HBD Interest Payouts For July 2022

in #hive-16792211 days ago

hbd.png

Hello August! What a great start of a new month for Hive. In the first hour of August by UTC time, the price of Hive went up from $0.52 to $0.72. I have no idea what the reason is behind the price jump, it is great to see this price action. Hopefully, it will continue in a long. Even if it a short time movement, it's ok. For most of us anything below $1 for Hive is too low anyway. Hive is a billion dollar network, and it has reached this market cap in the past. And it will do so again when the time is right.

July has come and gone. The month was very hot in many part of the world. I am glad we are approaching a cooler season now. There was some interesting price action in HBD world as well. For the month part of the month HBD price was eventless, boring and stable as we would have expected. Ever since it was suggested pHBD price chart is a better indicator of the HBD prices, that's what I have been using to monitor how stable the price of HBD has been.

phbd.png

As you can see above, pHBD price from the CoinGecko shows how HBD price has been holding $1 USD peg really well. That is until July 25, 2022. On this day the price of HBD jumped to about $1.7 for unknown reason. Some people even criticized HBD as being not actually being a stable coin because of this sudden price movement. But they ignore the fact how fast the price went back down to the peg. This movement should actually prove that HBD is a great stable coin.

Anything that is traded in open markets will have price movements. Same is true with fiat currencies. Their prices fluctuate against other fiat currencies all the time. The price is always determined by the supply and demand in the market. What makes HBD a good stablecoin is it is able to correct the market price by how it works. Whenever the price is above $1, we can be sure HBDStabilizer is actively working in making profits for Hive Decentralized Fund. Those who buy HBD above $1 price point, effectively donating to DHF. Also, traders who know how HBD works also try to take advantage of arbitrage opportunities.

So, upward movement of HBD price results in net positive for the network and HBD itself. It results in profits for DHF, and proves that HBD peg works. Those of us who got used to receiving 20% APR are just happy keeping HBD in savings and price movements don't bother us. Because we know when we need to cash out we will be able to convert HBD for exactly $1 worth of value for each HBD.

The latest CPI report showed that inflation rose to 9.1%. This too shows the benefits of keeping savings in HBD as counter measure to the value loss due to the inflation in USD. Some people still question the sustainability of offering 20% APR by Hive. I think it has been clear by now that 20% APR is just fine and sustainable. We didn't see massive inflow of funds into HBD, although the interest has been slowly increasing. As long as HBD growth rate is steady and we don't find ourselves in a situation where there is a massive minting of HBD without any impact on Hive price, Hive will be just fine and will be able to pay 20% APR for a long time.

It's time to look at the HBD payout numbers for July 2022.

Total HBD Interest Payments & Accounts By Month

MonthYearTotal AmountTotal Accounts
March202110,429 HBD6,415
April202112,208 HBD7,106
May202116,574 HBD7,250
June202138,883 HBD7,167
July20211,696 HBD682
August20215,646 HBD1,062
September20212,570 HBD1,129
October20214,914 HBD1,239
November202110,931 HBD1,482
December202119,004 HBD1,655
January202219,740 HBD1,843
February202214,775 HBD1,654
March202226,506 HBD1,827
April202235,223 HBD2,357
May202266,025 HBD2,471
June202255,929 HBD2,253
July202262,053 HBD2,440

Looks like there have not been any big changes in the total interest payments and number accounts receiving these payments. The went up a little bit compared to June numbers. Nothing significant here. Boring! Boring is good in this case. We don't need any unexpected surprises. Slow and steady growth is the best for any stablecoin.

