9
submitted 2 years ago by metaltoilet@beehaw.org to c/chat@beehaw.org

I'm going to keep this short but I just fell down the rabbithole of crypto again and maybe it isn't as bad as I thought. Many of their ideas are very similar to the fediverse's. The idea of decentralized finance using a stablecoin sounds awesome to me. (though i'd much prefer to live in a world where money isn't needed) Maybe the technology is actually good but the techbros and scammers ruin it with their false promises and complicated words. Hopefully, in a few years after the rest of those scammers have moved on to scamming with AI this tech could be truly used for meaningful purposes.

you are viewing a single comment's thread
view the rest of the comments
[-] LambdaDuck 1 points 2 years ago

stablecoins aren’t really decentralized in any meaningful sense. a traditional stablecoin requires complete trust in the centralized organization that claims to hold the money and can print any amount of coins they want, while an algorithmic stablecoin is even worse since they by design are doomed to doomspiral as every major algorithmic stablecoin in existence has done so far

this post was submitted on 30 Jun 2023
9 points (100.0% liked)

Chat

7511 readers
4 users here now

Relaxed section for discussion and debate that doesn't fit anywhere else. Whether it's advice, how your week is going, a link that's at the back of your mind, or something like that, it can likely go here.


Subcommunities on Beehaw:


This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago
MODERATORS