Oddbean new post about login | logout They're only as stable as the pegged currency. Like USD which could do better in terms of stability -- past, present and future -- as we all know. Show me one that's more stable and I'll drop my dollars instantly.
I think they’re usually pegged to USD as a common reference point that people understand. But it can theoretically be pegged to anything if it’s done algorithmically. I’m just saying, we have these things and that is not the issue. I think the technology still remains the limiting factor. The UX is worse than fiat in the worst ways.
Can I see the "algorithmic" one please. I'm interested in the algorithm.
Most of them have depegged I think. Flawed algorithms 😂 https://cointelegraph.com/learn/algorithmic-vs-collateralized-stablecoins