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Do you want to buy my synthetic dollars with the price pegged to a dollar? edit: I just realized this is exactly what USDT is, but I still feel like it will al
by professor_v 6y ago
Do you want to buy my synthetic dollars with the price pegged to a dollar?
edit: I just realized this is exactly what USDT is, but I still feel like it will all come burning down at some point. Maybe it will take 30 years though.
- JumpCrisscross 6y ago> Do you want to buy my synthetic dollars with the price pegged to a dollar? This describes like half of finance. Treasuries, bank deposits and credit cards all represent to varying degrees “synthetic dollars.”
- pgwhalen 6y agoYep, and it's not some new-fangled form of finance, it is the entire history of finance. There is a hierarchy of money, and it has always been so. I highly recommend this Coursera course to shed light on this: https://www.coursera.org/learn/money-banking https://www.coursera.org/learn/money-banking https://www.coursera.org/learn/money-banking https://www.coursera.org/learn/money-banking
- bouncycastle 6y agoYes, exactly! There are also real world examples of currency pegs, for example the Hong Kong Dollar, which is pegged to the USD since the 70's.