4 ms·
What's so funny? The FDIC has a track record of payouts and they keep meticulous of every bank they insure, going back to the program inception in 1933.
by mywittyname 4y ago
What's so funny?
The FDIC has a track record of payouts and they keep meticulous of every bank they insure, going back to the program inception in 1933.
- lazide 4y agoWhat I found funny (but apparently was easily misunderstood) is how the poster I replied to was talking so seriously and correctly about stabilizing mechanisms in real (as in world) currencies in the first half, then gave the details on the ‘stabilizing’ mechanism of the ‘stable coins’ - which is they collapse and die if the gap gets too big, and it’s impossible to ‘withdraw’ without spending more on tx fees than you’d get out. Which, I believe is correct and also about as stabilizing as a deadman’s switch on an explosive vest held by an gorilla. Which, hey, gorillas are pretty smart, if they know they aren’t supposed to let go, they’ll try. But it’s not a good idea to spend much time in their vicinity in such a situation. I’d assumed it was an attempt at dry humor, straight man/ad-absurdism style, which I appreciated.