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how do you know the stablecoins are actually collateralized? https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d

• Carlton2082 6y ago
  The fourth word on Tether's wikipedia page is "controversial". Nobody is under the impression that it's fully collateralized. Would you care to make the case that a different, trusted stablecoin isn't fully collateralized? DAI specifically is collateralized with ETH using smart contracts - it's over 100% collateralization is incontrovertible.
• mercurial_sucks 6y ago
  DAI is a trustless stablecoin collateralized by eth. OP literally linked it's whitepaper and this was your reply
  • ameister14 6y ago
    Sure, it's collateralized by ethereum - the problem with that of course is that ethereum is a completely manipulated price driven up by billions in falsely collateralized tether. So effectively, you've linked DAI to the value of a coin that is set by tether. That being the case, the actual value of the collateral is in question. That's why I replied that way.