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Yes, Terra had quite insane ponzinomics. But that is a poor argument against what stablecoins could be. Why are you arguing against letting anyone with an inte
by siftrics 4y ago
Yes, Terra had quite insane ponzinomics. But that is a poor argument against what stablecoins could be.
Why are you arguing against letting anyone with an internet connection save US dollars? Should only US citizens be allowed to save US dollars? Why should we prevent humans from having that option?
- josefx 4y ago> But that is a poor argument against what stablecoins could be. Why did the argument suddenly switch from "have been for years" to "theoretically there could exist a stable coin that isn't outright fraud"? Is the reason that you can't think of a single example that is actually trust worthy?
- siftrics 4y agoUSDC, USDH, DAI, the list goes on
- everfree 4y ago> you can't think of a single example that is actually trust worthy In addition to USDC, USDH, and DAI, we've also got GUSD, RAI, LUSD, and USDP in terms of trustworthy stablecoins. All of them are audited in reputable ways, either by large accounting firms or directly on-chain by cryptography: https://news.ycombinator.com/item?id=31381864 https://news.ycombinator.com/item?id=31381864
- josefx 4y ago> All of them are audited USDC decided to remove guarantees from its site and invest its reserves as it saw fit without any guarantees or limitations on risk in 2021 before returning to form several months later. This happened despite the reserves being subjected to attestations every month. So it might be a good idea to start a list of trust worthy stable coins with just about anything else, especially if you want to give the impression that the attestations are actually worth the paper they are printed on.