I just found this tweet by Cory Klippsten about Decentralized Stablecoin is an oxymoron.
HBD graphics by @doze
I am not familiar with the word Oxymoron, so I need to search it first before engaging in conversation
What is Oxymoron?
The simplest meaning I have found is
A figure of speech in which apparently contradictory terms appear in conjunction.
Image Source
The tweet by Cory said
"Decentralized Stablecoin" is an oxymoron.
Do Kwon and all Luna / Terra / UST promoterz are lying to you.
It's just another sh*tcoin ponzi with some orange-washing Bitcoin affinity scamming sprinkled on top.
For this, I responded under this tweet by saying
decentralized #StableCoin does exist which is not backed by any entities/companies. It is #Hive's Algorithmic driven stablecoins called #HBD
then I added the good blog made by @taskmaster4450 if he prefers a broader view about HBD.
@taskmaster4450 is making so many good articles that we can use to make our life easier in terms of explaining things in the world of Web 2.
Hopefully, Twitter doesn't shadowbanned my reply because of the Hive link which I doubt
In addition, I did Quote Retweet it for visibility purposes
~~~ embed:1523051243026976768 twitter metadata:aGlyb19oaXZlfHxodHRwczovL3R3aXR0ZXIuY29tL2hpcm9faGl2ZS9zdGF0dXMvMTUyMzA1MTI0MzAyNjk3Njc2OHw= ~~~
I want to encourage you to do the same especially since it only cost us 5 minute of our time to promote Hive on Twitter, I am hoping that many of us that can join this movement
If you are not aware of how we are doing here, kindly check our post
We love you guys
Everything in the economic world is in flux. The prices of all financial assets change in relation to each other.
Business and political leaders dream of having a "stable" currencies for their ledgers. The problem is that prices change every year.
For centuries people tried using combinations of silver and gold for the stable coin. This led to an unending string of economic crisis since the price of the commodities would change as the supplies of gold and silver fluctuated. Efforts to peg currencies to gold and silver kept failing as well.
The current thinking is to create an international system with currencies pegged to each other. This desire for stable coins on the international level has led to numerous recessions and even a few wars.
I side with the person who says that "decentralized stablecoins is an oxymoron." One of the driving forces behind crypto is the realization that all assets are in flux. The thought behind cyrpto is that the world needs currencies which the world can trust. The best way to do this is to just accept that the prices of economic assets are in constant flux.
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Great point, thanks for sharing
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Thank you
It's my pleasure.
Nice, doing that now.
I appreciate your time bro
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good
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Cool