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0 pointsquickthrower24y ago0 comments

what makes stablecoins not a real cryptocurrency? They are a currency stored on the blockchain

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5 comments · 2 top-level

_Algernon_4y ago· 3 in thread

They're not trustless which makes them closer to a privately run fiat currency than a crypto currency.

What is "not trustless" about algorithmic stable coins?

It needs an oracle at least to announce the value or the collateral in USD.

trustless is a myth. if there is no trust, there is no value.

They are not sharing a "no trusted third-party" part of Nakamoto's Consensus.

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