I think 20% is fine, which though on a higher side does attract savings within the existing hivers. The question for the outside world looking as a scam will still persist even if the rate is lower down.
But said that, the rate should be sustainable for a long time. And if the stats say 20% can be sustained then it should be continued.
Again, that's my thought on this subject.
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Any interest on a de facto stablecoin that stays in your wallet with no use looks like a scam :) How can you be rewarded for nothing? Banks pay out interest on deposits, because they spin the money. Liquidity pools pay out for providing liquidity. Crypto staked on exchanges is usually used for leverage trading. HBD in Savings is in Savings, and nothing else.
The interest rate can be kept for months, years perhaps. But from my point of view, it does not bring any benefit to the network. Quite contrary, I'd say. I tried to express my thoughts in this post putting down keen reasons for decreasing the rate. The discussion is maybe even more interesting than the post.
But from my point of view, it does not bring any benefit to the network. Quite contrary, I'd say.
I quite agree with you. Also people seem not to realize that these 20% apr are actually an added inflation to the hive blockchain. There is no value generated here, it's only redistributed through inflation.
Yep, and that is why an open discussion should arise on this topic. The community should self-govern itself and keep its members informed. We are the community, so we all are responsible for that.
I am glad this post already has over 100 comments :) Good job and great outreach!
The question is how do we define sustainability? When price of hive is declining in respect of other crypto tokens, this can be a side effect of the additional inflation. It's not easy to see if things are sustainable or not and maybe when they will be clearly visible it will be too late to change something.
Yes, once we cross that bridge it will be difficult. Reducing the rate slowly and gradually over few years may help. What i mean is reduced by 2% and see the effect for a year or two and then reduce further by 3% and see it's effect for a year and so on. Investors may not mind small cuts to the rates, than a very huge reduction.
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