I see, it is double counting the HBD "debt" as part of the market cap!!!
DEBT = HBD in circulation / (Virtual HIVE Supply * Feed Price)
The Market cap is being overstated and the debt ratio understated!!
Either its debt or it is equity, it cant be both!!!
Yea and this is also a base for Hive inflation ... I have been repeating that we need to replace the virtual supply from use for all hive tokenomics
Coingecko doesnt use it, why are you using it on your website?
You are overstating Marketcap by $35m and understating the debt ratio by 5% on your website
The real debt ratio is ~14,6% based on the true marketcap by coingecko.
I'm using it becouse that is how the blockchain itself works ... that is how the code for the haircut is set to be executed
But this is not the truth Dalz,those numbers are meaningless without the true context.
If HBD depegs at around $0.055, then the debt limit is nearly 45%! 15% more than what was apparently setup!
I dont make the rules obviously ... that is how it is set in the code ... code is law ... there seems to be some initiative to remove the virtual hive supply as a base for inflation in the next Hardfork also hope for this ... if that changes so will the way how debt is calculated .... I'll tag @howo and @gtg here as core devs
I understand Dalz, appreciate you explaining your figures. I still think the website app should be updated to display the true marketcap and true debt limit as those are not the true figures and are misleading/dishonest.
They are true to the blockchain and more truer than what coingecko presents ... it will be missleading if there is 15% debt shown on the web, when the blockchain itself is calculating 10% ..... if there is a change in the blockchain code I'm happy to update the numbers
Well, thank you for bringing this up; @mypathtofire and @dalz, let me upvote it (post and thread) for more visibility = discussion, upcoming HiveFest is a good opportunity to talk on that matter too.
The Hive Supply is onchain here: https://hivexplorer.com/api/get_dynamic_global_properties
you can then take the internal market price or binance price to make your calculation. That is the ONLY calculation for marketcap.
If you dont want to have the true marketcap in the app, then you should remove "marketcap" from your website as that ISNT it! It is an abstract calculation with no meaning/value and you should add a disclaimer for transparency.
This usage of terms/numbers are just wrong and deliberately misleading Dalz, you know that.
