[HN Gopher] Crypto's Last Man Standing
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       Crypto's Last Man Standing
        
       Author : stevenjgarner
       Score  : 18 points
       Date   : 2022-07-05 22:20 UTC (39 minutes ago)
        
 (HTM) web link (www.economist.com)
 (TXT) w3m dump (www.economist.com)
        
       | woah wrote:
       | It's funny to see the Economist try to view crypto through a
       | traditional finance lens. The companies rescued by SBF are
       | idiotic, promising to provide stable returns using extremely
       | risky investment strategies. They are the bottom feeders of
       | crypto, as well as being one of the most boring things about it.
       | The Economist seems to want to make crypto reporting part of
       | their purview- why don't they look at some of the interesting
       | developments such as AMMs, algorithmic stablecoins, DAOs, etc?
        
         | pru567 wrote:
         | Aren't algo-stablecoins a refuted concept after IronFinance and
         | Terra/Luna?
        
           | bhouston wrote:
           | Refuted means you can conclusive prove something. You can
           | only say these attempts at algorithmic stablecoins failed but
           | it doesn't mean they are destined to always fail. The devil
           | is in the details and honestly Terra was run incompetently
           | and for greed rather than as a true professional endeavor.
        
           | clpm4j wrote:
           | There are still some notable people in crypto who want to see
           | the concept succeed. I imagine we'll see at least a few more
           | try (and probably blow up) before they get regulated out of
           | existence.
        
             | lumost wrote:
             | The concept is pretty interesting if there were real assets
             | behind the coin. Problem is you would need a good
             | counterparty... which means you need a good custodian...
             | which means you might as well just use the counterparty and
             | custodian.
             | 
             | The only real benefit of the coin in this case would be
             | programming derivatives without further intermediate
             | custodians and counter parties. This could be useful for
             | some back office finance activities outside of scams.
        
       | stevenjgarner wrote:
       | Archived : https://archive.ph/Q3S7D
        
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       (page generated 2022-07-05 23:00 UTC)