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Avoid HBD by lbi-token

View this thread on: hive.blogpeakd.comecency.com
· @lbi-token · (edited)
$14.60
Avoid HBD
![CORRUPTION PAYS 1.png](https://i.imgur.com/wuri5iZ.png)
By **@Zestimony**

We recently noticed an increase in the price of Hive Backed Dollars (HBD), and this is not the first time that this has happened, nor will it be the last time that we notice something similar. When this occurred, I saw a lot of users writing about how to make the most of the circumstance, and I can't help but feel sorry for them. They couldn't have been more wrong! I imagined.

To appreciate why HBD is not like other cryptocurrencies, you must first acknowledge that it is a stablecoin, and then you must acknowledge that it is an algorithmic stablecoin. Only then will you be able to comprehend why HBD is not like other cryptocurrencies. If you are aware of these significant facts, you will be better prepared to deal with HBD should its price suddenly spike.

## Stablecoins MaintainedΒ by AlgorithmsΒ 

Since its inception, the concept of a stablecoin has remained consistent and basic. To put it succinctly, a stablecoin is a coin that is pegged at the value of one dollar, with the intention that it will always remain in that state and will always be adjusted so that it is equivalent to one dollar.

A backing is required for a stablecoin in order for it to maintain its stable status. This backing can be thought of as the foundation upon which the stablecoin is built; however, a stablecoin cannot achieve its stable status in the absence of this backing. A value-backing system is something that every stablecoin uses. The majority of stablecoins use a commodity value-backed system, which means that their total value is pegged to a commodity such as gold. The majority of other stablecoins use a fiat value-backed system, which means that their total value is determined by the amount of fiat currency that is held. Although the preceding backing options make the coins they are associated with more stable, it is impossible for them to run a decentralised system in its entirety with this form of backing. As a result, algorithmic stablecoins were developed in order to meet the demand for a truly decentralised stablecoin.

Decentralized stablecoins with a value that is maintained algorithmically are known as algorithmic stablecoins. This means that the value of these coins is kept stable through the use of lines of code that have been prewritten in computers to ensure that these coins continue to trade at a level that is comparable to one dollar.

Being an algorithmic stablecoin and a decentralised stablecoin at such doesn't mean that it is not backed, but it does imply that it is backed by an asset that is not under a centralised control (like gold and fiat), such as Hive and other cryptocurrencies. I n addition to any financial backing that may be present, the algorithms make sure that there is a balancing act.


## The Instance of the HBD

The most important thing to take away from this is the fact that HBD is an algorithmic stablecoin. The algorithms guarantee that the value of HBD will always be relatively close to 1 dollar no matter what. Therefore, the algorithms are made to adjust themselves in order to return HBD to a value of one dollar if it falls below that threshold, and the same balancing act is carried out if it rises above that threshold.

So, in your view, what does this mean? Trying to take advantage of a spike in the price of HBD may not always result in the huge financial gains you expect, especially when HBD is not in its liquid form and ready for instant use.

![image.png](https://i.imgur.com/qtKiyIO.png)

This is due to the fact that HBD must have rebounded to its pegged value before the completion of the 3.5-day period for converting HBD to Hive (to trade on exchanges), which is the most common utility for HBD. Therefore, it's possible that you won't make any significant gains from it. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@lbi-token/avoid-hbd)
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 101 others
πŸ‘Ž  ,
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vote details (167)
@cmmemes ·
$0.15
I would call HBD an "aspirational stable coin" . Also you can make a lot of money if you sell HBD for other "true" stable coins when it pumps. Yeah sure HBD is decentralized and all  that but it's not stable all the time 
πŸ‘  
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vote details (1)
@hivecoffee · (edited)
I dislike calling HBD a stable coin because it is just Hive-backed.
https://peakd.com/hive-167922/@hivecoffee/re-lbi-token-rgzo3o
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@zestimony ·
$0.09
I like the term **aspirational stable coin**. 

I also made the same comment here: https://peakd.com/hive-167922/@zestimony/re-hivecoffee-rgzxvb

While I stand to be corrected, I believe that HBD is designed to be what SBD could not!
πŸ‘  
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vote details (1)
@forexbrokr ·
$0.24
RE: Avoid HBD
ALWAYS dump your available HBD on pumps!

