Re:A faster, more efficient cryptocurrency
by thisisit on Tuesday February 19, 2019 @03:24AM
(#19197463)
>If they work
That is a big "if". Stability is a principle which has been tried time and again in fiat money and failed. Too many times to count. See GBP peg etc. for examples.
If something is unstable, it is because the market deems it to be. Adding an artificial support goes against that same market.
Cryptocurrency circles like to talk about government control being a bad thing. But in the same vein cheer stablcoins which exert near similar control - by algos or by adding coin supply. They want to have their cake and eat it too.
That is a big "if". Stability is a principle which has been tried time and again in fiat money and failed. Too many times to count. See GBP peg etc. for examples.
If something is unstable, it is because the market deems it to be. Adding an artificial support goes against that same market.
Cryptocurrency circles like to talk about government control being a bad thing. But in the same vein cheer stablcoins which exert near similar control - by algos or by adding coin supply. They want to have their cake and eat it too.