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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 Spivak on Saturday January 13, 2018 @10:04PM (#16142616)
But isn't 'hover around the same value long term' maintaing the purchasing power? I guess if you interpret the marketing as 'will literally always be worth $1.00' you'll be disappointed but it's weird to take that interpretation when it's not really attainable for anything that isn't a US dollar.
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Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by zodiac on Saturday January 13, 2018 @10:11PM (#16142637)
It's not even technically attainable for USD. If China places huge market orders for a basket of commodities with USD, USD would lose purchasing power wrt the basket for a short amount of time (I think a few seconds is possible).
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Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by justincormack on Sunday January 14, 2018 @04:49AM (#16143523)
The USD is not pegged to commodity prices.
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Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by zodiac on Sunday January 14, 2018 @11:39AM (#16144917)
You're right - what would you say it is pegged to?
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Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by splintercell on Sunday January 14, 2018 @01:09PM (#16145380)
Literally nothing.
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Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by zodiac on Sunday January 14, 2018 @09:47PM (#16148130)
Then what does the feds 2% interest rate target? Nothing?
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Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by splintercell on Monday January 15, 2018 @05:08PM (#16153873)
The fear of Inflation. But USD is not pegged to anything.
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Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by zodiac on Monday January 15, 2018 @09:06PM (#16155224)
Inflation measures USD purchasing power- how do you think that's measured?
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Re:MakerDAO’s “DAI” stablecoin is breaking, as predicted by splintercell on Tuesday January 16, 2018 @01:04PM (#16160388)
So your claim is "USD is backed by X", it's just that I can't see the X, so tell me, what is USD backed by, without mounting an assault on the term "backed by". Backing means, some concrete promise or claim. USD has no concrete claim or promise behind it.
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