Post
Topic
Board Project Development
Re: looking for eur stable currency developer idea
by
LoyceV
on 19/11/2020, 18:53:16 UTC
A stable coin is stable because it's backed by fiat currency. Unlike shittokens, you can't just create it out of thin air and give it a stable value.

Tether currently has a market cap above 18 billion dollars. That should mean the creator holds more than 18 billion dollars in a bank somewhere. According to Wikipedia, a year and a half ago each coin was backed by $0.74. If that ratio is still the same, there's almost 5 billion dollars of "air" in it now. I can't believe people still use that!
So who knows, if you can hype your euroshitcoin, you might actually get away with it too!