RE: Recent Run In Hive Shows The Need For HBD
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Hive wants hbd for the same reason the fed wants fiat. The devaluing nature of hbd lowers our debt every year.
Also hbd is governed by oracle price feeds. We can stop it from devaluing if we choose to do so.
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The issue is the token's name will always indicate it should be pegged to the dollar. People will sell above $1 or buy below. So in effect, the FED controls it.
I mean it's very hard to take you seriously because you essentially just said the FED controls HBD because "dollar" is in the name we gave it. It's not hard to change the name and what its pegged to.
The FED doesn't control shit, and the devaluing nature of HBD actually helps people who hold Hive.
It's a win/win in pretty much every scenario.
Well the fed controls the dollar and that is what HBD should track in everyone's minds.
I agree, it's all positive for hive.
To what extent does the FED control the dollar?
They can't control demand for the dollar, only the supply.
And even then the way that the FED operates is well beyond 99.9% of most people's understanding. (including me)
This idea that the FED "controls" the dollar and therefore controls all derivatives of the dollar is provably false.
They can barely handle their own currency, let alone all the derivatives of it.
I guess that is true, but ultimately as shown by covid they can massively devalue it on call. And yes the market decides its price, and yes its asset purchasing and credit creation, but they have ultimate power at least in short term.
If they wanted to increase the price they can just slap a few % interest and they know the market would adjust.
Its an interesting conversation, and many factors at play.