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Iran and Russia to issue a new stablecoin backed by gold
- keikobadthebad 4y agoWhat could possibly go wrong?
- strangattractor 4y agoWhy not just buy gold backed securities? Or do 2 international pariah states just want a way to evade sanctions. Seems like this is the only problem Dr BitCoin's Elixir ever solves.
- Finnucane 4y agoAren’t these the same guys who came up with the idea of stabilizing the ruble by forcing gold miners to sell at a discount?
- pjkundert 4y agoI'd likely use it, in preference to savings in any Fiat currency. Of course, the magic of any crypto "Stable Coin" is in the redemption... How can anyone (outside Russia or Iran) convert their holdings into physical Gold?
- jqpabc123 4y agoSo the real question becomes --- do you trust Iran and Russia? Just like with crypto --- how do you verify the backing?