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I think it would make them illegal. As it probably should, I'm not aware of any that are not an elaborate scam.
by svachalek 5y ago
I think it would make them illegal. As it probably should, I'm not aware of any that are not an elaborate scam.
- __MatrixMan__ 5y agoI read your comment and then started reading about at MakerDAO's governance model. It doesn't jump out as a scam to me, just a clever bit of game theory. What am I missing?
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- bduerst 5y agoDAO is crypto backed by crypto. I think GP is referring to the lack of transparency with fiat-backed stable coins, like tether.
- sputknick 5y agoDo you have any thoughts on how you would do that? Isn't that as practical as outlawing Bitcoin?
- svachalek 5y agoI'm not the government or even a lawyer. But I'd imagine they'd block companies from trading Bitcoins for dollars or mining Bitcoin. Turn off all the ETFs and options trading. Say Tesla and MicroStrategy can't hold it in their treasury. I doubt they can make it disappear but that would certainly put a dent in US adoption.
- lottin 5y agoThey can make it illegal to buy and sell these stablecoins. The exchanges where the stablecoins are bought and sold would have to delist these coins or face criminal action.
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- sanderjd 5y agoHmmm, I'm aware of some that aren't scams. MakerDAO and OlympusDAO aren't scams. They might fail utterly, but lots of things that aren't scams are just good faith failures.