Why I am considering getting rid of my Hive dollars

I have had positive experiences with using Hive dollars compared to just keeping paper dollars under the bed:

• Acceptance there is a growing but a limited group of places that accept HBD.
• No fees there are no transaction fees
• Transfers over the internet is the big benefit of any digital currency (including dollars in the bank)
• They cannot be confiscated.
• No single authority that can block transactions.
• Predictable prices. Prices denominated in this currency remain nearly constant over years.
• High interest rate

Predictable prices is a direct result of being well pegged to the US dollar for now. If we think that the US dollar is going to lose its value suddenly, the peg would hurt this property rather than help it.

So here is why I keep some what a large amount of Hive dollars. It has its problems:

• First problem with Hive Dollars is external: Acceptance. There is a growing but a limited group of places that accept HBD.
• The peg of the US dollar.
• The lack of a multisignature wallet solution that could keep dollars into a multi-factor savings account.

The US dollar is losing its use as an international means of transfer between countries. It is still a short term store of value but for how long? A loss of value in an asset punishes the savers and rewards the borrowers. Hive dollars has never been a competitor of Bitcoin but instead another way to save part or all of the fiat portion of savings.

I'd be hard pressed to find a stablecoin pegged to the Euro or Yuan or Rubble that pays interest like Hive dollars. The Golos blockchain is dead apparently as well. Imagine what a disaster it would have been if I had bought Golos backed gold grams!

I stayed away Luna,Terra and from FTX and interest bearing "accounts" in Bitcoin from everything else. I only use centralized exchanges (CExes) for a rapid and relatively small amounts to ($150 or less) deposit, trade, and withdraw in the same day. It is a necessary evil. There is no way we could put the economy into the BTC (bitcoin segwit) blockchain. We couldn't fit it even on the BCH (bitcoin cash) blockchain. At least we can sequester large amounts of savings away from banks and exchanges.

Posted with proof of brain