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What would the stable coin look like? I mean, we already have 700+[1] "coins." we are way passed the ridiculous stage on that front.

[1] - https://en.wikipedia.org/wiki/List_of_cryptocurrencies

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A stable coin is a token that, using some mechanism, is able to hold a stable value. The most prominent group trying to make this work using ethereum, I think, is http://makerdao.com/docs/.

A stable coin is a crypto asset that is backed by a real value.

If you own 1 EthUSD, there is a warranty that someone will give you 1 USD for that token

This is sarcasm, no?

So a meta-fiat currency?

A real-world warranty, which means you can't rely on it. You might own as many EthUSD tokens as you want but you can never be sure that someone will buy them from you at the 'fixed' price.

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