What is the purpose of “stable” coins? If you want a thing that is worth a dollar, why not just use dollars? Or use Belize dollars. They’re worth $0.50 by law and have no instability issues.
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USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained
51–60 of 147 posts
Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained
#52Remember folks stablecoins have exactly 2 stable states, 1 and 0.
And depending on how it flips from one state to another, it might be an astable coin
Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained
#53Remember folks stablecoins have exactly 2 stable states, 1 and 0.
Only 0. The "1" state is apparently stable when there's permanent excitation of the underlying cryptomatter (otherwise known outside of cryptophysics as "pumping"), but that always comes to pass, as the pumping molecules are finite.
Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained
#54Earlier quoted context omitted.
I claim even driving a car is unethical. Russia earns more money from energy imports now than before the war. Price is a function of supply and demand. Supply is difficult to change and certainly not in an ethical way. So everone maintaining demand supports the war, whether they want or not. An action does not get ethical because others are worse. It's good for your conscience noting others are worse, I don't deny th…
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I don't think op is taking about CO2 emissions, rather that Russia exports a lot of fuel. But even if op is taking about CO2, diving a car and breathing aren't that comparable. Exhaling CO2 is part of the active CO2 cycle and doesn't really contribute to climate change. Digging up locked carbon from the ground and burning it does.
Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained
#55Earlier quoted context omitted.
I claim even driving a car is unethical. Russia earns more money from energy imports now than before the war. Price is a function of supply and demand. Supply is difficult to change and certainly not in an ethical way. So everone maintaining demand supports the war, whether they want or not. An action does not get ethical because others are worse. It's good for your conscience noting others are worse, I don't deny th…
Quoted post unavailable.
No, I was not talking about CO2 now. I was talking about the global energy market. Most of Europe decided that buying energy from Russia needs to be phased out to give them less money to finance their attack war. I think that's a good plan. Unfortunately with acceptable supplies shrinking prices went up. So now Russia has more income to finance the war. I know it's not a very popular opinion, but for me drastically shrinking demand is the measure that helps.
That this would help the CO2 issue is only a nice side effect.
Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained
#56Stablecoins are just regular crypto except somebody else promises they'll go broke before you do.
> somebody else promises they'll go broke before you do.
Pro-tip: they won't
And even worse: you won't "notice" its actual value is falling until it's too late
Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained
#57Earlier quoted context omitted.
Sanctioning a government fighting a war is very different from sanctioning people who want to engage in the economy without violence. I would argue the more the economic exchange to violence ratio is between two groups, the better it is for both groups (maybe not the leaders)
Except the government fighting a war is getting taxes from those people that just want to engage in the economy to fund its war effort. Sanctions are not perfect but they're a better tool than a shooting war.
The more corrupt a government is, the less people are likely to justify paying taxes to them.
Many Russians that get cryptocurrencies from other countries used it to buy plane tickets to fly away (or other means to get out of the country), and they are definately not want to pay taxes, but are contributing the brain drain that is likely happening right now.
Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained
#58Earlier quoted context omitted.
Sanctioning a government fighting a war is very different from sanctioning people who want to engage in the economy without violence. I would argue the more the economic exchange to violence ratio is between two groups, the better it is for both groups (maybe not the leaders)
So you close Putin's and a couple of other credit cards and let everyone else continue a normal life? Maybe fairer to some individuals (like those already acting in opposition), but certainly a completely ineffective sanction.
This is the first time in the history of humanity that the country leaders can be bypassed and money could be sent peer-to-peer between geographies. There is just no precedent to this (you can't send gold / USD bills on the borders, and when there are banks involved, the leaders could always stop it).
Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained
#59Tron was the most obvious shitcoin in 2017 already.
Justin Sun announcing announcements was a common meme back then.
John McAfee was promoting it.
It is astounding that some people still take this obvious joke serious.
Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained
#60Earlier quoted context omitted.
Except the government fighting a war is getting taxes from those people that just want to engage in the economy to fund its war effort. Sanctions are not perfect but they're a better tool than a shooting war.
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While your comment style is a bit aggressive you have a point: Bush and Blair would belong into an international court for starting an attack war, just like Putin.
My personal "sanctions" to the US are that I don't travel there anymore. I visited the country around 2 dozens times and I mostly liked it. But after 9/11 only twice and now not for nearly 12 years. 2 Bushs, homeland security, Manning/Assange/Snowden, and Trump gave me enough. Obama and Biden were too small sparks of hope in the 49% misery.