RE: Did the USA just make algorithmic stable coins illegal?
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Thank you for the information.
@blocktrades is a very knowledgable developer on Hive now and previously on Steem. He also runs a witness.
I appreciate any information he has to share, and I believe it is 100% correct.
HBD is thinly traded and because it is, he is absolutely correct it doesn't fulfill the same role as USDT, mainly a place to park your profits from speculation on altcoins or bitcoin.
HBD has an important role here on Hive and a profitable one.
I agree with what he says about the Bots. Did he offer any information about where those bits originate, and does he participate?
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No, he didnt.
I never looked into stablecoins, although, i have some staked, so just try to find out generally the risks about the crypto backed, algorithmic ones, and how these can effect negatively the chain where they are. HBD-Hive, too.
Now this law thing is another interesting topic, maybe not right now, but definetly within 1-2 years.
When the 'news' sites write, it is banned, probably doesnt mean they are really banned.
I can't find any info about what applies for businesses and private individuals in case they still want to use it, so I just suppose, it won't really applies for them.
Probably shouldnt even start, because I am just more confused than i was before.
thanks