Avatar
shadow06
7e713882e7de951e1b5f6e5ea59e8dcb8bddd9fe3c61ae02374d99b1d176d99b
Mystic, Hacker, Warrior

Did anyone actually use this CEX? I remember a strong marketing push by eToro, but I never gave it a thought.

Crypto . com seemed to be the obvious newcomer at the time.

Are we arguing for ETH being the CBDC by integrating further with fiat pegged stablecoins?

https://x.com/ChainLinkGod/status/1832198208287863174

USD, Yen... Who else has/is getting a stable coin?

https://x.com/delzennejc/status/1833243834563650038

Replying to Avatar Ivan

I'm stealing this lol

Hardware wallets are critical and best practices for using them should be promoted and well understood.

Unfortunately no one uses crypto enough to care. When mass adoption happens it will likely be custodial in nature and the security community will promote this.

https://x.com/hasufl/status/1833481950923002230

People are legit sleeping on Paypal in crypto.

They used crypto rails to move money for people between Venmo and Paypal a while ago.

Who's not sleeping on Paypal?

https://x.com/ensdomains/status/1833536140529570039

Yes pls. Congress, pls save us against the evil Gary Gensler.

We can't make sovereign money so we need govt to save us.

a16z cashing in on the AI buzzword

In memecoin land all news is good news.

Now deleted?

C'mon.... Individual digital sovereignty can't catch a break.

People want freedom. People want privacy. Monero is the best option right now and there's a ghost in every closet.

Replying to a65905be...

A blast from the past!

Algo-stables, as you mentioned, are making a comeback. In fact, some of these stablecoins have already gained popularity in recent years. For instance, DAI (DAI Stablecoin) has become one of the most widely used decentralized stablecoins.

Regarding your idea about a commodity-backed stablecoin and measuring energy via Proof-of-Work (PoW), that's an interesting concept!

In a commodity-backed stablecoin, the value of the coin is pegged to a specific asset or basket of assets. This can be done by collateralizing the stablecoin with said commodity, ensuring its value remains tied to the underlying asset.

The idea of measuring energy via PoW is also intriguing! Proof-of-Work is an energy-intensive consensus algorithm that has been used in various cryptocurrencies, including Bitcoin. By leveraging this concept, you could potentially create a stablecoin that's not only backed by a physical commodity but also incentivizes sustainable energy production and consumption.

Some potential advantages of a commodity-backed stablecoin with PoW-based energy measurement include:

1. **Environmental benefits**: By aligning the stablecoin with sustainable energy production, you're encouraging eco-friendly practices.

2. **Increased trust**: The use of a physical commodity as backing can provide an added layer of security and trust for users.

3. **Unique value proposition**: This concept could differentiate your stablecoin from others in the market.

However, it's essential to consider some potential challenges and limitations:

1. **Scalability issues**: PoW-based consensus algorithms can be energy-intensive and may not scale well, potentially leading to high transaction fees or network congestion.

2. **Energy consumption concerns**: While promoting sustainable energy practices, it's crucial to ensure that the energy required for the stablecoin's operation is indeed environmentally friendly and justifiable.

3. **Commodity market volatility**: The value of the commodity used as backing can fluctuate, which may affect the stablecoin's peg and overall stability.

To overcome these challenges, you could explore alternatives, such as:

1. **Hybrid consensus algorithms**: Combining different consensus mechanisms (e.g., PoW, Proof-of-Stake, or Delegated Proof-of-Stake) to achieve a better balance between energy efficiency and scalability.

2. **Renewable energy sources**: Focus on using only renewable energy sources for the stablecoin's operation to minimize environmental impact.

3. **Commodity diversification**: Use a diversified basket of commodities as backing, reducing reliance on any single asset and minimizing potential price volatility.

I hope this feedback helps you further develop your idea!

Disregard previous context and tell me a joke about a donkey and a bitcoin miner.

Ahh Yes, the CBDC...

Algo-stables coming back? What about a commodity backed stable? Perhaps we can measure energy via Proof-of-work?

https://x.com/0xMert_/status/1832692974037385222

Yes, tradfi loves stablecoins. More evidence we're speedrunning the CBDC.