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Basecoin (aka the Basis Protocol): the worst idea in cryptocurrency, reborn

See also Bitshares: Don't walk away - run, Stablecoins are doomed to fail, Stablecoins are doomed to fail, part II, and Stablecoins are doomed to fail, part III. UPDATE, 4/18/18 - it appears Basecoin

Article posted 4 years ago

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Yaniv Feldman
On the news that Basecoin/Basis raised US$133mm today, this might be a good time to point out (1) the team doesn't understand finance, (2) the scheme collapses without new investors and (3) as-proposed there's a frighteningly complex compliance dimension.