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by colesantiago
981 days ago
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At least we know it was backed by _something_, fiat is the worst system except all the others. Yet USD is legal tender for US taxes and there is a shared interest in using USD rather than some risky unknown potemkin token like 'stablecoins', which nobody accepts or wants. And you cannot pay US taxes with your stablecoins, so there's that. > Stablecoins don’t need to be backed by anything to be stable... So then we will get a LUNA situation of being backed by 'algorithms' then everyone is screwed when the token inevitably goes to zero. Recommended Reading: https://www.stephendiehl.com/blog/stablecoins.html |
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I know many, many people in many countries who accept stablecoins as cash-equivalent. I think perhaps you underestimate the market.