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RE: Should we consider pegging HBD to gold instead of the US Dollar?
I kinda agree that if you want to do something like Hive Backed Gold, it should be a separate token. The mechanisms stabilizing HBD seem to have been effective so far, so this should also work for gold
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Nobody wants a token that’s not backed by real value. A peg via a stabilizer wouldn’t work.
And gold backed crypto’s r silly too. The whole purpose is not needing to trust a third party. It is the wiser of both worlds, U don’t hold the metals , and u have to trust a centralized third party on other side. People will learn hard way. The only mainstream gold backed crypto keeps there gold at the Canadian mint 😅. Defeats whole purpose
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Except the gold pegged token would become more valuable over time as the HBD decreases in value! Running in parallel might be an interesting experiment!
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