A lot of dollars in the bank is VERY unstable.... although it shouldn't be.
Maybe it is because we actually do not have a dollar bank. Where we could just pile dollars into the vault. And instead have a fractional reserve lending system where if you do not put the money into something (bond, stocks...) you are losing money.
The thing i would really like about a bitcoin backed stable coin is that i could verify the btc holdings. I know very specifically where and when they are.
I feel you could make this thing work well, offering a % to park bitcoin...
... but, i really do not want to work on making this work, because i feel that before getting it to work, bitcoin will go to the moon, and the dollar will collapse.... but hey, we might get a few years to a decade out of it.
True such things feel like a waste of time.
We should make our own stable asset that maintains balance from its own merit.
1 satoshi = 1 satoshi still.
Maybe someone could actually make a gold backed crypto.
That might maintain itself... as long as the gold wasn't loaned out and stuff...
I am sure we will see such in the next year.