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In the article, they mention that the price is pegged against 3 currencies (think they said: USD, JPY, EUR)
by thrav 7y ago
In the article, they mention that the price is pegged against 3 currencies (think they said: USD, JPY, EUR)
- markphip 7y agoYou want to buy a product and the seller will accept the coin. The price/value of the coin is totally going to be determined by the seller and what they will accept for the product they are selling. Perhaps if you are in the US or EU and buying an automobile the price will be fairly stable/predictable but if you are in India or China and wanting to buy something from a local vendor the price/value is what the seller will accept.
- semi-extrinsic 7y agoWell, you are still sensitive to manipulation in any of those three, and the governments in question are political allies. FWIW, the EUR/JPY and USD/JPY pairs are historically highly correlated.