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Assuming people can know which assets are backing it.
by buildbuildbuild 5y ago
Assuming people can know which assets are backing it.
- relax88 5y ago“Commercial paper” (aka IOUs from crypto exchanges)
- huntertwo 5y agoAnother assumption is that people can go to Coinbase and reclaim their USD fast enough to cause a run on the bank. While anybody with a Coinbase account can do USDC->USD conversion on the fly, Coinbase ultimately controls the speed of withdrawals and conversions.