A Calmer Post for Sensitive People about HBD Stabilizer

phusionphil in LeoFinance • 6 days ago

As usual we have sensitive people in all places in society, and due to my aggressive tone in my last post on this topic, I have decided to smoke cannabis and revise this issue in the calmest mind state possible.

There is some issues with @hbdstabilizer and its operators,

@smooth & @timcliff

Firstly, the inflation caused by $1000's of dollars a day taken from the reward pool, in a comment farming and post farming fashion.

@hivewatchers has yet to respond, I'll probably have to join their discord again.

If this alone, is not enough of an issue to concern you with the risk assessment for a run on the banks from these accounts, then I guess we will all just have to trust Tim Cliff when he cleared up their air with the VERY transparent statement regarding sole proprietorship of the owners of the accounts voting for the HBDStabilizer.

What possible reason would we have to trust Tim Cliff and Smooth if sole proprietorship of the funds voting on these comment farms is the end game?

Please do "enlighten me as they say...

@smooth felt the tone of my original post was rude or something, so I made this one just for him and you can find my original reaction to this comment farm on my blog full disclosure it made me mad and I have nothing nice to say myself.

I just want to know if I should red flag these accounts and watch their balances obsessively to do proper risk assessment on this volatile digital asset.

I enjoyed a coffee while making this post trying to keep focused on critical thought, can you do the same in your comment @smooth?

I really want to know what the end game is with these funds because I am very concerned after the comment @timcliff made about sole proprietorship.

#cryptocurrency #witness #archon #weedcash

6 days ago in LeoFinance by phusionphil

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hivewatcher 5 days ago

Hello.
Thanks for looking up for abuses.
These are not abusive accounts though.

hbd.funder & hbdstabilizer are legit services set up to equalize the price of HBD to be pegged to $1USD

If these services were in any way abusive, they would have been nuked to zero by top witnesses.

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phusionphil 4 days ago

Thanks for caring, I guess if everyone trust them, I can tolerate that, but HF25 is now on my agenda

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timcliff 6 days ago

(I've said some of this in other threads, but repeating and adding to it here.)

I really want to know what the end game is with these funds

If you read the posts that are referenced in the body of the @hbd.funder posts, everything about how the funds are used is explained in detail: https://peakd.com/hbd/@hbd.funder/upvote-this-post-to-fund-hbdstabilize

The TLDR is that they are immediately used to buy HIVE and then all of the funds are transferred directly into the DAO.

the inflation caused by $1000's of dollars a day taken from the reward pool

The inflation is the same regardless of where the rewards pool funds are directed. Technically if you look deeper into the economics of what the @hbdstabilizer effort has actually been doing, it has been having a deflationary impact on HIVE.

No funds are "taken". No user is entitled to any rewards other than what stakeholders decide to direct to them through voting. If stakeholders vote for other things besides a user's post and that user gets less rewards, that is how the rewards pool is intended to function.

I realize this is a controversial effort, and there are a large number of users who are against it. Everyone has the right to use their stake however they want though, and there are several large stakeholders that I am in direct communication with who support the effort.

I am very concerned after the comment @timcliff made about sole proprietorship.

100% of the funds are being directed back into the DAO. It is 100% verifiable on the blockchain. The only reason I am doing/supporting this is because I believe it is one of the best things we can do with the reward pool funds to increase the value of HIVE. I also do not at any point in time have control or access to any of the funds.

@smooth controls the keys of the @hbdstabilizer account, and in my view he is one of the most trustworthy people involved with HIVE. The balance of the @hbdstabilizer account is pretty much always kept at 0 too, so even if he did decide to go rogue - there is not a large amount of money that he could make off with.

There are quite a few eyeballs on this project, and we are doing everything as transparently as we can.

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smooth 6 days ago

Thank you for taking the time to explain things clearly and accurately. I don't have much to add.

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akumagai 5 days ago

Sorry to sound like a noob here but what does DAO stand for and what is it?

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timcliff 5 days ago

Decentralized Autonomous Organization :)
https://en.wikipedia.org/wiki/Decentralized_autonomous_organization

Basically it is a pool of money that can fund efforts to improve the platform and community. Community members can create proposals to fund various efforts and stakeholders vote on the ones they would like to fund.

You can see the list of available proposals here:
https://peakd.com/me/proposals

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esecholo 6 days ago

I don't know anything about the HBD Stabilizer so I can't really comment on my thoughts of it.

_{Posted via weedcash.network}

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yayogerardo 6 days ago

so why comment at all?

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phusionphil 6 days ago

He is the audience in trying to reach, the people who don't understand the subconscious financial dimensions of hive.

Opening people's eyes to how fast $1000 of dollars is generated is called open discussion, its fine that he doesn't know anything.

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akumagai 5 days ago

LOL

Comment for comments sake is like drinking for drinking's sake.

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phusionphil 5 days ago

We are social beings after all, a councilor once told me I should try socializing, I ll get around to that after some more shit posting lol

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frankbacon 6 days ago

Dude. I HIVE!D the OG post for reasons...

Screenshot_20210327-150432~2.png

✌😎🥓🙏

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paulmoon410 6 days ago

....So... they're trying to manipulate the market?

