Hacker News new | ask | show | jobs
by axus 1485 days ago
Is this true of any currency pegged to an exchange rate, such as yuan, ruble, and riyal?
1 comments

I mean, it’s true that the peg may in some instances be difficult (or undesirable) to maintain, and may be dropped (the yuan isn’t strictly pegged to the dollar anymore, say). But at that point the currency will generally still be a useful currency. The only value of a stablecoin is that it’s pegged to something; once the peg is lost it becomes largely useless.