Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ...
by mercurial_sucks on Monday February 08, 2021 @12:59PM
(#26067822)
DAI is a trustless stablecoin collateralized by eth. OP literally linked it's whitepaper and this was your reply
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Re:Tesla buys $1.5B in Bitcoin, may accept it as payment in ...
by ameister14 on Monday February 08, 2021 @07:27PM
(#26072312)
Sure, it's collateralized by ethereum - the problem with that of course is that ethereum is a completely manipulated price driven up by billions in falsely collateralized tether.
So effectively, you've linked DAI to the value of a coin that is set by tether. That being the case, the actual value of the collateral is in question.
That's why I replied that way.