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In a word, no. To have a usable, stable exchange rate into something (other than a related cryptocurrency), there must be another party who stands willing to b
by rlucas 8y ago
In a word, no.
To have a usable, stable exchange rate into something (other than a related cryptocurrency), there must be another party who stands willing to buy and sell the thing at that pegged rate.
Read up on the history of currency pegs. Generally speaking, even with the best efforts of nation-states with millions of citizens, actual gold mines, and literal armies, maintaining a peg is a fool's errand.
- londons_explore 8y ago> there must be another party who stands willing to buy and sell the thing at that pegged rate. Most stable coins claim there is. For example, Tether claims that they hold equal US dollars for Tethers issued. If true, they would be in a position to be able to buy or sell at the pegged rate and never run out of either dollars or Tethers (since they can be manufactured).