> You trust your stablecoin's issuer that they hold enough fiat in reserve to match the coin? You might as well trust your bank

stablecoin issuers are for all intents and purposes banks.

they'll try very hard to stop anyone from calling them that, but in essence, they give you a note (a crypto coin, in this case) in exchange for a promise that they'll give you back the amount of fiat printed on the note. this is the primary purpose of a bank.

▲

habinero 5 days ago | parent | next [-]

No, a bank is regulated and insured and we have a lot of experience handling banks that go insolvent or otherwise fail.

Stablecoins are three raccoons in a trenchcoat who pinky promise you can trust them.

	▲	baq 5 days ago \| parent [-]
		this is exactly what I meant when I said > they'll try very hard to stop anyone from calling them that because they are banks at the core of what they do, but don't want to be regulated like banks.

▲

ta12653421 5 days ago | parent | prev [-]

no, second-layer-bank :-D