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Except you aren't buying a USD when you buy a stablecoin. You are buying a fraud that pretends to be a dollar. A true dollar, offered by a bank or money market
by dragontamer 4y ago
Except you aren't buying a USD when you buy a stablecoin. You are buying a fraud that pretends to be a dollar.
A true dollar, offered by a bank or money market fund, has assurances from the US that it really exists in our federal reserve system.
A stablecoin is a chuck e cheese token pretending to be a dollar. I can make an excel spreadsheet pretending I have a billion dollars, but I'd be a liar if I did that.