4
submitted 6 months ago by BD89@lemmy.sdf.org to c/monero@monero.town

Does anyone know an unfreezable stablecoin that is the least at risk of becomming another TerraLuna? I love Monero but its too volatile to keep 100% of my life savings in an unfreezable stablecoin is CRUCIAL. This is such horrible news. Fuck Rune Christiansen for this shit!!

you are viewing a single comment's thread
view the rest of the comments
[-] Rikj000@discuss.tchncs.de 2 points 6 months ago

Don't meddle with "stable-coins".
They are pointless since they:

  • Do not replace fiat
  • Are not stable since inflation on fiat
  • Are more risky then fiat

If you want a "stable-coin",
just use fiat..

Only crypto you should still care about these days is Monero.

[-] WishfulAlbatross@monero.town 2 points 6 months ago

DAI is unfreezeable and pseudonymous, digital fiat is not. It's a useful bridge.

[-] BD89@lemmy.sdf.org 1 points 6 months ago* (last edited 6 months ago)

Great idea! Any idea on how I would avoid getting brutally raped by the taxman by doing that? See, with DAI I could just convert it over and boom. That was it. My rent and car payment are locked in now for how ever many months worth I need it to be stabilized for. But with what you're suggesting why would I even use crypto at all just screw all the privacy and tax freeness of it all and convert it straight to cash with a CEX every time you want to stable up! That's terrible advice. I agree that Monero is so important but you're out of touch and mistaken if you think it can survive on its own. Haveno and Serai will be the only options left to get it soon other than mining or face to face p2p trading which isn't feasible for everyone. If we don't do something now that can introduce and immutable form of stability then we may end up losing the fight eventually.

this post was submitted on 19 May 2024
4 points (64.3% liked)

Monero

1690 readers
7 users here now

This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

GitHub

StackExchange

Twitter

Wallets

Desktop (CLI, GUI)

Desktop (Feather)

Mac & Linux (Cake Wallet)

Web (MyMonero)

Android (Monerujo)

Android (MyMonero)

Android (Cake Wallet) / (Monero.com)

Android (Stack Wallet)

iOS (MyMonero)

iOS (Cake Wallet) / (Monero.com)

iOS (Stack Wallet)

iOS (Edge Wallet)

Instance tags for discoverability:

Monero, XMR, crypto, cryptocurrency

founded 1 year ago
MODERATORS