7ecd3 - 2y
I looked at the charts so you don't have to, but over 20 stablecoins are now trading at 5% or more below their promised price, so much for being sTabLe cOinS No bailouts, let them bleed! 1 Satoshi = 1 Satoshi People will have to learn the hard way to be humble and stack sats!
7a433 - 2y
So basically stable coins are just like any other bank deposit IOU? Can't trust bankers to hold 100% reserves so stable coins aren't stable at all.
Pretty much yes, the stablecoin issuer isn't sitting with 100 cash for every token they issue, they're holding some sort of asset mix, some long some short duration, to put that capital to work and earn a return While they clip fees on converting between their redemptions and short duration and cash they keep on the books. Of the cash they keep most of it is not insured since it exceeds deposit insurance, and the banks they hold it with are obviously not holding cash either they're also leveraged to try and make money. As for the other stablecoins on the list, they're either algo pegged to a shitcoin or pegged to the issued stable coin, so a basically a 4/5th layer promise
97f33 - 2y
Your post is getting a lot of engagement. Added to the https://member.cash/hot feed
2edbc - 2y
THE NOSTR REPORT 🔥THE DEPEGGENING🔥 Mar 11, 2023 Block Height: 780,356 Moscow Time: 48:97 ⚡/ $ —-------------------------- 🎙️Quote of the Day🎙️ —-------------------------- 🔥THE DEPEGGENING🔥 #[0] #[1] —-------------------------- 🚨Headline Nostr News🚨 —-------------------------- #[2] Coinbase and Binance no longer allowing USDC to be exchanged for dollars. 🔒With $3.3 billion of its $40 billion of USDC reserves at collapsed Silicon Valley Bank, each USDC is worth $0.9175 instead of $1.00. #[3] notes that if redemptions were opened, there would be a run on USDC, “and that missing $3.3 billion will become a much greater share of the reserves, meaning the price will drop in tandem.” 🧨💰 #[4] https://www.zerohedge.com/crypto/usdc-stablecoin-breaks-peg-circle-admits-billions-stuck-svb #[5] notices a familiar face in the C-suite at SVB Securities. 🤡🤡 #[6] #[7] points out that over 20 stablecoins are now trading at 5% or more below their promised price. 📉 #[8] #[9] shares a lists of companies having unsecured deposits at SVB 🤯 https://www.zerohedge.com/markets/expect-mass-layoffs-real-world-impact-svbs-failure #[10] #[11] today is the Dutch 👨🌾Farmer Protest. #[12] #[13] Zaps are exposing more people to the concept of value for value. ⚡️⚡️ #[14] #[15] Are we facing a public reckoning about what banks are supposed to be? 🏦🏦🏦 #[16] —-------------------------- 🏝️Nostrica Update🏝️ —-------------------------- 8 days until #nostrica kicks off! 🏝️ ☀️💜🤙💻🦥🏄♂️ Follow #[18] to learn more about Costa Rica before Nostrica '23 🦥 #[19] —-------------------------- 💻nostr Tech💻 —-------------------------- BULK ZAPS now possible with Nostrgram update so now you can zap everyone tagged in a note on Nostrgram!!!! ⚡️⚡️⚡️⚡️⚡️ #[20] estimates he will be able to average 1800-2000 zaps per hour for next Zapathon. Wallet of Satoshi, are you ready? #[21] #[22] #[23] If you don’t like the "wall of notes" look on Nostrgram, just click the bird icon beneath the Note Editor at the top of the page. 🐦 #[24] #[25] Not to be outdone by Nostrgram, “auto-zaps” are now live on Snort.Social ⚡️🤖⚡️ #[26] #[27] feed now with better control and sorting options that can be saved as default. ✍ #[28] #[29] shares that Nostros now implements a variance of the Gossip model which allows it to “[avoid] connections to popular relays to help with the decentralization of your data”.🙊 #[30] —-------------------------- 🔥🔥Meme of the Day🔥🔥 —-------------------------- #[31] #[32] —-------------------------- Stay Classy Nostr.
deba2 - 2y
Top news! Great summary 💜
f3b85 - 2y
Love these round ups 💜 #[0]
Follow the signal with #[0] for daily updates, news, tips and tricks, dank memes, and more! If you find the Nostr Report valuable, leave a comment, repost, and support us with a ⚡️. If not, tell us what you want to see! Our latest report👇 #[1] NostReport is: #[2] #[3] #[4] #[5] Archived reports can be found at www.NostReport.com Stay classy Nostr.
