Mt. Gox demise as told by a Bitcoin insider

Re:Mt. Gox demise as told by a Bitcoin insider by AgentME on Friday February 05, 2021 @10:58PM (#26044002)

There are decentralized cryptocurrencies that have achieved low volatility, such as DAI. I don't think it's ever gotten more than a couple percent from its $1 target price since being created. (I assume it almost never gets talked about because there's no profit from investing in it and hyping it to others.)

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Re:Mt. Gox demise as told by a Bitcoin insider by Volundr on Saturday February 06, 2021 @12:16AM (#26044321)

DAI is tied directly to the dollar. In what way is it better than a simple bank account for storing value?

The idea behind gold, silver, property, etc as value stores is that they remain valuable regardless of what the currency does. If your value store is the currency itself you might as well just hold the currency.

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Re:Mt. Gox demise as told by a Bitcoin insider by AgentME on Saturday February 06, 2021 @10:34PM (#26052421)

You get the other benefits of cryptocurrencies: direct control and the ability to store or send it online with no middlemen or custodial risk.

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