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re: Why bitcoin is worse than a Madoff-style Ponzi scheme
Posted on 12/26/21 at 7:58 pm to Billy Blanks
Posted on 12/26/21 at 7:58 pm to Billy Blanks
quote:
Stablecoins meaning btc, eth etc?
stablecoins means coins pegged in value to something stable, like the dollar. They typically are created by companies who guarantee their backing. These coins operate on crypto rails like the Ethereum network, which allow for you to send them peer to peer without a trusted intermediary.
Regulators are coming in hot for stablecoins and in the future only FDIC institutions are likely to issue them, IMO.
2
Posted on 12/26/21 at 8:02 pm to Ross
quote:
Regulators are coming in hot for stablecoins and in the future only FDIC institutions are likely to issue them, IMO
This is why I'm excited for the $RAI stablecoin project. A truly decentralized, ETH-backed stablecoin. It's not tied to any fiat, it's just designed to mint and burn and all kinds of fancy algorithmic stuff to keep a stable price.
LINK
Posted on 12/26/21 at 8:11 pm to Ross
quote:
in the future only FDIC institutions are likely to issue them
yeah, and the day that happens 20-30 other weaker currencies collapse
im sure there are conversations about the ramifications of this; what do you do if you're the leaders of a weaker nation-states?
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