"Stablecoins" are neither "stable" or "coins". Blockchain is a Semantic Wastelan... | Hacker News

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esotericn on Oct 23, 2018 | parent | context | favorite | on: Coinbase is launching support for the USDC stablec...

"Stablecoins" are neither "stable" or "coins".

Blockchain is a Semantic Wasteland: https://news.ycombinator.com/item?id=18267585

There are a few cryptocurrencies that are actually interesting. This is yet another nonsense money grab.

DSingularity on Oct 23, 2018 [–]

In this instance I disagree. This is a smart contract which will create USDC for each USD that Coinbase reserves. In other words, each USDC has a single USD backing it. To back the guarantee they are slowing audits of their reserves. This one is pretty straightforward.

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