Hive Governance

Lowering my HBD APR vote to 15%

Just a quick note for the chain regarding HBD interest %

HBD APR hasn't attracted the attention we wanted, the APR is so high it sounds too good to be true, and actually starts to become a negative for public perception imo.

**I've lowered my vote to 15%**~~, and I intend to lower again to 10-12% over the coming weeks.~~

Nothings really changed regarding our need to expand the HBD supply so some level of interest is useful there still, but ultimately we want to attract Hive/HP investors so that should be the more appealing option APR-wise.

Apologies for the huge break between posts. I'm still here <3

Image generated by arty v2

Comments · 21

@josephsavage(67)· 54d
We are right on the threshold between 10 and 12%. It might be a good time to consider lowering your vote again.
@lifehackeraf(60)· 268d
But are you free?

Wtf is going on with Hive and read Hard Fork.

Did you get your front end thing done and is I.T. an AI FREE ZONE?

Already Bored AF with the BOTS!

The comments and "users" are stupid and boring and OBVIOUS!

Also - how are you and the kids Heard England is hard core again. Hope you guys are okay.

I was @nickydee until I Human Writes too muched. Fuck them. And on we go.
@mdakash62(74)· 967d
An excellent post. Where it is said to attract investors. Which is very interestingly based. Excellent discussion on hbd editing and voting. Can we give twice as many votes to people if we lower the voting rate? Welcome to the New Year celebration. I hope that the creator will always give you the grace to live a beautiful and healthy life. I hope you make the opportunity to spend a nice healthy day with your family. May my blessings always be there. Happy New Year Have a great time. greetings You are the Great One whose love prevails among us.

best regards @mdakash62
@deeanndmathews(79)· 1093d
People are not being attracted because Hive is in a crypto bear market ... @demotruk covered Hive's correlation to Bitcoin just last week ... raising the HBD to 20 percent in April 2022 and lowering it in August 2023 is not going to move Hive significantly because Hive is not going to move until Bitcoin does, and that won't happen until the halving next year. Investors ARE beginning to assess Hive --

-- and one of the things touted as a good point is the interest AS IT IS.

Meanwhile, there is at least one other well-backed project out there bumping 13-20 interest also, being talked about on Hive. Right now, we have a competitive advantage because of the democratization of global access to that 20 percent over Wirex, but Wirex has a marketing team and way bigger backers.
@r0nd0n(65)· 1093d
I'm outraged, that's not far enough. 10% or I will be forming a lynch mob.
@ausbitbank(74)· 1094d
@mobbs(75)· 1094d
That's one point I do agree with, the whole 'too good to be true' thing. Talking to outsiders, that is one thing that immediately stinks of 'scam' in their eyes.

10-15 can be marketed to the normies as countering real world inflation, given that the UK's inflation is still at a wacky 11% (truflation.com). That's why 20% is nice for me personally cause I have almost ALL my money in UK savings and it is not nearly enough to counter the collapse of the country's value. 20% in a global economic crisis might sound too good to be true, but it SHOULD be bringing in a lot of people seeking refuge from global inflation.

It isn't because nobody is actually talking about it, as far as I can tell
@urun(69)· 1094d
could be also 5% and would be ok. There is no reason to make it 20%.
@preparedwombat(79)· 1094d

HBD APR hasn't attracted the attention we wanted

So what? I really don’t grok this attention argument.

The world needs a lot more HBD.

But if attention is really the goal, increase the HBD rate. 30 or 40% might wake people up. You don’t think the cryptoverse would notice a 30% or 40% APR?
@titusfrost(77)· 1095d
Why would dropping the interest rate bring in more people? It will have the opposite effect.
@yecier(70)· 1095d
What about set a 20% HBD Savings for amounts lowers than 10k (HBD) or increase the HP APR for accounts with less than 10k HP. More stack lower APR.

That way you make sure small users are the beneficiaries equilibrating the map of power and getting there chances to grow and bet for the network.
@acidyo(84)· 1095d
Yeah similar thoughts here, could've been different if luna hadn't crashed or if the one other stable didn't belong to scammy thieves. It should still be decent on par with hp apr.

Also post more!
@aliakbar2(76)· 1095d
Thats not some good news for the HBD investors and people who wants to earn easy passive income. But I think the decision is more good for the ecosystem because investors attention will be changed towards HP. Also this decision will help increase the number of users to be active in the hive platform. Thanks for sharing.
@asgharali(78)· 1095d
I suspected a month ago that witness governance could reduce the HBD APR. That is required in order to keep the value of HBD. If the 20% APR could have enticed investors, it would have been great, but nothing spectacular, and if it is decreased to 15% or 10%, I believe it will be fine.

My piece about how I believe HBD interest will decrease soon

https://ecency.com/hive-167922/@asgharali/hbd-apr-expected-to-transition-from-20-to-16
@nonameslefttouse(77)· 1095d
Good to see some movement on this. It did end up attracting negative attention on the outside, and there was a lot of explaining to do. Plenty of energy when into that, which still did not seem to yield the desired outcome.
@chinito(73)· 1095d
hmmmmm, yes. I get where u are coming from.. but for me and my selfish POV, I like having HBD at such a nice APY, so I have something to invest in, that is stable, and can keep up with inflation. :)
@valued-customer(75)· 1095d
I disagree, but no one cares what I think. Inflation is eating capital up yet today, and I found 20% to nominally counter that rapine. It won't counter it at 10% and I will be forced to consider other mechanisms. I doubt I'll be alone, so keep a close eye on adoption of HBD, because I expect it to significantly decline as interest rates do.

I appreciate the heads up.
@woelfchen(73)· 1095d
I liked my 20% APR on my little savings :] thanks !
@igormuba(72)· 1095d
The part where it sounds too good to be true is a good and new point raised.

On my witness node I lowered from 18% (which I was voting before) to 16% exactly because I also still believe in increasing the HBD supply and I also believe that HBD is great for attracting new users, but you're completely right that it hasn't been working so great and probably because people do think that it is too good to be true

I don't think these changes will impact any prices, they may just upset a few people that were expecting yields to stay high and profit odf of it, which I hope they do, but in the end Hive should be about HIVE

Hopefully curation improves in the future with the yield adjusted
@eddiespino(80)· 1095d
I've been thinking about this. I think that it would be better to incentivize the users to invest in Hive Power, rather than HBD. Having a good APR on HBD is cool, but it should not be higher than Hive Power.
@numpypython(68)· 1095d
Agreed. 20% on a stable coin is too good to be true and previous examples have either imploded or devalued. I think somewhere in the Fed Funds rate + 3% to 5% would be a stable and attractive rate for investors looking for a "risk-free" investment. Currently, that's 8% to 10% APR.

Comments · 21

Already Bored AF with the BOTS!

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