Re: The main harm of existing Stablecoins is not controlled emission
My issue with Stablecoins are the validity of the statement that $1 = 1 Stablecoin 
It is almost impossible to trace the dollars that are supposedly backing the value of the tokens.
If that was the case, then I think Stablecoins are actually helping inflation ...because more toilet paper money needs to be printed to back the Stablecoins in circulation.
It is almost impossible to trace the dollars that are supposedly backing the value of the tokens. If that was the case, then I think Stablecoins are actually helping inflation ...because more toilet paper money needs to be printed to back the Stablecoins in circulation.
Yes there is no way we can say with certainty that all coins in circulation of stable coins are backed by usd. We have recent example of UST crash (a stable coin) and its founder has done that before with Basis Cash (BAC), a stable coin that crashes in late 2020. Check this link for more details https://www.google.com/amp/s/www.businesstoday.in/amp/crypto/story/terra-luna-crashes-97-was-do-kwon-responsible-for-another-failed-stablecoin-333265-2022-05-12