Top 300 HBD Interest Payments For July 2022

#NameAmountDate
1mika14226.5632022-07-25 18:22:42
2muenchen3435.3152022-07-11 18:14:39
3shitposter1658.7602022-07-28 18:18:27
4p-hbd1604.1032022-07-28 04:58:06
5parkman1459.1542022-07-06 03:18:48
6smooth-a1447.2732022-07-03 21:03:15
7apshamilton1165.3332022-07-06 14:31:03
8vaultec1105.8612022-07-04 19:41:00
9alpha1092.5482022-07-09 20:44:27
10lucius.banda1054.9282022-07-28 07:58:36
11investegg1001.0362022-07-10 22:58:48
12feruz931.5812022-07-19 17:58:24
13piggybox-002889.7992022-07-06 04:38:54
14foreveraverage675.0732022-07-26 21:56:30
15organduo670.7992022-07-04 04:51:30
16piggybox-001589.7422022-07-03 08:35:03
17cryptonized561.9052022-07-25 07:40:30
18hbdsavings529.1432022-07-01 12:33:30
19ehon523.9892022-07-24 15:41:18
20healthsquared523.9712022-07-20 05:05:54
21chewsk1509.4212022-07-16 20:40:18
22fbslo502.1802022-07-01 23:28:18
23hbdsavings494.5482022-07-31 20:17:21
24bravenewcoin417.2722022-07-28 01:47:27
25prinzvalium402.9822022-07-04 07:04:39
26deathwing382.7782022-07-25 08:36:45
27silentscreamer370.4062022-07-13 10:20:42
28magicmonk368.0612022-07-25 09:56:45
29eonwarped337.4392022-07-30 15:13:21
30yunnie324.7472022-07-06 03:32:54
31thevenusproject318.7292022-07-14 17:08:30
32onthewayout318.3712022-07-30 01:42:39
33stoodkev315.0282022-07-14 15:25:57
34pharesim306.7542022-07-08 09:26:30
35lordbutterfly291.2592022-07-15 10:34:27
36nuttin285.5502022-07-31 10:36:24
37nuttin268.1272022-07-01 10:31:15
38coinmint257.5702022-07-12 07:15:15
39nftstudios251.6432022-07-08 01:30:51
40oflyhigh251.5282022-07-23 02:08:36
41borislavzlatanov239.5812022-07-07 16:33:51
42mistergreen235.4572022-07-17 03:48:03
43taskmaster4450le224.9492022-07-22 14:04:06
44slobberchops215.5232022-07-10 12:21:15
45namelessnameless208.9872022-07-18 15:13:51
46hiddenblade206.5002022-07-08 19:02:21
47goldstreet204.5762022-07-30 02:23:45
48eidolon180.5712022-07-24 11:12:00
49konvik-cold175.7962022-07-23 22:47:33
50dwayne16171.2212022-07-16 09:26:30
51yogajill169.2282022-07-29 20:30:27
52hivecreators166.0402022-07-10 00:09:03
53hiveauth165.9822022-07-07 17:54:33
54dmwh162.9342022-07-12 03:05:21
55watchlist160.5602022-07-19 05:02:03
56v4vapp.dhf159.5482022-07-31 05:13:42
57lunaticpandora157.7662022-07-04 18:54:33
58krasnec156.8462022-07-24 11:16:30
59sm-silva150.3362022-07-26 01:11:39
60youtuberin150.0902022-07-24 08:47:39
61quochuy147.7372022-07-16 07:54:09
62v4vapp.dhf146.2752022-07-01 05:05:06
63deanliu142.2932022-07-16 01:34:06
64spinvest141.9302022-07-31 02:49:30
65city-of-dresden139.6912022-07-15 05:34:42
66solominer.stake139.1292022-07-16 13:28:57
67peakd138.0332022-07-25 06:53:39
68achim03133.4552022-07-25 09:55:45
69niokululu132.7522022-07-08 21:28:30
70santiagolaw127.6952022-07-01 17:26:51
71cryptosimplify126.8212022-07-13 22:23:15
72d-pend124.9732022-07-17 14:31:12
73teammo123.8322022-07-16 14:47:54
74belemo118.4662022-07-05 08:00:33
