilizer still has plenty of distance to cover. It is a frustrating situation I must say and I really hope that things could get better in the near future.

FOr those that don't know about it, HBD is probably the only stable coin that is attempting to be genuinely decentralised. Unfortunately, we can't exactly call it stable until we manage to work out the kinks.

The importance of a genuine algorithm stable coin that is exploit-resistant has immense potential. I believe that it could be a huge selling point for Hive as a whole.

Beyond HBD stable coin, Hive has immense potential due to the underlying technology. Fast and almost free transactions, combined with a thriving community is a very good look.

In fact, even if you take out HBD completely from the equation, hive would still be awesome. However, the presence of HBD presents a challenge that the community must tackle together.

I believe that, while not necessarily being the centrepiece of the blockchain, HBD has the capacity to "unlock" Hive's potential. It could be the push that the blockchain needs to be propelled into the spotlight.

Don't get me wrong, many people already know about Hive and they don't use the blockchain intentionally. Virtually everyone in the crypto space heard about the fork and even if they didn't, they've heard of Splinterlands, at least.

Urgency

At this very moment, HBD, a stable coin that is meant to be trading at $1 is trading at 88 cents. That's 12 cents off the target and that is a huge margin in the stable coins realm.
In fact, it was this sort of deflection that led to a wicked panic and eventual bank run in Luna.

Fortunately for us, Hive works quite differently and in due time, the value of HBD will be stable-ish. Unfortunately, this still kind of makes HBD quite risky to hold.

At the same time, such a huge deflection from the peg also means that HBD is not a dependable stable coin. In fact, people that have USD bank accounts will feel safer simply just selling Hive for the normal dollars and that could, in turn, drain value from Hive.

Of course, your dollar in your bank account savings doesn't offer 20% APR and while this is consolation, it doesn't take anything away from the fact that we need to get HBD right.

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HBD is trading at $0.988 (pHBD) and $0.982 (internal market).

Coingecko is just displaying wrong data, from Upbit and Bittrex (no volume or liquidity there).

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Oh I see. Those prices are much better, although not $1 but far better than what Coingecko is displaying.

Is there a way we can sort out Coingecko's tracking? That's not a good look for Hive at all, especially if we're trying to attract external investors that probably check Coingecko and Coinmarketcap that is currently displaying 91 cents?

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They take their price feed from whatever (major) centralised exchanges the coin is listed on.

For us, that means Upbit and Bittrex...

So the solution is for more exchanges, like say Binance, to list HBD.

You could make an argument that they owe us this one following their role in the Steem hostile takeover!

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Definately a relief, to know it isn't 88 cents. BUt I share your concern for that low price, even if this is the Hive community, 88 cents could make some withdrawal their funds. Terraluna was no joke.

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(Edited)

I was about to write the same! Coingecko is not what should be looked at as an indicator....

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Coingecko is useless for that feed. Bittrex has not volume for HBD and Upbit is closed to most of the world.

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yeah FBSLO mentioned it earlier. Isn't there a way to sort it out because the prices on Coingecko and Conimarketcap is what the outside world will assume is the price.

I don't know, I feel like Coingecko and Coinarketcap are doing us a disservice

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Fortunately for us, Hive works quite differently and in due time, the value of HBD will be stable-ish.

This is actually one of the things I love about HBD. Being stable-ish I like buying these dips. Sometimes I have to hodl for a while, but eventually, we return to that dollarish range. It's easy money, unless a black swan completely tanks HIVE. I'm pretty confident in the project, so I don't really worry about it "that much" 😂

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The value of HBD has gone up back by the time of writing but I agree with you, I think more liquidity needs to get there before this coin can be stablelish and we are the one that can help in that so I think we should be urged to at least keep some thing in the stable part of hive although not financial advice.

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