I don’t think that will happen. Instead, that wealthy person will doubt that we could keep the peg without them and will wait for us to dilute. Then, they will buy up the company.
But anyway, you’re talking about a complete crypto crash. Yes, in that case our small crypto startup will suffer greatly, as will every one of our competitors. Short of some vital flaw in the blockchain technology, I just don’t see this happening anytime soon.
And then there’s the NuSafe concept. We will eventually be able to hedge into something like physical gold using similar mechanisms. Of course, this requires us to collateralize using other cryptos, but we can make the collateral much higher than expected decrease of value. Ultimately, if every crypto black swans all at once we’re screwed, but so is everyone else.
Also, BKS doesn’t follow BTC hardly at all.
