1/ https://blog.coinbase.com/coinbase-and-circle-announce-the-launch-of-usdc-a-digital-dollar-2cd6548d237 … Circle/Coinbase USDC seems to round out all the big dollar-backed token news. I'm a blockchain pluralist but I love bitcoin (count # of mentions in recent senate testimony). Nonetheless...
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Replying to @valkenburgh
Has anyone examined the risk of multiple stablecoins all pegged to the USD - some backed by real USD and some perhaps not - and the impact if there is a run on a less stable stablecoin?
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Replying to @Bitfinexed @valkenburgh
I suspect that the taxation folks may look at some sort of deemed disposition rule if one converts a crypto holding to a stablecoin.
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Replying to @jvanderlaan @valkenburgh
But you could do this 'on-chain' and there's no identity information. Essentially every stablecoin becomes a Liberty Reserve.
10:20 AM - 23 Oct 2018
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