75photofeed117.8552022-07-17 08:04:12
76howweroll116.5502022-07-02 16:21:39
77ecobanker115.6592022-07-01 12:17:57
78risingstarhub114.5352022-07-11 16:53:48
79trumpman113.1862022-07-13 14:30:51
80deepresearch109.7972022-07-21 18:49:06
81geekgirl109.7452022-07-18 15:44:42
82piggybox-003108.2982022-07-03 07:38:33
83travelfeed106.2912022-07-13 19:47:24
84yann0975103.2592022-07-19 06:48:36
85holoz0r102.3972022-07-06 03:45:09
86jarvie100.8542022-07-19 02:18:57
87meesterboom99.9792022-07-17 13:54:21
88thelittlebank97.7542022-07-31 22:06:03
89frank1in97.1812022-07-10 09:45:15
90keychain96.9452022-07-21 08:15:27
91engrave.cold94.8022022-07-07 11:56:39
92walterjay92.3692022-07-11 21:54:03
93maxsieg92.2922022-07-26 15:38:09
94thelittlebank92.1572022-07-01 19:27:48
95silverstackeruk86.6132022-07-21 10:02:12
96martibis85.6602022-07-05 15:01:39
97piggybox-00485.5852022-07-18 15:06:42
98r2cornell84.9242022-07-06 22:22:09
99pouchon84.0572022-07-27 22:44:27
100hivevault83.3422022-07-11 06:26:24
101richie.rich83.0052022-07-05 17:55:12
102mistakili81.0102022-07-14 10:23:27
103krishool80.6532022-07-17 07:26:54
104detlev79.7712022-07-08 08:23:36
105raiseup79.0252022-07-25 07:13:51
106bozz77.5862022-07-03 14:20:21
107superhive75.4662022-07-21 11:44:36
108communitybank74.6852022-07-11 06:28:42
109pandasquad73.6022022-07-18 17:50:27
110muterra73.0172022-07-29 08:25:12
111rezoanulvibes72.1062022-07-04 09:23:12
112guiltyparties70.4062022-07-26 00:32:21
113blrog70.0572022-07-11 15:51:00
114beststart68.7952022-07-16 20:19:39
115fundacja68.7382022-07-10 21:19:00
116hrichakar68.5652022-07-25 06:23:18
117taskmaster445068.0022022-07-03 17:17:30
118brumest67.6912022-07-06 11:27:18
119raycoms67.6242022-07-30 14:49:27
120steemvault66.6772022-07-11 06:26:57
121strawhat66.3492022-07-22 04:56:48
122fredrikaa62.1392022-07-16 10:01:33
123r351574nc361.0992022-07-26 01:23:45
124lemouth60.9502022-07-07 08:41:00
125ironshield60.4652022-07-26 14:34:42
126vimm59.6752022-07-17 21:04:51
127susanli376959.2642022-07-01 00:44:21
128acidyo59.2282022-07-22 17:36:57
129nostalgic121259.0742022-07-14 00:42:00
130hivestorage58.3272022-07-08 17:39:57
131marthaehinome58.0632022-07-25 10:38:48
132vevette57.9472022-07-04 08:41:45
133nbs.gmbh57.8812022-07-12 20:48:48
134steemflow57.6802022-07-21 04:03:09
135michelmake55.7242022-07-25 18:32:03
136susanli376955.2792022-07-31 13:52:18
137catinthewindow53.5482022-07-11 07:15:18
138competeapp53.3312022-07-25 10:02:03
139uwelang52.9502022-07-08 10:35:45
140ewkaw52.5002022-07-17 23:30:39
141neoxian51.6742022-07-22 17:22:03
142kenny-crane50.9462022-07-29 14:13:36
143cryptog33k50.1362022-07-20 16:47:48
144primersion50.1012022-07-03 20:25:15
145niallon1149.8872022-07-28 22:49:42
146anacristinasilva49.2172022-07-17 02:10:09
147abit48.3482022-07-27 14:05:54
148mathowl47.7772022-07-22 22:02:12
149cflclosers47.5972022-07-10 20:15:48
150ipromote47.1412022-07-28 10:01:48
