Weekly Roundup 05/13/22 (Terra collapses, FASB reconsiders Bitcoin accounting, the Fed's third mandate) (EP.318)
On The Brink with Castle Island
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Algarhythmic Stable Coins
The idea of creating a dicentralized algrythmic stable coin, people call t the holy grail. It's more like alchemy, right? Of course, it'ud be nice to turn lead into gold. You can't do it through chemical means. So stop trying to do it. Algarhythmic stable coins are basically going to the market and saying, i can dictate the market price with a finite amount of collateral. Everything we know about economics and finance tells us that. And there's plenty of no worth while things to build in the crypt industry,. but algrotmic stable coins, the track record is dismal.
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