Now, while it's entirely impossible to know the true motives behind the largest stakeholders deciding all of a sudden that the HBD price being out of whack (like it always has been basically) was more important than paying community voted proposal funding to build out the ecosystem.. It seems that the "elite" class have possibly decided that under the guise of "restoring the peg" they'd be able to use the ~ 23,000 HBD (worth a bit over $50,000 USD at time of writing) to trade HBD -> BTC -> HIVE in order to create downward pressure on the HBD price while at the same time artificially inflating the HIVE market price by effectively misappropriating DHF funding meant for developers into the HIVE market cap, effectively pumping everyone's bags, but also due to them being largest HIVE holders, ultimately being the ones to benefit the most from this course of action.
There are a number of different ways that the peg could be corrected that would be far greater in effect than the current method that provides less than 1% the required downward pressure required to even begin to correct the HBD price.. Look for newer post from me highlighting some methods.
Looking at Historical Peg Data... It's Never Worked Well
The HBD peg has never performed well, and I sure as shit have no idea why it's all of a sudden taking priority over paying developers.. Seems like shooting yourself in the foot a bit completely shaking developer dedication to your network trying to wrangle some known to be fucked peg or to stuff a bit of money into your buddies pockets. A single dedicated developer is 100x worth more than any "pegged" financial vehicle that doesn't fucking work to begin with, due to the toolset required being missing. I don't know about you, but supporting development should be priority over fucking HBD.
It boils down to the "elite" class being able to dictate who gets money in the community and who doesn't, simply out of the fact their vote weight is untouchable and ultimately is greater than the rest of the community combined. Do you think the HBD Stabilizer Experiment is worth it for the community or is this a few individuals explioting their positions to convince the community they are helping when in reality they're simply feigning wishing to create an attractive and marketable network while taking actions that at the end of the day serve only to create more wealth for themselves? I have no fucking idea anymore. I like to think the folks here in power are acting out of more than a desire to create their own money printers, even better yet, for the benefit of the whole community... But the more I look down the rabbit hole, the more I begin to wish I hadn't. Fml.
NOTE: This post contains speculation and hypothetical motive expression. There is no way for me to deny or confirm anything put forward in this post and it's not to be taken as fact but rather as a potential reality. The above text merely outlines the worst case scenario, which hopefully isn't true. I might be completely off the mark here, or dead on the money about the situation. No idea.. <_<
Please vote on your answer below with a 1% (or greater) vote on how you land on this
POLL RESULTS SO FAR:
Option 1.
HBD Stabilizer is a great initiative and I love what the witnesses are doing!
No Votes!
Option 2.
HBD Stabilizer isn't effective and I don't support this!
6 Votes!
Option 3.
HBD Stabilizer isn't something I care about or have info on!
1 Vote!
Option 4.
HBD Stabilizer is a fucking scam masquerading as a good deed!
5 Votes!
Stabilizer might be effective, but I do not see the need for it.
3 Votes!
12 Against or Condemning
3 Indifferent
0 in Support of HBD Stabilizer
So uhh.. So far the community votes are leaning heavily towards the HBD stabilizer either is a scam or unnecessary.. You can't make up feedback like this, the community is casting their votes and making options if they feel their view isn't expressed in the original options. Take from this what you will.. But when you have >7 votes against vs ZERO votes supporting it.. Maybe it's time for the ones on top doing this shit to pay attention to how the community feels rather than focusing on what they prefer..
EDIT: It looks like HBD stabilizer is being scaled back in favour of returning developer funding back to those with proposals above threshold. This is INCREDIBLE news and I'm glad to see an equilibrium between developers and the top tier governing class being found after a tense few weeks. Certainly a step in the right direction and it sounds like our voices have been heard.
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