does it make sense for a stable coin? should libra have been backed by gold?https://twitter.com/NickSzabo4/status/1153744861884866560 …
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So far not one stable (Really should be called pegged) coin has reached massive adoption...Not a gold-backed one...Not one...Then there is Tether which is huge...Makes you realize it is trust that makes the coin, not the asset that backs it supposedly...
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right. so if you're going to go down that route, might as well use gold? trying to understand why they chose to back it with a basket of bank deposits and short-term government securities instead. what's the advantage?
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None that are obvious to the average person.
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perhaps to prove to policymakers that they share their interest in the ongoing stability of national currencies? or perhaps a fear of appearing unconventional? or both?
End of conversation
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