Re:Bitconnect founder indicted in global $2.4B cryptocurrenc...
by malermeister on Saturday February 26, 2022 @04:28PM
(#30482139)
Are you sure crypto will solve the problem of volatile currencies? BTC crashes on around a yearly basis [0], it's to find any currency more volatile than that.
[0] https://www.yahoo.com/video/7-biggest-bitcoin-crashes-histor...
Re:Bitconnect founder indicted in global $2.4B cryptocurrenc...
by TimJRobinson on Tuesday March 01, 2022 @02:02AM
(#30510601)
Yes, they're called stablecoins. Dai is a decentralized stablecoin that is always pegged to $1 USD. Rai is a stablecoin that is pegged to itself (using a feedback mechanism).
Both are on Ethereum and if you keep wealth in them that wealth cannot be confiscated or censored (except with a physical wrench attack).
Americans and Europeans have very limited experience with hyperinflation and volatile currencies, plus we have robust banking/fin-tech sectors so of course we're more prone to scoff at the problems cryptos will solve.