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> stable coins Are not a real cryptocurrency. > pump and dump Is absolutely a regular circumstance. Last what I remember is sawn wood situation on the very e
by eimrine 5y ago
> stable coins
Are not a real cryptocurrency.
> pump and dump
Is absolutely a regular circumstance. Last what I remember is sawn wood situation on the very early 2022, afaik it is worldwide. I do not recommend you to buy right now a sawn wood from big stores before researching a market in your location, because some of big stores have been dumped after buying some big amounts of sawn wood on huge prices, and their warehouses are still full of this trade offer.
> insider information. Insiders on exchanges buying up coins they know are going to be listed.
All of that coins usually does something opposite to skyrocketing very soon after early birds have received a way to short their tokens (I do not have any counter-example).
> proof of work of course is the key enabler as it allows those who are running things to hide their identity
Some entities just don't have an identity, like an artificial intelligence. What if I want my pet AI to buy or change hosting without absolutely any of my participation or even knowing? (it is not my funds, the pet has earned it without my participation as well).
- quickthrower2 5y agowhat makes stablecoins not a real cryptocurrency? They are a currency stored on the blockchain
- eimrine 5y agoThey are not sharing a "no trusted third-party" part of Nakamoto's Consensus.
- _Algernon_ 5y agoThey're not trustless which makes them closer to a privately run fiat currency than a crypto currency.
- Kuinox 5y agotrustless is a myth. if there is no trust, there is no value.
- shkkmo 5y agoWhat is "not trustless" about algorithmic stable coins?
- quickthrower2 5y agoIt needs an oracle at least to announce the value or the collateral in USD.