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Re:Cryptonomicon: Among the Bitcoin maximalists by landemva on Saturday February 26, 2022 @11:39AM (#30479086)
DAI is a stablecoin not relying upon off-chain backing.
Re:Cryptonomicon: Among the Bitcoin maximalists by kragen on Monday February 28, 2022 @02:51AM (#30497426)
Thank you! I didn't remember that, though I must have heard of it at some point. However, its metric of "stability" is apparently US$1, so by holding Dai you are still betting that the Federal Reserve will not decide to make its money machine go brrr. Holding Bitcoin involves no such bet on politics, though it certainly has a lot of short-term volatility.