The meaning of Currency and why HBD qualifies
We should all be famiilar with the meaning of currency. Like USD is a currency.
Ever wondered why money is call currency?
I don't know but here is my attempt.
Currency has the root word current. Meaning up to date, and now.
This makes sense in a world of transaction. We want something to be current and fast when we make transactions.
If I make payment to buy something, cash is the fastest if I can hand it over physically to the seller and the seller is happy. Same thing for the case in credit card transactions, except that intermediary, e.g., the bank, is taking note of the transactions and can be trusted as the seller and buyer part ways.
Here is where we can consider if Hive or HBD can be a good decentralized currency, compared to bitcoin.
The decentralized functioning blockchain network handling the ledger is like the bank handling the credit card transactions.
There are blockchains and there are blockchains!
Now, ask yourself if bitcoin is a good form of currency when the transaction speed is so slow? Although it is the largest network and thus presumably more stable, the slow transaction speed is a bane. No one is gonna sell something and wait for some time for transactions to be signed.
That wait time means value lost.
The fluctuation in bitcoin price also makes using bitcoin as a transaction currency difficult.
On the other hand, anyone who had sent and received HBD knows how fast it is. Not to mention it is a stable enough stable coin. This within seconds transactions makes HBD suitable as a decentralized currency.
Of course, trust in it depends on how big Hive grows. In the case of USD, trust in it is due to trust in US economy and political stability; trust in HBD depends on the faith in the financial and usage activities in Hive.
Posted Using InLeo Alpha
In most cases currency has become such a thing that nothing else can be imagined and can be said to be the root of everything.
I know as time goes on, the value of HBD will increases
Hahaha it’s a stable coin dude
Oh that's true ooo
I have forgotten
HBD can definitely be a currency but I don't think it can be that large as a main currency. Mainly due to the limited supply (it's too small) and it's reliant on Hive's marketcap. However, it can definitely be a part of the economy because I think the trust is there and that is based somewhat on the trust in Hive.
For years to come, I strongly believe HBD is here to stay
There are many stablecoins within the bear market that have ended and handled the bear market well, we have a lot of faith in them.
Trust is everything, people have faith in this project and the team is also doing a good job