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If we are going to have to put in HBD for the VSC is the return going to better than the savings of HBD?
I wonder if this may unstabilise HBD and what other effects it may have on other tokens.
There is a lot of unknowns going on here could be interesting to see how this works out hopefully it is a good thing overall.
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Staking HBD in VSC gives a 15% APR too, but it also produces sHBD, which is transferable and tradeable, so it gives more options. I still haven't staked any HBD yet, but I probably will soon, to experiment.
Well, between SpendHBD/Distriator and VSC, everyone's going to need a whole lot more HBD, so that's a good question about how this will affect the token economy.
It is very new, and also quite different from anything which has been done before, so aside from the dev team and the testers, we're all learning as we go. I believe that VSC will be a very beneficial and positive thing for Hive.
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I wonder if more people on Hive would hold more HBD (on the first layer of the Hive blockchain) if it continued to earn 15% interest whether or not it is staked !INDEED. 🤓
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That'd be a nifty trick, and good question. 😁🙏💚✨🤙
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The majority of top #HiveEngine Witnesses can decide to have a Hive Engine fork where SWAP.HBD earns APR (something like 15% per year) without the need to stake them. 🤓 That way, there will be a decentralized way to earn from holding HBD apart from putting HBD into Hive Savings. 😎
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Indeed, though unless there was strong community support, it wouldn't succeed. Also, if HBD earned interest without staking it, what then would be the point of savings at all? 😁 🙏 💚 ✨ 🤙
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I was just referring to the possibility, not the likelihood (of SWAP.HBD getting APR without getting staked first) !INDEED. 🤯😅
One useful purpose of HBD and HIVE Savings is to protect such of a Hive account (from unauthorized access), since it takes 3 days to withdraw from it. 😎 Anyone can also put HBD or HIVE to any Hive account's savings. 🤓 When a Hive account's active (or owner) key is compromised, its owner has 72 hours to change the private keys of the account to save all the funds in savings. 😏
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Indeed, and OK.
Yes, that protective feature is useful, true. 😁 🙏 💚 ✨ 🤙
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That savings feature is helpful for people on Hive who want to safely stack on liquid HIVE and/or HBD without creating a cold wallet ("air-gapped" Hive account) for it and learning advanced methods !INDEED. 🧘♂️🤓
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Yep, again true. 😁 🙏 💚 ✨ 🤙
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That safety feature for any Hive account also applies just in case its private active (or owner) key gets leaked, where if the "good guys" catch the leak first, they will immediately put all HIVE and HBD tokens into the Savings of the Hive account and give the owner 3 days to change the keys. 🤓
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Indeed, and again, also true. 😁 🙏 💚 ✨ 🤙
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Another way to keep the tokens of an unattended Hive account whose private active (and/or owner) key has leaked safe is to transfer all its tokens (probably including its #HiveEngine tokens too) to a Hive account whose owner (or owners) is both trustworthy and competent, such that the owner will simply return the tokens once the owner of the Hive account with leaked keys successfully changes his/her account's keys. 🤓
The advantage is that there will be enough time for the owner of the account to change the keys, though the disadvantage is that the owner of the other Hive account who temporarily keeps the tokens will be responsible for returning all the tokens after verifying if the person who changed the keys is indeed the owner of the account. 🤯🤯😅
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Well, that's certainly one way to do it. 😁 🙏 💚 ✨ 🤙
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What do you think about the reset account that used to be changeable from @null from the blockchain where Hive emerged? 🤔 If you haven't heard about it, the reset account basically can reset any private key of a Hive account. 🤯🤓
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I've never heard that term. I do know about recovery accounts, however. 😁 🙏 💚 ✨ 🤙
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People on Hive (even very active ones) still often confuse reset account with recovery account, like what I noticed on my comment 4 years ago. 🤯 If reset accounts didn't exist on Hive or on the blockchain where Hive emerged from, then people would have easily and accurately interchanged reset accounts with recovery accounts !INDEED. 🤓
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Well, until you just mentioned it, I had never heard of reset accounts. 😁 🙏 💚 ✨ 🤙
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You just learned something new about Hive from our conversations !INDEED! 😎😏
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Indeed, though I have no real idea about how to use them. 😁🙏💚✨🤙
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Reset accounts can no longer be changed when Hive emerged from the previous blockchain, and it is set to @null by default. 🤯 They were supposed to act as the account that can reset the private keys of a Hive account, even if the keys weren't recently changed. 🤓 Reset accounts were disabled because of some challenges (both technical and legal) mentioned by some Hive Witnesses and their supporters. 🤯
Anyway, I wonder if the
themyou are referring to are the Hive reset accounts or this conversation itself (or both). 🤯😅OK, thanks for the explanation. So they're like the predecessor to recovery accounts.
The first option. 😁🙏💚✨🤙
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If only the (technical and legal) challenges of Hive reset accounts are managed well, then it would be convenient for a person on Hive to have only a single Hive account (the primary one) to have multiple copies of its private keys backed up safely, and not worry about losing the other (alt) accounts' keys. 😎
That sounds great, and I'd love to see it.Now I'm sad that they don't work any longer. 😁🙏💚✨🤙
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