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1 sat \ 0 replies \ @theinstagibbs 17 Nov 2022
Decentralized stable coins are almost certainly dangerous scams. They're essentially guaranteed to fail eventually, requiring human intervention to fix, maybe.
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0 sats \ 2 replies \ @Majjin 17 Nov 2022
I don't believe that decentralized stablecoins are even possible. There's going to be a part of the stablecoin's operation that will be centralized because you're essentially trying to control the price of a product. If you let the market determine its value (like Bitcoin does) it will always go off the peg.
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5 sats \ 1 reply \ @takaponka 17 Nov 2022
Dollar on Chain on RSK merge mined sidechain.
https://moneyonchain.com/doc-bitcoin-backed-stablecoin/
It's backed by bitcoin. It comes with risks, like RSK peg and flash crash price of BTC. But I'm fine with it for very few % of stack.
Stablecoins will never be "fully decentralized" but there is huge demand in South America, even Africa. People trying to find a reliable one and they can't. There is real demand for mother stable currency, that you like it or not.
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5 sats \ 0 replies \ @Majjin 17 Nov 2022
I think that there's real demand and utility for stablecoins too. I don't buy that just because something is centralized or requires trust automatically makes it bad. Both centralization and decentralization have their risks and trade-offs.
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