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

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

#121

Post by smrtinsert »

AustinDev wrote: post #100
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 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". Moments of clarity like this are one of the main reasons I keep coming back to this place. :D

What about the fact that I have no idea what credentials he has with regard to analyzing the banking system vs crypto? Please don't disregard my perfectly valid question as an ad hominem attack

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

#122

Post by RhysU »

_8j50 wrote: post #119
RhysU wrote: post #118

Earlier quoted context omitted.

> 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

KYC doesn't say you can't walk around with $10K in your pocket paying cash everywhere. It says the $10K should come from an understood source when you take it in or out of the bank.

I don't understand the illegal immigrant comment. Please do explain that if you like.

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

#123

Post by MandieD »

usr1106 wrote: post #31
throw6383878 wrote: post #26

Earlier quoted context omitted.

US imports of Russian enriched uranium, platina, cobalt... are now highest in history. Please leave empty moralising out of this. I am paying for programming services. Traditional banking system is unreliable, so I use crypto. Nothing illegal or unethical!

I claim even driving a car is unethical. Russia earns more money from energy imports now than before the war. Price is a function of supply and demand. Supply is difficult to change and certainly not in an ethical way. So everone maintaining demand supports the war, whether they want or not. An action does not get ethical because others are worse. It's good for your conscience noting others are worse, I don't deny th…

That’s why we’ve parked the car for all trips that are even theoretically possible with transit and keep the house at 17-18 C (about 64 Freedom Degrees), aside from the toddler’s room.

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

#125

Post by int_19h »

louwrentius wrote: post #97
ls15 wrote: post #94

Earlier quoted context omitted.

Water enables drowning.

Water is required for life. Crypto has no legal reason to exist.

What exactly would you ban? Cryptographically signed public ledgers?

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

#126

Post by int_19h »

Ztynovovk wrote: post #113
danuker wrote: post #105

Earlier quoted context omitted.

> 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.

In US, I wouldn't be surprised if a good third of the country subscribed to one or more conspiracy theories surrounding the Fed.

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

#127

Post by int_19h »

matheusmoreira wrote: post #88
_pc3z wrote: post #40

Sad nobody talks about Monero when cryptocurrency is mentioned. It is pretty much the only viable cryptocurrency. There are no wild promises of getting rich quick, just technology. There are hundreds of cryptocurrencies and Monero stands out like a sore thumb, trying to deliver nothing else other than privacy, security, and stability. It's what Bitcoin should have been. I am seriously not all that interested in crypt…

Yeah. The saddest thing about the cryptocurrency space is how actual good projects remain marginalized despite their value. Monero is what cryptocurrency was supposed to have been like since the start. Holding XMR means losing money because it doesn't increase in value proportionally to BTC and gets absolutely destroyed even in minor market crashes. It would be so nice if Monero turned into the de facto stable coin o…

This won't change until speculation stops being the most common use case for crypto.

In fact, I would dare say that crashes are good for the ecosystem for this exact reason. At the end of the day, the only people left will be those who really care about privacy and security - and that's when we'll see more substantial advancement in those areas.

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

#128

Post by int_19h »

louwrentius wrote: post #84
mrtksn wrote: post #19

Earlier quoted context omitted.

The US dollar is regulated and it’s use and transfer creates all kind of legal issues and as a result institutions that handle its storage and transfer run heavy KYC and reject unconventional use cases. When you turn it into a stablecoin you no longer have to deal with all that, you can easily trade unregistered securities and engage in ponzis without an oversight. Okay this sounds a bit too cynical but each crypto b…

I love the “unconventional use cases” as an euphemism for “crime”.

Sure. Buying drugs that ought to have been legal all along, for example.

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

#129

Post by giantrobot »

ShivShankaran wrote: post #45
giantrobot wrote: post #30

Earlier quoted context omitted.

Except the government fighting a war is getting taxes from those people that just want to engage in the economy to fund its war effort. Sanctions are not perfect but they're a better tool than a shooting war.

Quoted post unavailable.

Ah yes, the Whattabouts!

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

#130

Post by matheusmoreira »

int_19h wrote: post #127
matheusmoreira wrote: post #88

Earlier quoted context omitted.

Yeah. The saddest thing about the cryptocurrency space is how actual good projects remain marginalized despite their value. Monero is what cryptocurrency was supposed to have been like since the start. Holding XMR means losing money because it doesn't increase in value proportionally to BTC and gets absolutely destroyed even in minor market crashes. It would be so nice if Monero turned into the de facto stable coin o…

This won't change until speculation stops being the most common use case for crypto. In fact, I would dare say that crashes are good for the ecosystem for this exact reason. At the end of the day, the only people left will be those who really care about privacy and security - and that's when we'll see more substantial advancement in those areas.

I agree.
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