See the comment I made in your article regarding BlockFi and the Gemini dollar. You can’t buy houses with Gemini dollars in so far as I’m aware so again I’m lost on your analogy.
I have a BlockFi loan and guess what! Over the Thanksgiving holiday I got a margin call, yay. And now the price will surely fall below a threshold which I can’t collateralize (this means my ETH is liquidated at the bottom of the market x_X) before it rises above the price at which I originated the loan with BlockFi. This was the dumbest thing I’ve ever did. I wanted to get the collateralized loan to AVOID selling low and as a result I’ve somehow managed to put myself in a position where I won’t merely be selling low, nah that’d be too smart. 50/50 chance that I’ll be selling at the bottom of the market. Drop hammer on foot, scream, grab foot, fall over, hit head on table, TKO. Brilliant… just bloody brilliant.
So if by your use of the word “interesting” you mean humorous for the benefit of the gods who stare down upon us and laugh at our pathetic situations I’d certainly have to agree that these types of financial products are “super interesting,” no doubt.
Even if I did get the BlockFi loan paid to me in Gemini dollars I’d immediately redeem these Gemini dollars for real dollars and then the stablecoin would be removed from the system.
This stuff makes no sense… sorry I just can’t get it. The people behind these things are too smart for me.