151blewitt46.4432022-07-14 14:43:00
152steemaction45.4822022-07-01 14:51:48
153zuerich45.1452022-07-04 05:14:03
154grindle44.3732022-07-20 05:48:27
155techcoderx43.5082022-07-13 01:37:03
156livinguktaiwan43.2482022-07-25 08:17:57
157monochromes43.0282022-07-22 23:26:54
158celestal42.1722022-07-24 07:54:06
159irenenavarroart41.6782022-07-14 00:13:54
160hallmann41.3952022-07-20 00:15:15
161charsdesign41.2452022-07-01 19:53:54
162thekittygirl40.7852022-07-02 15:34:57
163mimi.ruby40.0222022-07-11 09:30:12
164evahe39.4142022-07-25 06:15:39
165fedoraonmyhead39.3572022-07-22 02:08:12
166nftmart.wallet39.1692022-07-20 04:05:09
167ragnarokdel39.1632022-07-06 01:59:03
168anarcist6938.6832022-07-23 00:16:21
169shaunmza38.3492022-07-14 20:04:03
170flemingfarm38.2052022-07-01 19:45:21
171chesatochi38.1042022-07-26 10:14:03
172osak37.7532022-07-24 11:15:09
173sjarvie537.4952022-07-10 16:30:00
174behiver37.4082022-07-26 17:50:06
175bulldog120537.3932022-07-21 23:31:42
176lovequeen37.3692022-07-18 05:19:30
177captain.kirk37.2602022-07-12 18:00:42
178djugana37.2122022-07-07 16:35:45
179crossculture37.1332022-07-01 05:14:51
180johnhtims.life36.9212022-07-01 19:44:24
181dalz36.6702022-07-14 20:23:21
182winniex36.5272022-07-02 14:09:51
183kaylinart36.0072022-07-20 19:07:39
184sketch.and.jam35.8512022-07-31 17:09:03
185nuthman35.8212022-07-16 21:38:03
186singhcapital35.7652022-07-11 17:58:57
187hakeke35.4312022-07-09 11:47:51
188leaky2035.3342022-07-28 15:12:15
189josediccus35.2622022-07-11 06:15:42
190silversaver88834.9582022-07-01 03:22:24
191crimsonclad34.9162022-07-06 18:38:36
192therealwolf34.5282022-07-25 07:43:15
193kolbjorn34.0722022-07-09 18:17:09
194contrabourdon33.7682022-07-12 23:17:03
195bdmillergallery33.5032022-07-24 22:26:54
196investingpennies33.3362022-07-11 06:24:54
197beta50033.3352022-07-11 06:25:30
198toofast-ace33.0322022-07-09 17:18:36
199wrestorgonline33.0092022-07-26 22:25:21
200kaerpediem32.7852022-07-14 04:35:27
201mrspointm32.5922022-07-30 02:05:09
202sanjeevm32.0602022-07-14 05:59:12
203fermionico31.9992022-07-27 01:51:09
204hermes.apocrypha31.9942022-07-29 20:24:24
205kheldar1982a31.8952022-07-18 20:06:30
206genesishealthy31.7872022-07-18 21:20:18
207anneadam31.4092022-07-17 16:41:24
208joshman31.3742022-07-29 00:39:30
209thebeardflex31.2812022-07-25 22:42:54
210theb0red131.1812022-07-07 06:25:15
211calimeatwagon31.1322022-07-11 01:04:15
212louis8830.9702022-07-13 00:07:57
213phusionphil30.9242022-07-21 07:28:51
214skenderbeu30.7682022-07-04 17:29:03
215robibasa30.4622022-07-15 22:58:39
216choism30.2172022-07-15 13:23:54
217fermentedphil30.1822022-07-06 08:24:33
218mipiano30.0572022-07-01 06:36:51
219montanita30.0292022-07-25 12:13:42
220shauner30.0192022-07-22 18:42:24
221hive-17458129.8252022-07-15 13:23:00
222mipiano29.5492022-07-31 21:31:36
223heikki133729.2042022-07-17 20:05:39
224xg402828.7492022-07-11 06:54:42
225charsdesign28.7462022-07-31 21:43:57
