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If I create a USD-stablecoin with a supply of $1 backed by my $1 in US bonds, is that legit?
by exdsq 5y ago
If I create a USD-stablecoin with a supply of $1 backed by my $1 in US bonds, is that legit?
- Scoundreller 5y agoBut nobody in crypto would willingly trade their crypto for something backed by fiat and therefore inflating. Right?
- incrudible 5y agoWrong. Unlike bank deposits or treasury notes, stable coins have interest yields to outweigh inflation.
- Scoundreller 5y agoI guess as far as counterparties go, people trust a bank or the fed more.
- incrudible 5y agoThere is no counterparty risk in a smart contract involving only digital assets. There is systemic risk, however.