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

Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by erikpukinskis on Saturday January 13, 2018 @10:00PM (#16142602)
A stablecoin isn't a store of value. It's an instrument for holding pretend Fiat. It's a way for holders to pretend they are the Fed, and say "Now I have USD! You can have it. Just sell it back to someone else eventually because it's pretend."

It's an index basically, not an actual commodity.

(Except of course in the sense that Everything Is A Commodity in the crypto world.)

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Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by MicahZoltu on Sunday January 14, 2018 @03:10PM (#16146087)
Eh, I wouldn't quite call it an index. While I agree that it isn't _actually_ 1USD (or whatever it is pegged to), it is backed by other assets (in the case of DAI today, it is backed by ETH) and the system is setup such that there should always be more ETH backing the DAI than necessary to make everyone whole.
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