Conversation

Do Kwon 🌕
@stablekwon
Algorithmic stablecoins are fast becoming the norm - protocol-issued dollars coming to every blockchain. Detractors cannot see - currencies are ultimately backed by the economies that use them, and the future is clearly opting to use decentralized and self sovereign stablecoin💰
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pj 🌑
@pjdotcrypt
The same way the
@sixers
success is dependent on referee's willingness to call fouls, fiat/stablecoins success is dependent on people's willingness to accept/use/hold them
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btcdentist🇰🇷🇺🇸
@btcdentist
Replying to
@stablekwon
Peg to a basket of commodities. The stablecoin of Terra could be the most stable form of currency if we peg it to stuff like Soju, kimchee, and pork bellies. Few understand. Bitcoinmaxis not onboard w this need to go jerk themselves off.
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Rg
@canwinlol
Replying to
@stablekwon
you say the currencies are ultimately backed by the economies that use them and you peg UST to USD, backed by the US government. by that logic, isn't UST just a representation of US economy?
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Yemxgrunt
@yemxgrunt
Hey man, you realize there are a variety of stable coins on terra right? "Pegged" to that specific countries currency. $ust happens to be the most popular.
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Show replies
João
@theARTof_US
Replying to
@stablekwon
use = people + businesses = economy that's all it takes, even if govs try to mess up with it, in the end people will use wich form of currency they choose to
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AttemptAtCivility
@ACivility
When the dollar is no longer the default standard currency, the economy just functions with the constant value of the stablecoin. Pegging to USD is a bridge to current perceived value, the stable eventually defines the scale of value without the need for fiat - always 1 of itself
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