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OK so my philosophy on "algorithmic stablecoins" 1) sometimes their market cap goes up, which is cool I guess 2) the whole notion of a "stablecoin" that isn't backed by something you're confident will retain most of its value makes no sense

9:08 AM · Jan 6, 2021Twitter Web App

@cryptonator1337

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Whats your take on

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$DAI is backed by a basket of collateral

@bloom_filtrate

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Shortest SBF tweetplanation ever ?

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"Most of its value" relative to what though? It'd just be a $MOONONLY token...

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Hey, it’s backed by code and gallons of coffee! ;-)

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Agreed, The whole point of a stablecoin is the peace of mind it gives you. I don’t wanna exit my risky assets into something that is essentially more risky wtf

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@LunaMaximalist

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You swap USD for X (stable) coin. X coin value is ?. ? = X coin value at time of USD exchange. Stable Coin.

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Very true, BUT the argument is that as the mcap grows and liquidity increases, volatility will disappear or be minimal. Do you think that’s viable?

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has that happened with BTC or ETH?

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talk to him.

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has $66,488,181 liquidity on uniswap info.uniswap.org/token/0x853d95 coingecko.com/en/coins/frax# coingecko.com/en/coins/frax-

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