The original point of cryptocurrency was to create a free market currency that w... | Hacker News

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		lupire on May 23, 2022 \| parent \| context \| favorite \| on: Keep the web free, say no to Web3 (2021) The original point of cryptocurrency was to create a free market currency that wasn't controlled by any government. Stablecoins are either backed by unstable coins or centralized. Without "nonstable coins", stable coins are just...gift cards, which we already have.

endisneigh on May 23, 2022 [–]

it's possible to have a "stablecoin" in the sense it's non-deflationary and is algorithmically trying to maintain the same price.

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