No, HBD can't be "printed" into oblivion! So, it's a true gem

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12 % APR

Some people don't believe me when I tell them I have a savings account that brings me 12 % interest per year. And with monthly compounding even more. They say that's some kind of "funny money" or think I am invested in Turkish Lira.
I explain them it is a coin that is backed by the token of a blockchain called Hive, and some laugh even more. But I know better. I am pretty sure HBD is a safer investment than Turkish Lira, that's for sure. No offense to the Erdogan lovers.
But one thing is even more important, about Hive Backed Dollars.

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Not into oblivion like Fiat

It is impossible to print HBD into oblivion, a maximum of 10 % of the value of all distributed Hive tokens can be printed into HBD. When that 10 % is reached, we will not be paid out HBD anymore, but staked Hive and liquid Hive. That is a safety measure that is hard coded into this blockchain. And that is really important to know. This means, this Dollar is actually really backed by something, unlike all fiat currencies. So, to say it quite simplistic, right about now around 370 million Hive is in circulation, at a value of 1.66 USD, that means that 37 times 1.66 = a possible 61.42 million of HBD can be printed. Not a penny more.
At this time, we are far away from that target, so all the holders and savers can save a lot more before that target is reached. And it probably never will, because when Hive price rises, more HBD can be printed, and I expect that to happen this year.

In the meanwhile, keep on hoarding that Hive and saving them HBD's! Even though this is not investment advice, I will for sure!

Sincerely,

Pele23

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7 comments
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Can you believe the witnesses can bump it up to 15% just to entice a fire cracker buy?
This blockchain can be many things these days.
Numbers are not my cup of tea but I am energized to understand how the abundance starts with our behavior.
Keep on holding

!BEER

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12 % is already pretty neat, but 15 % would be awesome! We have gems in our hands! That’s for sure

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The cap right now is 10% of the marketplace value for HIVE so we need HIVE's price to go up or more HIVE to be printed when we hit the cap. I think there is some special rules deciding when we start getting liquid HIVE. For example, if we are between 8 and 9% or so, it gives a portion in HIVE and the other half in HBD. Once the cap is over 10%, it goes to all liquid HIVE but it has only happened once.

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It has indeed happened before, when there was a lot of speculation on the Steem blockchain by Korean crypto investors. But right now we are are pretty safe!

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