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> The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts. ETH, BTC, etc. -
by mjburgess 4y ago
> The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts.
ETH, BTC, etc. -- it's all a pyramidal ponzi scheme.
Inside the pyramid scheme, "products" have a value. Outside, they dont. This is all going to zero. It's just beanie babies for tech bros.
It's kinda amazing your use case is to simplify problems people inside the system have. Do your research into MLMs.
Hopefully this collapses inside of 6mo, it'll be a disaster if it survives long enough to impoverish large numbers of people.
- jsutton 4y agoIt seems you don't realize that ETH products like USDC are redeemed 1:1 with their fiat counterpart USD through regulated banks. Again, your view is demonstrably wrong, as products "inside" the system have value outside the system. Unfortunately your view seems to be the majority in HN. Quite disappointing from a supposedly forward thinking community. I'll be hearing the lazy beanie babies or tulips comparison for the next decade.
- mjburgess 4y agoIf you think the stablecoins are actually 1:1 backed, I've a bridge to sell you. They are leveraged like crazy, and rabid market manipulators.
- deleted 4y ago[deleted]