Stablecoins

[Anonymous No.49249172]

Are they safe?

[Anonymous No.49249221]

Is the University of Niggers an accredited institution?

[Anonymous No.49249297]

>>49249172
This is so retarded I can't even be bothered with it
your a retard

[Anonymous No.49249385]

>>49249297
Cope

[Anonymous No.49249463]

>>49249385
your more retarded than a black gorilla

[Anonymous No.49249853]

>>49249172
Ok, let me know when crypto becomes 50% of the worlds currency.

[Anonymous No.49250393]

>>49249172
Imagine a token which was supposed to be pegged to the price of a cup of coffee and actually wasn't.
That would suck.

[Anonymous No.49250439]

you cant program a token to be worth $1.
if it were possible, id make 10 million chains and be rich

[Anonymous No.49250501]

>>49250439
You can have lots of actual $1 and then open a digital bank operated with a programmed fractional banking system.

[Anonymous No.49250580]

>>49249172
Retard

[Anonymous No.49250583]

>>49250501
sure if there were a project that used legally backed CEX stablecoins and built a fractional reserve decentralized cross chain stablecoin on top of those assets, id be really interested in that project

[Anonymous No.49250605]

>>49249172
imagine spending the time to turn your bad faith shitpost into a gif
learn to signal retard

[Anonymous No.49250610]

>>49249172
good infogrphic

[Legalize rape No.49250627]

>>49249172
DAI seems to be pretty good stable.

[Anonymous No.49250652]

>>49250627
exactly because it's scarce and can't keep up with demands

[Anonymous No.49250683]

>>49250605
What time did it use up? He just put five images into one and it works. Whether or not it's actually a shitpost is another matter.

[Anonymous No.49250712]

>>49249172
kek imagine thinking crypto marketcap is going to grow that huge, whoever made this is the real retard.

[Anonymous No.49250826]

>>49250683
on second thought it's a good format because people are entrained to ignore walls of text. i guess it's an efficient shitpost

[Anonymous No.49250847]

>>49249853
We're 1% of the way there so far.

[Anonymous No.49250998]

>>49249172
imagine being straight and into pegging

[Anonymous No.49252334]

>>49250712
Bitcoin is going to take over the entire world.

[Anonymous No.49252550]

>>49249853
It doesn't need to get to 50%. Imagine thinking stablecoins could even back 1% of the world wealth. These are shit companies, fren.

[Anonymous No.49252586]

>>49252550
OPs image is implying that if crypto overtakes fiat currency than it can't be backed by fiat anymore because there isn't enough.

[Anonymous No.49252621]

>>49252586
I am OP, nignog. The same applies even if it doesn't overtake fiat. These pegging companies will not be able to acquire enough of the world's fiat to back the pegs even at lower marketshare % of crypto.

[Anonymous No.49252652]

>>49252621
no fucking shit retard at that point things will start getting priced in crypto

[Anonymous No.49252668]

>>49252652
Ya. And stablecoins will fail before that happens.

[Anonymous No.49252692]

>>49252668
they will fail as that starts happening more and more

[Anonymous No.49252778]

>>49249172
Stablecoins don't need to be backed by fiat currency, you fucking black-as-night retarded gorilla nigger. You can back them with literally any asset, including other cryptocurrencies.

[Anonymous No.49252818]

>>49252778
wait till op finds out that fiat currencies are pegged to baskets of goods, commodities, assets representing services, and other currencies.

[Anonymous No.49252853]

>>49252778

[Anonymous No.49252875]

>>49252853
Not an argument you donkey.

[Anonymous No.49252922]

>>49249172
On one condition

[Anonymous No.49252960]

>>49252778
Pegs are pegged at $1 USD. Fiat. Anything else they are backed by is illiquid, and must be converted to USD fiat if people wanted to cash out. For example, the amount of commercial paper owns is fucking retarded. A lot of that is high-risk Chinese shit. If they tried to cash that out to USD, it would crash.

[Anonymous No.49253066]

>>49252960
The entire point is that IF crypto reach the adoption that is intended, goods and services may be priced against whichever crypto comes out on top instead of USD, at which point stablecoins aren't needed anymore, or just stablecoins whose value is pegged to the dominant currency, at which point all that's needed to back them is a sufficient amount of value in assets to maintain the peg.
It doesn't fucking matter whether USD exists or not.

[Anonymous No.49253158]

>>49249172
>another retard who doesn't understand market cap

Real estate, stocks, and bonds already far exceed the money supply. Derivatives exceed it by over 100x.

As far as 1:1 backed stablecoins, you are right, there will never be more USDC than dollars, obviously, but that doesn't mean bitcoin can't have a higher market cap than dollars. As soon as a single sat is sold at over around $1mil btc then bitcoin exceeds the dollar's circulating supply, so you only need 1 penny for a sat to do that.

Algo stables are just essentially derivatives. so can easily exceed the circulating supply. For example the US bond market is about $46 trillion, dollar denominated debt, which is 2x the dollar's circulating supply. This is possible because they are just promises denominated in dollar amounts but could be derives from other assets.

[Anonymous No.49253384]

>>49253066
>>49253158

[Anonymous No.49253447]

>>49252778
You are saying we should back shit with some other shit?
What could go wrong?

[Anonymous No.49253475]

>>49253384
>citing Taleb, a man whose brain is mush

He didn't write any of his books, anon

[Anonymous No.49253483]

>>49253447
How else do you maintain the value of currency? As far as I know there's only two ways:
>assets
>debt
Currently, most world currencies are backed by debt and it's clearly not working out, we're just going through recession after recession.

[Anonymous No.49253523]

>>49253483
Stablecoins and pegs are assets that shouldn't exist, because they can't be maintained. They are created under a fault premise. Trying to think of a way to back them is doomed from the start.

[Anonymous No.49253575]

>>49253523
Again, stablecoins are only a temporary crutch to make it possible to trade for good and services that are valued against fiat currencies. They would not be needed anymore if crypto manages to take over.

[Anonymous No.49253637]

>>49253575
>stablecoins are only a temporary crutch to make it possible to trade for good and services that are valued against fiat currencies
That's a lie. They only exist so people can cash out of crypto without paying taxes. You are a snake for trying to make it seem like people would use them for any other reason.