Readit Newsdeafcalculus commented on 37% of jobs in the United States can be performed entirely at home sciencedirect.com/science... · Posted by u/rustoo
If everything you do goes in and out over a wire, some day your job will be either automated or offshored.
That's what a lot of people thought in the 2000s, but going by SV salaries the automate or offshore story hasn't really played out! Then again, horses seem to have lost their job in the early 20th century after cars came along, and their population just declined thereafter.
deafcalculus commented on Report on Stablecoins [pdf] home.treasury.gov/system/... · Posted by u/TheAlchemist
This is good. The backing of stablecoins is a very real issue. As the Treasury points out, there's a very real possibility of a run. Two stablecoins have crashed so far, SafeDollar SDO, and $TITAN. They went all the way to zero.
Can Tether survive a net outflow? Probably not. They don't have the collateral.
Dai is really a derivative of Etherium. Dai is backed by Etherium at 150%. So value in Dai is at risk if the price of Etherium drops more than 1/3. Etherium dropped by half back in May 2021, but recovered. DAI could have crashed at that time if it faced a net outflow. It didn't, though.
The real question is what happens in the next recession.
You mean what happens when economy does well enough that it starts overheating which forces an exit from the liquidity trap and turns real interest rates positive? I guess we'll find out soon.