Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained

old.reddit.com

Post reply on HN
Print view View original

111–120 of 147 posts

Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained

#111

Post by ZGDUwpqEWpUZ »

hypertele-Xii wrote: post #106
sphinxster wrote: post #93

Earlier quoted context omitted.

Whataboutism is whataboutism. Attempting to invoke the thankfully largely-discarded concept of "whataboutism" is actually just a kind of backhanded ad hominem used to avoid making a real argument and instead try to make people "look the other way". Criticism of the existing financial system in the context of discussing a proposed replacement for it is about as related a discussion as possible. Simply stating that all…

Whataboutism is the derailment of discussion by roping in irrelevant subjects. Saying "that's off-topic" is not a personal attack.

Accusing someone of deliberately derailing a conversation when they're doing no such thing is obviously going to be taken as an insult.

You can question the relevance of a comparison without questioning the integrity of the person bringing it up: say it's off-topic and explain why.

More often than not, accusations of "whataboutery" are used to avoid having to explain why something isn't relevant and thus avoid addressing whatever point is being made. I'd go as far as to say it's why the word even exists.

Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained

#112

Post by Ztynovovk »

_8j50 wrote: post #110
jmartin2683 wrote: post #77

Cryptocurrency, as a thing, just needs to go away. How many people have to lose their life savings before we admit a bad idea? All so that NK can pay for nukes, people can buy drugs and extort people on the internet. We’re not making the world a better place here, folks. Good effort, but no. Let’s stop now.

Who is "we"? Do you work in crypto? Give me a digital payment option without kyc or a risk of "assets are frozen because ____ gov said so" then we'll talk. As an adult, take responsibility for the consequences of the risks you take. If it isn't crypto the it is the race tracks or lottery. High risk, high reward and you knew that getting into it! No one forces you or tricks you into using crypto.

> As an adult, take responsibility for the consequences of the risks you take.

Haha, you’re a funny guy. This thinking is fantasy. People can’t regulate themselves.

Keep thinking this though if you are that delusional.

Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained

#113

Post by Ztynovovk »

danuker wrote: post #105
louwrentius wrote: post #82

Earlier quoted context omitted.

Whataboutism isn’t an argument, it’s just a silent admission of guilt, trying to make people look the other way. Criticism of our existing financial systems is valid but it’s a different topic, it does make society happen and has tremendous value. Crypto has negative value. It undermines society, and it actively facilitates crime.

> is valid but it’s a different topic No, the financial system is the reason Bitcoin was created: state and banks are cooperating to debase the national currency. Crypto undermines tyranny, not society.

Tech-libs need to get in touch with reality.

In all my tears of living I’ve never had a conversation where someone used the word tyranny and banking in the same sentence.

Average joe just wants their assets insured and kept in a safe place.

Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained

#114

Post by EB-Barrington »

ShivShankaran wrote: post #98
EB-Barrington wrote: post #95

Earlier quoted context omitted.

[flagged]

https://www.ecchr.eu/en/publication/the-iraq-invasion-is-a-c... https://www.theguardian.com/world/2004/sep/16/iraq.iraq "Iraq war was illegal and breached UN charter, says Annan" Even if George Bush went around US punching everyone in their face and telling them that all the wars were war crimes, Americans would accuse him of being a Kremlin apologist.

I'm not American.

And, I'm capable of seeing more than one evil in this world.

Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained

#115

Post by dragontamer »

BillyTheKing wrote: post #17
xiphias2 wrote: post #13

Earlier quoted context omitted.

Most people in the world don’t have access to the reserve currency of the world (especially the countries don’t have the right to print it), they are born in disadvantage.

I'm not sure why you're being down-voted, but that's exactly the biggest real-world use-case for stable-coins. They're a way for people to buy USD and sell their own deflating currency

Except you aren't buying a USD when you buy a stablecoin. You are buying a fraud that pretends to be a dollar.

A true dollar, offered by a bank or money market fund, has assurances from the US that it really exists in our federal reserve system.

A stablecoin is a chuck e cheese token pretending to be a dollar. I can make an excel spreadsheet pretending I have a billion dollars, but I'd be a liar if I did that.

Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained

#117

Post by aetherane »

danuker wrote: post #103
MomoXenosaga wrote: post #65

Earlier quoted context omitted.

I have the feeling that as more people find out crypto is not a way to get rich quick the interest from mainstream society will dwindle. Cryptocurrency was and still is being shilled everywhere and FOMO is real.

It may not be a get rich quick scheme, but it's certainly helpful in countries with oppressive inflation, in spite of its 80%+ crashes. Venezuela's inflation rate was 1,700,000% in 2018.

It seems equally helpful as USD then.

Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained

#118

Post by RhysU »

_8j50 wrote: post #110
jmartin2683 wrote: post #77

Cryptocurrency, as a thing, just needs to go away. How many people have to lose their life savings before we admit a bad idea? All so that NK can pay for nukes, people can buy drugs and extort people on the internet. We’re not making the world a better place here, folks. Good effort, but no. Let’s stop now.

Who is "we"? Do you work in crypto? Give me a digital payment option without kyc or a risk of "assets are frozen because ____ gov said so" then we'll talk. As an adult, take responsibility for the consequences of the risks you take. If it isn't crypto the it is the race tracks or lottery. High risk, high reward and you knew that getting into it! No one forces you or tricks you into using crypto.

> Give me a digital payment option without KYC...

Dude, most anything in violation of KYC is sketch.

Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained

#119

Post by _8j50 »

RhysU wrote: post #118
_8j50 wrote: post #110

Earlier quoted context omitted.

Who is "we"? Do you work in crypto? Give me a digital payment option without kyc or a risk of "assets are frozen because ____ gov said so" then we'll talk. As an adult, take responsibility for the consequences of the risks you take. If it isn't crypto the it is the race tracks or lottery. High risk, high reward and you knew that getting into it! No one forces you or tricks you into using crypto.

> Give me a digital payment option without KYC... Dude, most anything in violation of KYC is sketch.

No. People pay cash all the time. You think illegal immigrants do kyc stuff? And that's just a small example

Re: USDD/Tron near collapse: USDD stablecoin below $0.97, reserve collateral drained

#120

Post by _8j50 »

Ztynovovk wrote: post #112
_8j50 wrote: post #110

Earlier quoted context omitted.

Who is "we"? Do you work in crypto? Give me a digital payment option without kyc or a risk of "assets are frozen because ____ gov said so" then we'll talk. As an adult, take responsibility for the consequences of the risks you take. If it isn't crypto the it is the race tracks or lottery. High risk, high reward and you knew that getting into it! No one forces you or tricks you into using crypto.

> As an adult, take responsibility for the consequences of the risks you take. Haha, you’re a funny guy. This thinking is fantasy. People can’t regulate themselves. Keep thinking this though if you are that delusional.

Right, but they can understand their inability to regulate themselves and be responsible. Some of us can drink all we want and we won't commit crimes or hurt people yet others can't help it so they should not get drunk. Plenty of people gamble at vegas without losing all their savings and plenty if people trade options without committing suicide. So because a bunch of people can't help themselves that doesn't mean you take away the libery of everyone, it means those people need to know themelves and stay away from it.
Post reply on HN