Fun with stablecoins! Tldr: 3 options, all suck Full reserve (e.g. Tether) -> too expensive (but least risky) Fractional reserve (e.g. Reserve) -> bank runs Uncollateralised bonds (e.g. Basis) -> demand faith in future growth right when faith is lowesthttps://www.project-syndicate.org/commentary/stable-coins-unviable-cryptocurrencies-by-barry-eichengreen-2018-09 …
0 replies
1 retweet
0 likes
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.