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Nope. [edit] Apologies, I had written more, but I guess it didn't get posted. Pegs simply do not hold. They're like pinatas full of money. Even well-supported
by arcticbull 4y ago
Nope.
[edit] Apologies, I had written more, but I guess it didn't get posted.
Pegs simply do not hold. They're like pinatas full of money. Even well-supported pegs can pay off huge if you have enough capital to break open the pinata. This is how Soros made his billions - he broke the peg of the British pound.
It's extremely difficult to create ersatz dollars, it's especially difficult to do that out of marketable securities, and especially difficult to do that out of highly volatile marketable securities.
- charcircuit 4y agoPlease back up your reasoning. Do you think it would be possible to make one that had a 1% chance to last at least a day? Surely if you scale back the requirements eventually it would be possible to meet. Just because something in virtual doesn't mean that it doesn't have value. Why do by people pay for Netflix just to get worthless numbers streamed to them.