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The cryptocurrency space looks a lot different than it did 3 years ago... I hope they focus on supporting stablecoins. All the benefits of cryptocurrency (censo

The cryptocurrency space looks a lot different than it did 3 years ago... I hope they focus on supporting stablecoins. All the benefits of cryptocurrency (censorship resistance, etc) without having to hold on to a volatile asset.

deleted 5y ago
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thefounder 5y ago
I hope that too but for stable coins to work you need atm machines and multiple exchanges otherwise you end-up with another paypal thing.
johnebgd 5y ago
They should issue their own stable coin. There is too much fraud with Tether to support it and another reputable stable coin in the industry will only help things.
gh55 5y ago
I don't assume intent but this comment is disinformation - stable coins are some of the riskiest major assets in the space, since their backing is questionable at best[1], and even those that are "backed" are inescapably custodial with all that entails (lack of censorship resistance being one unavoidable property so long as coins retain any sign of fungibility). I hope they "concentrate on" Bitcoin - which under close examination seems the first time hard money has ever been created. 1. AAVE Risks per Asset https://docs.aave.com/risk/asset-risk/risks-per-asset https://docs.aave.com/risk/asset-risk/risks-per-asset
- chizhik-pyzhik 5y ago
  Stablecoins are indeed immature. But volatile assets don't make for good money. Have you heard of Gresham's Law? "Bad money drives out the good"- that is, people will hoard the lucrative asset (bitcoin) and actually use the boring one (stablecoins).
- 3np 5y ago
  What about DAI though?
  - alasano 5y ago
    Same overall risk rating as USDC/USDT for example but for varying reasons. The link which was provided breaks it down. Presuming they are truly equally risky, DAI wins by default imo.
    - 3np 5y ago
      Not the same (or even similar) per your own link actually (which i think you added in an edit after I replied? Either way it’s a decent breakdown). I’m not saying DAI is risk-free or even objectively less risky (though it could be argued); it has a different kind of risk-profile and all-together due to how it’s constructed.
- bb88 5y ago
  AAVE appears hard to trust that since they offer their own tokens. If you're a wall street investor, you want a bank to have an accounting firm that is completely independent from the bank it's auditing -- no side deals, no consulting services in either direction.
- baby 5y ago
  > stable coins are some of the riskiest major assets in the space, since their backing is questionable at best Have you heard of diem/libra, USDC, or celo? Not every project is tether
anaganisk 5y ago
I cringe everytime when people talk about censorship resistance of a glorified key value store. All it needs is a govt approved fork, with all tracking and blocking features and outlawing other forks. Which I’m sure govts will do. No sane govt would want its currency in control by random meme lords dictating its price.

deleted 5y ago

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thefounder 5y ago

I hope that too but for stable coins to work you need atm machines and multiple exchanges otherwise you end-up with another paypal thing.

johnebgd 5y ago

They should issue their own stable coin. There is too much fraud with Tether to support it and another reputable stable coin in the industry will only help things.

gh55 5y ago

I don't assume intent but this comment is disinformation - stable coins are some of the riskiest major assets in the space, since their backing is questionable at best[1], and even those that are "backed" are inescapably custodial with all that entails (lack of censorship resistance being one unavoidable property so long as coins retain any sign of fungibility). I hope they "concentrate on" Bitcoin - which under close examination seems the first time hard money has ever been created. 1. AAVE Risks per Asset https://docs.aave.com/risk/asset-risk/risks-per-asset https://docs.aave.com/risk/asset-risk/risks-per-asset

chizhik-pyzhik 5y ago
Stablecoins are indeed immature. But volatile assets don't make for good money. Have you heard of Gresham's Law? "Bad money drives out the good"- that is, people will hoard the lucrative asset (bitcoin) and actually use the boring one (stablecoins).
3np 5y ago
What about DAI though?
- alasano 5y ago
  Same overall risk rating as USDC/USDT for example but for varying reasons. The link which was provided breaks it down. Presuming they are truly equally risky, DAI wins by default imo.
  - 3np 5y ago
    Not the same (or even similar) per your own link actually (which i think you added in an edit after I replied? Either way it’s a decent breakdown). I’m not saying DAI is risk-free or even objectively less risky (though it could be argued); it has a different kind of risk-profile and all-together due to how it’s constructed.
bb88 5y ago
AAVE appears hard to trust that since they offer their own tokens. If you're a wall street investor, you want a bank to have an accounting firm that is completely independent from the bank it's auditing -- no side deals, no consulting services in either direction.
baby 5y ago
> stable coins are some of the riskiest major assets in the space, since their backing is questionable at best Have you heard of diem/libra, USDC, or celo? Not every project is tether

anaganisk 5y ago

I cringe everytime when people talk about censorship resistance of a glorified key value store. All it needs is a govt approved fork, with all tracking and blocking features and outlawing other forks. Which I’m sure govts will do. No sane govt would want its currency in control by random meme lords dictating its price.