226thebluewin28.6142022-07-29 20:53:18
227hiveph28.5232022-07-01 03:43:54
228danmaruschak28.3842022-07-09 10:52:15
229sandymeyer28.1992022-07-31 08:47:42
230dmilliz27.9402022-07-19 12:36:15
231danielhuhservice27.7602022-07-14 05:16:00
232toofasteddie27.5562022-07-29 21:07:42
233selfhelp4trolls27.5012022-07-25 09:18:48
234gadrian27.2642022-07-07 06:42:27
235bitrocker27.0872022-07-06 09:10:24
236papilloncharity27.0802022-07-19 20:45:45
237orestistrips27.0202022-07-16 06:02:27
238mrpointp26.6742022-07-30 02:14:06
239seckorama26.5332022-07-01 09:29:48
240emmali26.3142022-07-01 00:46:57
241offgridlife26.2922022-07-09 07:57:21
242mangowambo25.9412022-07-28 17:42:36
243balaz25.6562022-07-26 06:51:33
244arcange25.5072022-07-20 13:05:15
245adambarratt25.3712022-07-16 13:38:24
246alexvan25.2902022-07-09 22:23:51
247abdex925.1102022-07-04 20:28:36
248condeas25.1072022-07-04 11:05:06
249v4vapp.tre24.8172022-07-23 05:02:24
250emmali24.5532022-07-31 13:54:09
251alexpmorris24.3192022-07-19 16:17:30
252dera12324.1962022-07-18 14:06:39
253archon-gov24.1232022-07-24 19:11:57
254jedigeiss23.5602022-07-24 09:41:54
255tattoodjay23.2782022-07-09 11:02:27
256zokka8223.0522022-07-19 13:22:45
257priyanarc23.0332022-07-11 09:07:27
258empress-eremmy22.6312022-07-30 05:21:39
259albuslucimus22.4952022-07-15 17:55:48
260tomhall22.3882022-07-17 16:11:30
261carrinm22.2612022-07-06 01:30:36
262bluerobo22.0672022-07-31 13:34:36
263artbymitrai21.9872022-07-22 19:57:21
264epic-fail21.9162022-07-14 03:55:18
265sponge-bob21.9102022-07-26 20:45:06
266choogirl21.8262022-07-09 00:34:42
267gwajnberg21.7642022-07-27 16:26:21
268mproxima21.6932022-07-06 13:22:42
269xuanling1121.3272022-07-17 21:51:54
270shimozurdo21.2762022-07-10 14:16:54
271obsesija21.0312022-07-26 03:58:09
272igormuba20.8762022-07-07 13:29:54
273mariannewest20.4062022-07-04 13:57:06
274stevieboyes20.3492022-07-27 09:30:36
275blockmine19.8032022-07-29 16:44:09
276eturnerx-honey19.7612022-07-25 19:15:30
277dante3119.7412022-07-12 14:44:00
278yole19.6642022-07-04 12:26:54
279matt-archy19.3232022-07-25 14:48:12
280generikat19.2932022-07-05 22:58:51
281dagger21219.2742022-07-08 04:10:33
282stephen.king98919.1402022-07-16 11:29:00
283schmidi19.0222022-07-22 13:22:24
284bil.prag18.8002022-07-14 01:04:45
285jznsamuel18.7932022-07-08 22:05:30
286goingbike18.7932022-07-01 13:39:51
287andyjaypowell18.7812022-07-21 16:31:18
288kaeserotor18.6512022-07-03 18:35:48
289vincentnijman18.5152022-07-21 14:12:42
290actifit-peter18.5042022-07-14 12:08:42
291darkflame18.4612022-07-24 16:08:09
292vcclothing18.4242022-07-30 05:54:51
293rodrook17.9302022-07-04 05:44:24
294khan.dayyanz17.8972022-07-20 22:30:45
295homesteadlt17.8902022-07-07 07:13:21
296doze17.8332022-07-23 16:29:27
297stefano.massari17.7242022-07-03 08:40:00
298juecoree17.6902022-07-09 10:05:51
299gabrielatravels17.6512022-07-26 06:59:45
300eggstraordinair17.3842022-07-04 03:58:21

