Stable coins, for the individual who famously bankrupted Atlantic City, are essentially casino chips, that one can purchase from the cashier at a fixed rate and in theory redeem them back at the same rate, no matter how much time and exchange fluctuations have occurred in the interim—in order to essentially gamble in crypto market, like one’s chips retaining their value, within the venue at any case. The holder of the stable coin is left holding the bag, however, since it is a trading market and it is not always possible to find a buyer to convert back into dollars at the same exchange rate of one-to-one. In order to sustain value during shocks to the global currencies, the dollars, euro, yen or renmibi are invested—usually in something safe like government bonds—with the stable coin backers reaping any additional profit and shielding themselves from losses, the theoretical store of wealth not generating any added value for the purchaser themselves, unlike earned interest or appreciating equity. Though barriers to entry are low as with any digital product, saturation means that its a high bar to build any significant network, with the Trumps adding this instrument to their basket of IOUs.
Tuesday, 29 April 2025
very stable genius (12. 423)
No stranger to e-moluments and general rentiership, the Trump Syndicate is making further furrows into dodgy cryptocurrencies not only with his own memecoin, of which a thick wallet of can buy a seat at the table but now working with congress and the Federal Trade Commission to legitimise the stable coin market, having raised millions of actual fiat cash from tokens as campaign donations as well as through the family’s own spurious ventures. Stable coins, for the individual who famously bankrupted Atlantic City, are essentially casino chips, that one can purchase from the cashier at a fixed rate and in theory redeem them back at the same rate, no matter how much time and exchange fluctuations have occurred in the interim—in order to essentially gamble in crypto market, like one’s chips retaining their value, within the venue at any case. The holder of the stable coin is left holding the bag, however, since it is a trading market and it is not always possible to find a buyer to convert back into dollars at the same exchange rate of one-to-one. In order to sustain value during shocks to the global currencies, the dollars, euro, yen or renmibi are invested—usually in something safe like government bonds—with the stable coin backers reaping any additional profit and shielding themselves from losses, the theoretical store of wealth not generating any added value for the purchaser themselves, unlike earned interest or appreciating equity. Though barriers to entry are low as with any digital product, saturation means that its a high bar to build any significant network, with the Trumps adding this instrument to their basket of IOUs.
Stable coins, for the individual who famously bankrupted Atlantic City, are essentially casino chips, that one can purchase from the cashier at a fixed rate and in theory redeem them back at the same rate, no matter how much time and exchange fluctuations have occurred in the interim—in order to essentially gamble in crypto market, like one’s chips retaining their value, within the venue at any case. The holder of the stable coin is left holding the bag, however, since it is a trading market and it is not always possible to find a buyer to convert back into dollars at the same exchange rate of one-to-one. In order to sustain value during shocks to the global currencies, the dollars, euro, yen or renmibi are invested—usually in something safe like government bonds—with the stable coin backers reaping any additional profit and shielding themselves from losses, the theoretical store of wealth not generating any added value for the purchaser themselves, unlike earned interest or appreciating equity. Though barriers to entry are low as with any digital product, saturation means that its a high bar to build any significant network, with the Trumps adding this instrument to their basket of IOUs.