News for hackers. Stuff that matters.

A comment on MakerDAO’s “DAI” stablecoin is breaking, as predicted. Parent comment

Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by zodiac on Saturday January 13, 2018 @09:51PM (#16142564)
If there are thin enough markets of course "always maintains purchasing power" is impossible. This is true for USD ad well.
[ Parent | on HN ]
Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by pjbyrne on Saturday January 13, 2018 @09:56PM (#16142582)
The difference being that USD doesn't pretend to be pegged to anything. My point about MakerDAO is that the development team is claiming the impossible is possible.
[ Parent | on HN ]
Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by zodiac on Saturday January 13, 2018 @10:06PM (#16142626)
One of the many aims of US monetary policy is that USD doesn't lose too much purchasing power too suddenly (eg no unexpected hyperinflation). Of course any currency from a decent country would aim for this kind of soft peg.

I guess you're technically correct that their marketing material claims to go beyond this in a eay which is technically impossible

[ Parent | on HN ]