Stable coins… Aka gold? I heard gold is pretty stable.
Yes sir, I’d like to buy this game with this bar of gold. At Steam’s headquarters.
What about the so called ‘stablecoins’?
(Although those sound dodgy AF to me?, not backed 1-1 anymore?)
LunaChocken@programming.dev 1 day ago
Nighed@feddit.uk 1 day ago
Cryptocurrency that is pegged 1-1 against a normal currency. I think they have some limitations though.
LunaChocken@programming.dev 19 hours ago
It was a joke. Mocking stable coins for how they never compare to golds stability.
misteloct@lemmy.dbzer0.com 1 day ago
Stablecoins are the answer here. Theoretically though if cryptocurrencies were very widely used they’d be more stable, like actual currencies (probably $100T market cap of actual use, not just investments, so not any time soon).
Note stablecoins have “institutional/existential” risk. Dai is decentralized but as seen with Terra/Luna they can be attacked in many ways.
Generally… Just keep a small balance in crypto, whatever you plan to spend in the next few months.
Revan343@lemmy.ca 21 hours ago
Afaik no current stablecoin is proven via audit to be 1-1 backed, not sure if any are still claiming it.
Algorithmic stablecoins on the other hand are only stableish; see the terra/luna fiasco