Quote:
Originally Posted by Fuzz
As you mentioned, the value of currency is its stability and that people trust it. One solution may be to peg a coin's value to something like the USD to prevent wild swings
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Crypto's are popular because they exist outside of central control. People don't trust fiat and so pegging a crypto to a commodity or bank might lose its attraction. Venezuela just issued a petro coin so I suppose we will see how that does. One coin is one barrel of oil in the Orinoco basin. Good luck ever collecting your barrel but none the less, it's there.
Russia is also developing a cryptoruble to settle accounts internationally while avoiding US sanctions.
There's also a royalmint gold crypto coin backed by UK gold. Its been around a while but not super popular as you might as well just own gold or gold stocks.
I should have been keeping track but there are still lots of blockchain stocks that get my attention. MARA was a decent day trade yesterday and by other accounts is one to watch. It's new to the Mining game I think. I never really look at the news associated with a stock but once and a while I check and often the big movers are still blockchain related.
My friend keeps asking me, "What is a bitcoin?" I still can't answer.