Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies
by Jasper_ on Monday July 26, 2021 @02:33PM
(#27963328)
Cryptocurrency does not help with this. Also, I asked people to name a project that isn't speculation or loans.
[ Parent
| on HN ]
Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies
by cbthrow91 on Monday July 26, 2021 @02:47PM
(#27963535)
https://cointelegraph.com/news/synthetix-is-already-tokenizi...
"The Synthetix (SNX) project, one of the biggest ecosystems in decentralized finance (DeFi), recently launched the Hadar upgrade, which enabled tokenized real-world assets like Brent oil and the Nikkei stock index."
Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies
by gamblor956 on Monday July 26, 2021 @03:14PM
(#27963963)
The article describes Synthetix as a means for speculating on real-world assets through the trading of tokens representing equity actually held on other exchanges. However, the tokens themselves merely underly the SNX crypto actually being exchanged.
IOW, it's just another vessel for speculating which purports to be backed by real financial assets in the same way Tether purports to be backed by cash.