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phusionphil 6 days ago

I suspect that, but I am giving this a chance to be more discussed, no one I follow has brought this up so I wanted to share my opinion on it.

Although there is good logic to the payout mechanism I don't trust the account holders because they just went ahead with this like a social experiment.

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paulmoon410 5 days ago

Just let it do it's thing... It will eventually level off... Market Manipulation is a horrible thing.

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phusionphil 5 days ago

For sure, it's a curse loving math because you sometimes see equations that lead you into very stressful realities.

From what was said, it's good intended and that's the current community consensus.

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yayogerardo 6 days ago

IMO, and I hope I don't ring a bell of more frustrating sounds in your head, but (but then there's the but lol) could you also include the post to which you mentioned in this post?

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phusionphil 6 days ago

https://ecency.com/hive-167922/@phusionphil/hbd-stablizer-just-like-quantitative

I was mad, swore and called people communists. Be careful, very oppressive language.

Lol at least I made them laugh, I just want answers.

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yayogerardo 6 days ago

Well they are lustful for money there is no hiding that. their actions on the chain of transparency shows all. People are bound to pick it up. Those that pick it up before it happens are usually ignored for their advice though. But for the righteous, "Theirs is the kingdom of heaven" to quote some scripture. albeit the righteous usually get the short end of the stick.

THIS time however, those that took the short end and those that threw their long sticks would soon find out that they should have kept their long stick. Now comes the whip-lash of the righteous.

whip them hard i say.

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phusionphil 6 days ago (edited)

I am greedy myself but when you are unconsciously greedy it creates the type of human you speak of that must be caught by the tongue.

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sames 3 days ago

IDK if that fair to say as all the money is just returned back to the ecosystem.
So far for more than weeks, the funds have been returned to the DAO.
It be to see if after the new HF that HBD will return to $1 peg if given the ability to go two ways instead of the one way peg

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yayogerardo 3 days ago

ans that is supposed to be an apology to the community? not good enough.

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sames 3 days ago

I don't think you got the whole story.
The fund which they announced with all intent is just using existing inflation to get the HBD and sell it on the market to help bring the peg back in place and return back to the ecosystem.
Due to the unpeg price they actually run a profit to the ecosystem(like 20-30%)
Never hide their goal for the money raised.
At first the DAO fund was being used but the fund used all the remaining funds for the week up. And then the bull run is so large that it not enough to return the peg but a profit is being made and returning to fund the DAO.
Thus using post rewards was the other option so a backstop.
The next HF aims to fix this by adding a two-way peg like Haven: $1 in hive would make 1 HBD.
Currently 1 HBD allows to be redeemed for $1 in Hive but not the other way around.
So when HBD goes over $1 there is no system in place for traders to use the market force to arbiatge HBD. Qith the new HF If HBD is over $1. Then you can use $1 in Hive to make 1 HBD and sell it that 1 HBD and get the thin profit(or in this case mega profit).

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sames 3 days ago

Apology to who? They told what the fund was going to be for too. They didn't even hide what they were doing with the money lol

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yayogerardo 3 days ago

To those that did not want to get thrown under the bus just so some high profiles could reap extra rewards from HF21.

They have taken the tax off the next HF²5, Not everyone has had access to the correct information adequate enough for them to be properly informed to make decisions.

Its a few smart devs Shepards taking advantage of many blind sheep who don't know money is valued based on their belief in it.

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sames 3 days ago

I should also point out this project was also the more detailed about what they are doing with the finds than most.
Of course like all things you need people to look into it but this is far the one that most people could actually get more info on since this had so much money to deal with it.
Also the DAO fund is a common and well tested system used by other coins such as Dash and Decred so the inspiration for a more decentralized funding source that many argue that coins without such as bitcoin and Ethereum are more prone to outside control. Does anyone really know though? No as all things can be exception

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sames 3 days ago

Well this is a POS system and thus according to the laws of the market the consensus has verified it as such.
They don't need to apologize for such and have used their stake in market based way. They have not lied and like all systems some people will be unhappy.
I won't convince you this is a good think as you think this is not ideal but this is how POS works.
At the very least I can tell you that none of the stake is being used to benefit the long term development fund so the platform can find itself.
If you don't like this scenario you must not like having no power in DPOS nor other POS chains which I think is fair enough.
Since this is all open source and blockchain options to move is more possible. No one has found a better system but all hope is not lost and maybe we will see a system more equal for all users though some people might think this is communism. Who knows 🤷‍♂️

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lucylin 6 days ago

Putting lipstick on pig doesn't change what it is...when the system is fundamentally flawed from the ground up, guess what the building will turn out like? (no matter how shiny you make the door handles).

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coininstant 6 days ago (edited)

What happened to the image?

This all sounds "Utterly Irresponsible!" 😂

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yayogerardo 6 days ago

I was thinking ecency was acting up on me..
I have the same question. Its on various posts if not all for me.

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phusionphil 6 days ago

The image was just my cup of coffee to try to appeal to be human lol I am not a bot or a troll, just arm chair concerned about wtf is going on.

Lol I guess I am a laughing stock cause I called a capitalist a commie but that doesn't help answer my questions about trust and why accounts need to be doing this not code that is neutral to all users.

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