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Re:Another stablecoin loses peg – DEI team working to restor... by omnibrain on Tuesday May 17, 2022 @10:55AM (#31411636)
> Yes, a true "stablecoin" would be 100% backed by deposits in a known and verifiable money market account and able to be withdrawn into USD or other real currency on demand at a 1:1 ratio.

But where would be the money in that?

Re:Another stablecoin loses peg – DEI team working to restor... by lokedhs on Tuesday May 17, 2022 @12:44PM (#31413252)
You could invest it in bonds issued by the central bank for the currency you're tied to. But that would only provide a stable income with essentially zero risk (since your binds are denominated in the same currency you're linking to).

But that won't be enough money for these people, of course

Re:Another stablecoin loses peg – DEI team working to restor... by tdhoot on Tuesday May 17, 2022 @01:48PM (#31414099)
That's not without risk -- you might have to sell the bonds at a loss if there is a run on the currency.