1/ Watching #btc volatility & thinking about current use cases, I finally appreciate why @VitalikButerin says it's important to make a StableCoin. Ppl should be able to store value w/o taking on all this currency risk.
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5/ Making one, however, without centralization or counterparty risk, is...non-trivial. But deeply fascinating if you're into monetarism & cryptoeconomics! Looking forward to continued community speculation on the topic.
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6/ p.s. since many seem unversed in the basics of how & why to make a "StableCoin", some reading: https://blog.ethereum.org/2014/11/11/search-stable-cryptocurrency/ … https://medium.com/topl-blog/dangerous-volatility-and-why-we-need-a-stable-cryptocurrency-6d66dcd605f8 … https://bitshares.org/technology/price-stable-cryptocurrencies/ …https://thecontrol.co/stablecoins-a-holy-grail-in-digital-currency-b64f3371e111 …
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I agree that it would be nice if it can be made, but as you say *highly* non-trivial. Can't wrap my mind around how an asset could "reject pricing" and instead make more of itself as demand increased, w/o manipulation possibilities..
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Well, Maker DAI basically has interest rates that fluctuate to try keep the price to a currency basket peg. They just launched so we'll see how it does in practice.
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Yeah, will be interesting. I'm just not going to take the bet that a pegged value like that will hold.. I'm more waiting for Bitcoin to grow as big as it wants to be, which should bring stability as everyone who wants in are in.
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Or we could wait for BTC et to mature and stabilize, at least to the extent of other mature currencies vis a vis each other. But no. We want it fully formed and we want it NOW!
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I'm reading now the bitshares article, and it reminds me of Plano Real, the way Brazilian government found to create a stable currency and to end the hyperinflation of the 90's. The gvt initially created a unit pegged to the dollar and gradually was replacing previous currency.
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2/2 Why treat a completely new concept with legacy behaviour? Makes no sense.
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1/2 Here is another point of view, a design thinking POV. BTC is blockchain. If I use blockchain for a contract, does that contract changes value over time? No. However, if I put gold on such contract, his value will change.
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Stable coin is possible only when fiat currencies and debtocracies cease to exist.
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Completely agree and thanks for the link ! Time to do some reading ...
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Many will say that we have Tether but that is NOT the answer.
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Sit tight and wait for
@therealbasecoin young one
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