HIVE Internal Market (Some Much Needed Changes)

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Hive internal market has been here since the beginning of its time. If you hold a HIVE account, you clearly have an access to this market. Where you are able to buy-sell HIVE/HBD. It has been performing its activities like the way it was designed to.

Hive is one of those crypto currency where the market decides the price of it. Whereas HBD is one of those pegged currency which is designed to be at pegged dollar value, under any circumstances! Even though we have seen in the past, many well known crypto currency which were known for its pegged value they collapsed due to their way of design and flaws. BUT in the case of HBD the scenario is quite different. HBD stabilizer is continuously doing its work and it is being funded by the DAO fund. Here's the post to get some idea on the topic.

Unlike any other crypto currency, HBD seems to have a very thin market. The pegged currency of HIVE, does not seem to conquer many outside market. Currently, HBD is available at Upbit and Bittrex exchange. But the volume on those exchanges are very demining. In bittrex it's volume in last 24 hours has been $0. Whereas, Upbit is not accessible by users from many different countries. Making it much more scarce if you want to get your hands on HBD.

HIVE: Internal Market

https://wallet.hive.blog/market

HIVE internal market is a blessing for those like us. If you want to convert your HIVE or HBD internal market is your best available resource at present. According to the data in the last 24 hours a little over $76,000 have been traded from hive to hbd vice versa. Like I stated the market is very thin of HBD compared to HIVE, where the last 24 hour volume across different exchanges of it has been $3,114,732 according to CMC. You get the idea what is actually happening.

Screenshot 2022-09-05 021358.png
SS from internal market

Over the last couple of days, I have been using the internal market very often. Seems like there are little opportunities of making some money once in a while. Although that thread is very thin and not much to focus upon. But even though I am using the internal market it would be very helpful to see some definite changes which would make the user experience much more friendly and time efficient.

  • Market Order

A feature which I would very much like to get on the internal market. Whenever you are buying or selling in small quantities this current feature does not seem to bother a lot. But whenever you are purchasing or selling a big amount there comes the problem of waiting. This feature might give some additional benefits to the eco system. As I am pretty sure there are quite a lot users who have faced this issue and a change could be helpful for them.

  • Keeping History

I am getting old lol. It is becoming difficult for me to keep track of some trades once in a while. Which is why, I prefer keeping an eye on the history. Since internal market does not offer that service, I do rely on discord bot Friday. And often I get to check Hiveblocks and do things manually. Which takes a lot of time and often gets mixed up in the queue. Leaving me with agony :)

  • UI

I don't know, why does it feels like I am in a robotic world while using internal market. As because I do not get that usual feeling of using a market, like when I use Binance or any other crypto trading app. The same feeling appears while using hive.blog. If we compare it with any third party UI like peakd, its like being on 2000 and 2022. Figure it out yourself which is which. So definitely a change in UI will be very much appreciated.

Well, I am pretty sure some of the changes might bring some negative impacts on the way how the internal market has been performing in the past. But once the userbase grows there will be more cashflows and later an upgrade would definitely be needed.

As a fellow user of the internal market, these facts came out in front of me!
Best regards
Rehan

Posted Using LeoFinance Beta

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The web page https://wallet.hive.blog/market is just an interface to the blockchain.

The interface simply draws some basic information about current orders. It displays a chart and has a basic form that will take information for buy and sell orders.

It should be possible to create alternative interfaces which held more information.

I suspect that hardcore traders use BEEM and python scripts backed by personal databases.

Since the page is just an interface. I think the best path to adding changes would be for an interface designer to create a new market page on one of the many interfaces to the blockchain.

I admit, if I were designing an interface I would include features to help educate newbies on all of the options one has for HBD. For example, I might include the ability to transfer to savings. The ability to transfer HIVE or HBD from the page. I might include information about the current price of HBD on Hive-Engine or other exchanges where people trade HBD and HIVE.

Regardless, the best path forward for anyone wanting to improve a page would be to find an interface designer and create an alternative page.

!WINE

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