alt Hacker NewsAt the end of the day, for better or worse, the US dollar is backed by the US military. Virtual coins are backed by the greater fool.
What a strange toss-up.
Replies
anukin • today at 4:03 AM
Usdc is backed by US dollar denominated treasuries for most major issuers.
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Onavo • today at 3:47 AM
But the stable coins are also backed by the US military. All major USD stablecoins have sanctions mechanisms baked into their smart contract.
See for yourself the blacklist features
https://github.com/circlefin/stablecoin-evm/tree/master/scri...
> US dollar is backed by the US military.
No, it's not. It's not possible to come to the US soldiers with a bunch of US dollars and some demands and get what's demanded in return for the dollars.
Only trust of the other market participants backs the US dollar.