[logifail]

> stabilized crypto that could act as an amazing tool for people in poor countries to lift themselves out of poverty

If cryptos were stable, no-one would be making any money "investing" in them.

(Genuine) Q: How exactly would that lift anyone out of poverty?

[BobbyJo]

I'm not a fan of crypto, but having a stable currency that the local government can't inflate/manipulate for their own gain would go a long way in many developing countries.

Think about it this way, how much trade would the US have if our currency changed every 10-20 years and all of our old debt was effectively thrown out? How would people save to build a business? How secure would they feel investing in their own future?

[logifail]

> having a stable currency

The devil's in the detail: "stable" but vs what, exactly? Local prices? Local incomes? Gold? USD? SDRs[0]?

[0] https://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/14...

[BobbyJo]

Stable, to some degree, in all of those respects, since they are interdependent. Being stable with respect to any of the above indicates a degree of stability with respect to the rest. You can't be stable against gold without a degree of stability against USD, as USD/Gold is pretty stable, and arbitrage would close the gap. Likewise with local prices and income.

I'm not familiar with SDRs.

[logifail]

> USD/Gold is pretty stable

Umm, I'm not sure I can agree with that[0]

To be fair, it was fairly stable until about 2006. However the whole point of "being stable" is also to be stable in times of external stress. USD/Gold fails that one quite spectacularly.

[0] https://goldprice.org/charts/gold_30_year_o_x_usd.png

[BobbyJo]

That's significantly less volatile than Yen/USD. Stability in currencies is pretty relative.