So-called stablecoins are cryptocurrencies which attempt to maintain a stable price denominated in a traditional currency. Cryptocurrency enthusiasts think that this would be the thing which would make cryptocurrency useful for commerce.
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I’m very, very skeptical about the mechanics, but I’m even more skeptical about the claimed benefits, which are “This thing that you call Totally Not A Dollar is worth $1 but because it’s not a dollar all those pesky money laundering regulations don’t apply to it.”
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It’s just Liberty Reserve, except with more exotic operational risks.
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End of conversation
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you know what the Fed does with its annual seigniorage? remit it to the US Treasury. in reading through
@basisprotocol material it doesn't mention being a charity. the#basecoin investors seem to want to earn seigniorage w/o having a CB backstop. more than a bit foolish?Thanks. Twitter will use this to make your timeline better. UndoUndo
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