Any time HBD is above $1, you should sell it.

If you don't want to worry about HIVE prices on the internal market, the [pHBD:USDC LP on PolyCub](https://polycub.com/farms) makes it even easier.

It will return to its peg and you will make money when you swap it back.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@forexbrokr/re-lbi-token-3bfaxv)
πŸ‘  
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vote details (1)
@zestimony ·
Nice feedback @forexbrokr. I really appreciate the constructive feedback and will like to know more. I'm working on an update to the current article to address the concerns raised and my seeming inefficiencies. If there's a resource to help out, I'll appreciate if you can share. 

I'm researching more though! Thanks once again! 
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@hivecoffee ·
RE: Avoid HBD
Not a stable coin
Hive backed

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@hivecoffee/re-lbi-token-5puqtr)
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@hivecoffee ·
$0.31
I dislike the term "stablecoin" because that would suggest putting the fiat feature of instability into a crypto, and calling the dog a cat. No, HBD is not a stablecoin, rather it is a Hive-Backed Dollar. You can hold it, but it is debt to Hive. You can always trade 1 HBD for about a dollar worth of HIVE, but the peg is only approximated by traders and some trading mechanics. Still it is great because you can use collateralized conversion to swap HIVE for HBD when Hive goes up, and youll get change back in 3 days. Vice versa you can swap HBD for HIVE anytime, and that would be like trading paper money for silver coins. The HBD is debt, to Hive. Not a dollar. The "price" is only a visual conversion for our benefit.
πŸ‘  ,
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vote details (2)
@zestimony ·
$0.06
Okay, I really get your argument here! And it is very logical and reasonable. But wasn't HBD designed to be a stablecoin? 

Here is why I believe so. You can look quickly to SBD (Steem-backed Dollars), it is a debt to Steem, but was never designed or intended to be a stablecoin, so, there are no efforts to ensure than SBD throttles back to a particular price, sometimes 1 SDB could be as much as 5USD worth and continues that way for weeks. 

My argument is this, if HBD is not a stablecoin, at least, it is part of its design to be or at least mimic a stablecoin, and maybe with time, get more stable. 

Even though fiat is unstable, it usually remains the gold standard as its instability is not as wavy compared to any crypto. Just saying! 
πŸ‘  
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vote details (1)
@hivecoffee · (edited)
On Steem SBD was never stable, in fact after the chain was compromised, SBD went up to even $8. To compare, HBD today is extremely close to 1 USD value, even if it goes up or down 0.10. I would just reccomend not calling it a stablecoin since stablecoins will soon be facing increased regulation. Hive Backed Dollars are not really a 1 USD peg, they are 1:10 HIVE as the HBD market cap will not exceed 10% of HIVE's market cap. Before all the HBD stabilizer 'solutions' were implemented, I figured that seeing $10 HBD and $100 HIVE was reasonable. I still do. HIVE is valued in BTC not in dollars. 0.00002602 BTC
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@jfang003 ·
RE: Avoid HBD
I was a bit mislead but I do agree that the 3.5 day safeguard is way too long. The price has gone back to the peg way too fast.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-lbi-token-4k4unk)
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@sorin.cristescu ·
We don't want a TerraUSD - LUNA death spiral and meltdown over here. The 3.5 days is there to dampen speculation and discourage speculative attacks
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@jfang003 ·
$0.18
RE: RE: Avoid HBD
I know but if people are intending to take profits during the pumps, the internal markets are a better option. In a way, that 3.5 day time period leaves too much room for someone who wants to arbitrage. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-sorin-cristescu-3t7nty)
πŸ‘  
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vote details (1)
@zestimony ·
Yea. Who I had in mind while making this post are individuals whose utilization for HBD is to convert to Hive for most exchanges. It's nice to see professionals provide solid feedback and expanding my scope. Thanks for stopping by! 
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@leprechaun ·
$0.32
Okay,

which exchange is this?

