USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained

Re:USDD/Tron near collapse: USDD stablecoin below $0.97, res... by xiphias2 on Sunday December 11, 2022 @07:39AM (#33942644)

This is the first time in the history of humanity that the country leaders can be bypassed and money could be sent peer-to-peer between geographies. There is just no precedent to this (you can't send gold / USD bills on the borders, and when there are banks involved, the leaders could always stop it).

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Re:USDD/Tron near collapse: USDD stablecoin below $0.97, res... by cesarb on Sunday December 11, 2022 @08:33AM (#33943001)

> This is the first time in the history of humanity that the country leaders can be bypassed and money could be sent peer-to-peer between geographies. There is just no precedent to this [...]

"Hawala as a legal concept came to be described as early as 1327, according to Schramm and Taube,[5][6] though the actual practice has existed since the 8th century [...]" https://en.wikipedia.org/wiki/Hawala

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Re:USDD/Tron near collapse: USDD stablecoin below $0.97, res... by xiphias2 on Sunday December 11, 2022 @11:23AM (#33944527)

Looks cool, it's interesting that it's still a working system.

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Re:USDD/Tron near collapse: USDD stablecoin below $0.97, res... by usr1106 on Sunday December 11, 2022 @08:12AM (#33942854)

This might be a nice property in some cases.

However, the massive speculation and pollution caused by crypto make the overall balance look strongly negative to me.

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