News for hackers. Stuff that matters.

A comment on Cryptocurrency is something people tell lies about in hopes of getting richer. Parent comment

Re:Cryptocurrency is something people tell lies about in hop... by leppr on Friday September 24, 2021 @03:20PM (#28646693)
L2s and decentralized stablecoins keep the dream of a free decentralized economy alive. It's a smaller community for sure (as most pretend enthusiasts aren't actually interested when there's no Ponzi in it for them, and most detractors would rather focus on easier strawmen), but it exists and it's thriving.
[ Parent | on HN ]
Re:Cryptocurrency is something people tell lies about in hop... by arisAlexis on Saturday September 25, 2021 @06:32AM (#28652003)
Stable coins do not solve the money printing problem at all. Their existence is mostly for avoiding tax events when speculators sell tops and buy dips. Also they are as centralized as it gets.
[ Parent | on HN ]
Re:Cryptocurrency is something people tell lies about in hop... by leppr on Saturday September 25, 2021 @10:17AM (#28653399)
The term "decentralized stablecoins" itself precludes the USD-pegged voucher tokens you're referring to.

I'm talking about things like Reflexer's RAI[1], which is designed to have stable value independently of any singular currency, and whose most centralized component is price oracles (so not very centralized).

[1]: https://reflexer.finance/

[ Parent | on HN ]
Re:Cryptocurrency is something people tell lies about in hop... by arisAlexis on Sunday September 26, 2021 @07:23AM (#28659980)
Are you sure that if the dev team will ababdon the project tomorrow it will b existent and people will trust it 5 years for now? If not, it's centralized. Also, how can it be a stable coin if there is nothing explicitly stated as peg?
[ Parent | on HN ]