You can buy HBD at Ionomy for $1.008 BUSD/HBD.  If you see it for $3.9, you can do arbitrage ifΓ‘
1.  You can actually deposit BUSD into the Ionomy account
2.  If there really is a buy order at that exchange (there is!)
3.  If the exchange will allow you withdraw.  (I never had a problem with Ionomy... yet)
4.  You can actually withdraw your HBD from Ionomy.
5.  You can deposit your HBD to the other exchange
6.  You can actually sell HBD for this price on this other exchange.  Or is it just a display price that can not be used.
7.  You can actually withdraw BUSD from this exchange
8.  You don't get Goxxed at either exchange

You can make a quick buck.  

*Caveat emptor.*
πŸ‘  ,
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vote details (2)
@zestimony ·
$0.09
Thanks a lot for this heads up. It's obvious I needed to do more digging before publishing this post. 
Though, my primary target for this were novice-intermediate Hive users, but it's good to get constructive feedback such as this. There will be an update soon!
πŸ‘  
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vote details (1)
@metzli ·
$1.58
RE: Avoid HBD
Ok but if HBD spikes, and you sell, not convert, you make a profit. 

I don't understand what I am missing here. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@metzli/re-lbi-token-2fzx7h)
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vote details (5)
@leprechaun ·
The good news is you can convert in the other direction.  The bad news is something is probably broken to prevent you from making a profit loop, which has been the case everytime this happens.  Either the wallet is "under maintenance" or it is some front-running false price that you cannot sell it for when it comes down to it.
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@palasatenea ·
You're right, there is no point in converting but yes selling as soon as you notice the HBD pump, before it goes back to its peg.
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@sorin.cristescu ·
$0.07
You are not missing anything- that's what you should do: bet that it will trend back to $1, so when it "pumps" above you should sell, if you have it liquid. However, with the 20% offered on savings blocked for 3 5 days, most HBD is probably locked in savings
πŸ‘  
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vote details (1)
@poshtoken ·
$0.07
https://twitter.com/Zestimony/status/1561453261294637057
<sub> The rewards earned on this comment will go directly to the people( @zestimony ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.</sub>
πŸ‘  
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vote details (1)
@scholaris.pob ·
$0.07
I love these financial articles.  People express their disagreements and the author responds in kind.  There's a lot of learning I'm getting from just the comments alone.  

Posted using [Proof of Brain](https://www.proofofbrain.io/@scholaris.pob/re-lbi-token-l74aq0em)
πŸ‘  
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vote details (1)
@zestimony ·
Thanks mate for your nice acknowledgements. As an author, I'm no definite authority, I'm also learning from the feedback! 

Thanks for stopping by! 
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@sorin.cristescu · (edited)
$1.49
RE: Avoid HBD
Sorry but this article is garbage. 

> So, in your view, what does this mean? Trying to take advantage of a spike in the price of HBD will never result in financial success; rather, it could only lead to disappointments.

Quite he contrary: if you have liquid HBD and you sell when it spikes you are **guaranteed** to pocket a profit
πŸ‘  , , , , , , ,
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vote details (8)
@cmmemes ·
auch :)
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@zestimony ·
$0.61
Take it easy bro! No need for calling the article a **garbage**. 

First, the primary target for this post are those who wishes to convert HBD to Hive during a spike in price and not for those like you who managed to figure out ways to trade HBD. 

I am happy to learn from you that liquid HBD can easily be traded and I will definitely like to provide an update to this post ASAP. 

If you wish, you may provide more details on your stance, I am no Island of knowledge you know!

I stand to be corrected.
πŸ‘  
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vote details (1)
@sorin.cristescu ·
$0.05
Sorry I over reacted. Hard day I guess. 
The place is the "internal market" 

https://wallet.hive.blog/market

Ecency has an interface as well but not peakd (it redirects to Hive.blog interface)

HBD is not quoted on many external markets - Bittrex is closed for HBD and Upbit is mostly (only?) for Korean residents. The DeFi markets are fiddly, with low liquidity and various transaction fees. The one benchmark is the internal market. 

So when HBD "spikes" to $3 and Hive is at $0.6 one should check the internal market. If you see there are buy orders offering 4+ Hive for 1 HBD then you should be quick to fill those orders because you're guaranteed to make a profit as soon as HBD returns toward $1, which it always will (albeit sometimes more slowly than others).
πŸ‘  
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vote details (1)