Top 5 recipients are the same from the last month. It appears most accounts received more this month compared to the payments in June. This must be because of compounding and maybe adding other Hive rewards to their savings.

Have fun in August! Stay hydrated, away from heat and be safe.

Posted Using LeoFinance Beta

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The rewards earned on this comment will go directly to the people( @geekgirl ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

Certainly HBD has proved to be some great stable coin and its good to see people taking gain from the 20% interest.

Posted Using LeoFinance Beta

Unfortunately the 20% cannot last longterm. I believe it would be far smarter to focus interest on hive not HBD. It won’t end well long term. Maybe short term it does but as a Hive fan for life who loves this community I seriously fear the damage this can do if or when HBD fails peg wise and the attitude of many is they can switch it to rep something other then USD without pain. That’s simply not true.

Last a few day , HBD was jump to 1.07$ to 2.9$ . Before that day I made swap HBD to Hive for about some HBD. And then HBD price falling to 0.97$ and Hive jump to 0.72$. Also before that day I swap Hive to HBD back. 😅WTH Luck.

Sorry for your loss. Your movement should have been opposite. HBD is meant to stay near a dollar. $1.7 is temporary. If you had HBD at that price again, sell it, but back at $1.00.

Correct and I follow your idea. Now holding about 33$ HBD.Waiting up price hbd and fall hive price around 0.5 or something less.

Well, if you look at the graph in the post, the frequency at which the HBD goes suddenly to $1.70 is almost never.

My own action is to stick my HBD into savings. 20% per year but its 1.667% per month, compounding to 21.9% per year. I would take that before some low chance of a quick buck.

Well played! Looks like you had some great trading.

Haha ...you make just funny

I wonder if we will see a new shift this month being that Hives price is starting to get rather bullish. The price of hive has already crushed four years of locked up HBD rewards.

It's about time Hive prices did something interesting and surprising. Price actions drives more onboarding and engagement as well.

I think that the larger the supply of HBD in circulation is, the the great the stability of the stablecoin shall be both in terms of its longevity and its price range.

This type of thinking has led a large number of monetary systems to ruin. The banks expand the monetary system thinking that if their monetary system gets large enough, it would be too big to fail.

The process of ballooning the monetary supply actually introduces greater systemic faults into the currency.

But lets get back to HIVE. When the HBD supply is small, it is easy to manage the peg with a few simple algorithms.

When the supply of HBD becomes large, the algorithms start to fail. This is why the designers of HIVE built a haircut in to the system.

BTW, if you looked at the data from @geekgirl, you would see that the top 13 accounts hold over half of the HBD. Movements by the top accounts appear to have dramatic impacts on HIVE.

Indeed. But there is an increase to the quantity of HBD in the system right?

It's not done in 200% quantities per year, the growth in available tokens is gradual right?

As for the top 13 accounts holding half, almost everything in Hive and the world seems to be that way. But with constant movement in a "free" and non-resteictive movement there is a chance for the pie to be shared more evenly.

An example I see in my very humble viewpoint is the people I have onboarded from the start of the year.

Out of 10 accounts the bottom 5 add to less than half of number 4, 4 is half number 3 and number 1 among students is half my HP. Together, all 10 students now equal my HP... after some months.

Three months ago all of them together would not have been a quarter of my HP.

Only by having a lot of supply and more stakeholders can that sliding scale start to stabilize.

In a years time, instead of the top 13 accounts having 50% of HBD, the top 20 should have 50%, maybe the top 30.

Ten years from now the 50% should be held by hundreds of accounts. This would then lead to more stability as 200 individuals are less likely to upset the entire infrastructure than 13 accounts when some of them move.

Percentages in HBD interest payments don't mean anything. These numbers can changes at any point, and only by what financial decisions people make. Only those who are willing to risk to hold their money in HBD are receiving interest payments. This shouldn't matter anyway, because HBD is not a governance token.

The more important thing is the distribution of Hive Power, which makes the Hive blockchain more decentralized and stronger.

You are spot on!

