Stablecoins intuitively feel fragile to black swan events.
They attempt to create game-theoretic incentives so that even a minority of speculators can make money by keeping the peg at $1.00
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What project is that?
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Basecoin
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Wont be so stable... They are just controling money supply but not velocity of money M x V = P x T
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You only need to control 1 variable. Velocity of money is uncontrollable, that’s central planning and it never works.
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So value of this stablecoin wont be so stable, and it wont be so decentralized as oracles will be needed to provide exogenous price data, hence vulnerable. I just dont see it and dont think there will be incentives to store value in a stablecoin having deflationary alternatives
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Bitcoin is unusable as MoE/UoA until it is 10T, and even then, we don’t know if it will be stable enough to underwrite long term contracts with (Gold has 15% annual vol)
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Yeah, my view is that you will use an index as UoA and a 10T BTC as MoE, no stablecoin needed
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If Indexes are so good, why do we use USD to underwrite everything today?
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