Re:Bitcoin is more like ham radio than the early internet
by centimeter on Monday July 13, 2020 @02:01PM
(#23823632)
Stablecoins are either actually unstable or fully centralized. They aren’t germane to this discussion.
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Re:Bitcoin is more like ham radio than the early internet
by Sargos on Monday July 13, 2020 @02:06PM
(#23823671)
There are multiple decentralized stablecoins out there. DAI is the most well known and works pretty well. sUSD also works well. mStable is the best of both worlds and uses both decentralized and centralized stablecoins in a basket to form an even more stable, stable coin.
They are very relevant to the discussion as stablecoins will be the primary way people interact with decentralized services and decentralized stablecoins retain the decentralized and trustless properties that make BTC and ETH valuable.
Re:Bitcoin is more like ham radio than the early internet
by centimeter on Monday July 13, 2020 @06:02PM
(#23826072)
No decentralized stablecoin actually makes economic sense. Several have collapsed. https://cointelegraph.com/news/breaking-the-peg-every-stable...
Re:Bitcoin is more like ham radio than the early internet
by dnprock on Monday July 13, 2020 @07:45PM
(#23826973)
DAI is made by pegging on Ethereum. Ethereum is a volatile asset due to its limited supply. DAI is inherently volatile. Its peg can fail. No amount of algorithm and automation can fix the problem. To be digital native, you need to accept some level of volatility. DAI promises the impossible. I wrote about this issue.
https://bitflate.org/post/2020/03/14/the-problem-with-dai.ht...