That is true. But this can only happen with massive amount of interest to mint HBD. To mint HBD they people would have to buy massive amounts of Hive and convert to HBD. For that to happen, some whale would have to discover what HBD is and what it offers as an investment/savings instrument.

I'm pretty sure that as our numbers increase, there is a critical point where our combined internet footprint will attract big notice.

It feels really nice to see the price of both HBD and Hive increase and progress in other to stake and invest to benefit from it especially the interest attached to the HBD to enable more savings to occur.

In the first hour of August by UTC time, the price of Hive went up from $0.52 to $72.

Is this a typo or was it one of those weird exchange glitches? I'm guessing it's supposed to be 0.72 cents because $72.00 doesn't seem possible. Lol

ah lol. Yes, it is a typo. I will correct it. Thank you for catching it. That price for Hive would be nice, though.

Haha that price would be amazing. We would all be rich!

Whoops I didn’t see what u meant at first 😂
Yes if $72.00 hit I’m cashing 50% out and buying a house 😃

Unfortunately a typo indeed but still nice to be up 50% in a night

Haha yeah. Up to 0.72 cents is still a nice jump. I'll take it 😁

No it’s a real pump. Prolly won’t last so personally I’m selling some to buy back lower but we really here. For now 🙌

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I was surprised when I saw your post that Hive went up to $70 I checked the exchanges and saw that it was at $0.80 But it made a good move It is expected that the price will increase further

Sorry, it was a typo.

For the month part of the month HBD price was eventless

There was a major price manipulation of HBD. The price shot up to $2.59 on the 25th. The Financial Report from @arcange shows people withdrawing about a quarter of the HBD in savings. Withdrawing funds from savings freezes the money for three days. The accounts that withdrew were not able to take advantage of the price pop. They will lose a little bit of interest. This will probably show up next month.

I suspect that the current manipulation of the price of HIVE is related to the manipulation of HBD.

Anything that is traded in open markets will have price movements.

You are correct to note that HBD on external markets will always have strange movements. That is because the movements are related to the limited number of coins in the external markets. HBD can be used as a currency because the formulas of the internal market guarantees that people can get a $1 worth of HIVE for an HBD.

The stupid interest rate does nothing but set up the platform for price manipulation.

The big dip in the chart was largely due to the large HBD holders withdrawing their funds en masse. It appears that the mika account withdrew then redeposited $400,000 in HBD.

The big accounts make HBD unstable. Your data shows that the top 13 accounts received over half of the HBD interest. The top 217 accounts received 90% of the HBD interest. The top 300 accounts listed received 93% of the HBD. Considering that there's tens of thousands of active HIVE users, it appears that we created a situation where the top 1% receive most of the rewards.

The 20% interest on HBD is a bad structure that benefits only a few. The HBD spike that happened on the 25th and the HIVE price manipulation going on today show that we have a structure that is easy for the players in the world to manipulate.

I hope the price of HIVE stays high. Common investors in HIVE can't respond to the pump because there is a 7 day power down period.

I hope the price of HIVE stays high. You should do a query to see how many people launched a power down in response to the current bump in the price of HIVE.

I agree with your assessments in general and thank you for additional information.

I disagree with a conclusion that HBD interest payments are only there to benefit 1%. It is open for anybody who is willing to use this feature and earn stable income on their money. There is a risk of missing out for those who choose to use HBD savings though. These accounts will miss out on big Hive price movements. The system is fair and everybody is welcome to participate in interest payments. That's why who is getting how much becomes irrelevant.

Also 20% APR is there to attract investments into Hive. Because the supply of HBD is so low, the only way for anybody to acquire massive amounts of is by minting - buying Hive and converting them to HBD. This in return should increase the price of Hive. If this theory works in practice, it is a win for the blockchain, for the community, for Hive/HP holders, and HBD holders.

So far, we don't see massive adoption of HBD, mainly the same people are using the savings feature. In this regard 20% APR wasn't able to accomplish its goal yet. But this also means, Hive doesn't pay too much out in interests, and these numbers are so low, there is nothing to worry about as far as sustainability.

As far as Hive price, I would rather see it keep going up slowly and consistently. Sudden and short lived price jumps don't really mean much.

