Ninjastic
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Re: [Blacklist] of unreliable, 'taint proclaiming' Bitcoin services / exchanges
by
n0nce
on 28/06/2022, 13:58:27 UTC
Quote from: BlackHatCoiner on Today at 07:54:02 AM
Quote from: n0nce on June 27, 2022, 05:24:14 PM
but then you also like crypto that is 'stable' which means 'pegged to fiat'?
Not only they aren't "pegged to fiat", but this automatic consideration that fiat is stable is a nonsense. Have we seen what's going onto this world since 2020 the beginning of fiat currencies? There's no fiat currency that has retained its value. Even "strong" economies like the US, UK, EU, they're all experiencing massive devaluation of their currencies everyday.
Fiat currencies are just as 'stable' as Bitcoin, if we determine the stability of a currency on its value denominated in itself.

If people consider something 'stable' that keeps a value of $1, they must deem the US dollar stable; just because it holds its own value.
It's funny, because by the same logic, I could argue that 'Bitcoin is a stablecoin, since BTC1 = BTC1'.

Or I could maybe create a 'BTCT' token that is 'pegged to BTC', so it's a stablecoin, because it is always worth the same amount as another currency (in this case BTC), even though that one fluctuates in value.. Huh