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You missed c) you want to make a lot of money by creating a new stablecoin and granting some percentage of it to yourself.
by UncleMeat 5y ago
You missed c) you want to make a lot of money by creating a new stablecoin and granting some percentage of it to yourself.
- wiredfool 5y agoThe ability to create money out of thin electrons can't be undervalued. If you’re 80% collateralized and 1% is fu money, there’s no defense against going to 78% collateralized if the code allows it.
- zaphar 5y agoThe code can't exactly prevent it unless your collateral is another crypto asset but then you can't peg against something like the Dollar because the crypto asset is guaranteed to fluctuate in price. Code can't enforce anything outside of the blockchain. It has to rely on an oracle and oracles can lie.