Some people even criticized HBD as being not actually being a stable coin because of this sudden price movement. But they ignore the fact how fast the price went back down to the peg. This movement should actually prove that HBD is a great stable coin.

This means the peg mechanisms work, it does NOT mean it's stable. Sudden spikes are the very opposite of stability.

HBD differs from what most people call stablecoins in that breaking the peg is normal for HBD. It always returns to $1 eventually. Most stablecoins are defined by never (or very rarely) breaking the peg in the first place.

In truth it is market maker liquidity that determines if something is truly stable. The peg mechanisms themselves can only encourage, never ensure stability. This is true for the centralized/custodial stablecoins like USDT as well.

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I have argued that this is actually a positive thing for HBD. Trying to maintain the peg perfectly under stress comes with some downsides (see Terra).

But we're only setting ourselves up to fail continuously if we keep calling it a stablecoin when it doesn't fulfill what most people expect from a stablecoin.

Step 1. We tell people HBD is a stablecoin.
Step 2. People see it spike and crash.
Step 3. We tell people HBD is still stable.
Step 4. People conclude that HBD and Hive is a scam, because the promoters keep lying about it.

That is a valid point and great explanation. I would still call it stable coin, the algorithmic one.

You actually provide the answer yourself. The answer is in the liquidity and volume. HBD has proven that the peg works. Even if market decides to pay more than what it is worth, blockchain still offers conversion of 1 HBD to 1 USD worth of Hive.

Now, if there was large liquidity and trading volume, market price discrepancies would be corrected in seconds. But we can't all of the sudden create billions of HBD and throw into the market. This too is a powerful features, that it costs money to mint and HBD can't be printed out of thin air. It will take a long time for HBD liquidity to get to significant levels that it can be used everywhere. Unless, some whales decides to throw millions and billions to mint it.

Sure, for day to day prices these sudden fluctuations don't make it look stable. But on month to month basis it does act stable to me. If we don't call it stablecoin, what else would we call it? Any other terminology would probably confuse people even more.

Community bond.

Hive is equity. HBD is bond. Hive provides equity and bonds. Maybe one day it will also provide a functional stable currency, but that is somewhat up in the air, because it is very much an untested idea that HBD would actually have sufficient liquidity and stability to function as currency at scale while ALSO sticking within a debt limit.

There is an argument that we should avoid the term "bond" because of securities laws. That is true but the argument may go out the window when stablecoin regulation comes in and they're required to register anyway.

How or who would they require to register HBD? Is it even possible?

And if it is not registered, what will/can they do?

Both of those are very answerable questions. Exchanges would be forced to delist Hive and HBD unless it was registered - Hive.io would come under pressure to register it both from exchange partners and the state.

Decentralization makes it harder for the state to target Hive, but just being decentralized does not mean there are not targets. The people involved with hive.io are known individuals whom the state can target with legal action. The witnesses by and large are known individuals, not anonymous, whom the state can target with legal action. The developers who contribute on GitLab are mostly known individuals who can be targeted with legal action.

It's a widespread story and mythos among the crypto space that decentralization makes us immune from the state. That is not a very strongly tested idea. In fact, the few times it has been tested, the state has so far come out on top.

Decentralization gives us tools that will make the fight with the state easier, when that day comes. But it would be foolhardy to think that the state could not effectively crack down on Hive today, if it were on their radar.

It's always nice to see more people collecting more HBD. I haven't added much HBD lately but I will be adding some more to my savings later today.

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Good to see that hbd is doing just fine and as a hbd investor this gives me joy because this is a great opportunity that is not common

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there’s no doubt about the month of July ushering good things for Hive and the Hbd as regards recent pump in prices . It’s glad to see how both the prices are doing despite the blood bath period of the crypto market. We hope this new month will be more fruitful across the cryptosphere.

Yes, wiating eagerly for the inevitable rise of HIVE..

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Boring is good! Yes :)

I also like the perspective you share about the HBD going back to the peg so fast. Makes me condident in the asset I am holding.

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