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0 sats \ 0 replies \ @notgeld 6 Oct 2023
So basically, it should be illiquid. This is a very old post about the topic.
https://medium.com/@bob.mcelrath/on-the-in-stability-of-stablecoins-517b7d17c3ee
Onchain/LN liabilities + Perpetual Futures are probably more robust than that.
https://notgeld.medium.com/when-sats-become-the-standart-83585494f3af
This is what we have done in Valet initially. Currently, we are hedging our liabilities on the spot market. Unfortunately, perps are very KYC-ed, or otherwise, exchanges aren't liquid enough.
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0 sats \ 1 reply \ @lpop4254 6 Oct 2023
š¤£š¤£another Luna shitcoin
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0 sats \ 0 replies \ @Rsync25 OP 6 Oct 2023
Haha
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0 sats \ 4 replies \ @DarthCoin 6 Oct 2023
The whole idea of a stablecoin is moronic.
Bitcoin itself is the stablecoin.
People pushing for use of stablecoins simply do not understand how free market works and they still want to live into a fiat world.
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0 sats \ 2 replies \ @notgeld 6 Oct 2023
It is not moronic. It needs to be re-phrased into "stable purchasing power contracts."
But Bitcoin needs diverse commodity markets to dominate globally.
There is only little chance that El Salvador could handle it.
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0 sats \ 1 reply \ @DarthCoin 6 Oct 2023
your stablecoining defense is disturbing
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0 sats \ 0 replies \ @notgeld 6 Oct 2023
Your lack of realization of how far we are from Bitcoin commodity markets is disappointing. Basically, Bitcoin is still on shitcoin casino/financial speculative asset stage with only a slight chance to play some auxiliary role in energy markets.
We are pro-Bitcoin but we are not the same.
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0 sats \ 0 replies \ @Rsync25 OP 6 Oct 2023
True
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