Post
Topic
Board Altcoin Discussion
Re: Are stablecoins safe?
by
o48o
on 26/11/2022, 11:45:40 UTC
What do you guys think about this? Would you recommend the use of stablecoins or they just aren't worth the risk?
Stablecoins are one of the reasons we has as much liquidity and high prices as we do. I don't think that most people are against regulating/auditing them so that endless fud on them would end. And if trust on stable coins would increase, so would the market price of most coins.

Current situation is that anyone can just create algorithmic stablecoin and have no rules that requires them to provide any proof of reserves. Which is absurd when you think about it.

This will now change and obviously there will be some cryptopunks against it, as not only governments want to audit the reserves. They will most likely end up regulating more anyone asked for. But it's not like we have an option to stop them to do that.