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FYI, when people talk about stablecoins, they usually mean fiat-backed stablecoins, which are coins that are expected to maintain the same exchange rate against
by raincole 9mo ago
FYI, when people talk about stablecoins, they usually mean fiat-backed stablecoins, which are coins that are expected to maintain the same exchange rate against fiat currencies, and which is usually just USD. Some literally have 'USD' in their names.
> There's lots of reasons to be concerned about relying on USD.
So no, even if this statement is true it's irrelevant to this thread.
- sigmar 9mo agookay. you realize USDC can be swapped to other currencies in minutes? Do you think Y comb expects founders to just hold the USDC permanently?
- jszymborski 9mo agoI've never raised money, but I'd imagine that's the expectation. Seems personally pretty insane to dump your company's runway into highly volatilr and purely speculative assets which might lose 10% in a single day.
- Calavar 9mo agoSure, you can swap a USD tethered stablecoin to another currency. You can also do that with USD itself. What is the value add of injecting an extra step by first converting your USD to stablecoin?
- Spooky23 9mo agoDude, how are techbro fintech innovators going to buy Ferraris? Think of the adult children!