11–20 of 376 posts
In contrast to other crypto currencies, nobody is holding it for speculation. I doubt anybody expects stable coins to be a better store of "dollar value" than the dollar itself.
Yet, someone holds those $150B worth of stable coins. Who and why?
I don't get all the bandwagon hate of crypto on this site.. Sure 99% of crypto schemes are b.s and ponzi. But I like to think in terms of use cases. Currently there is no way to send "money" to someone in another country on the other side of the world, in a decentralized way, and without transaction fees. Can this problem be solved without crypto? Probably, but currently crypto is looking like the best way to be able…
I don't get all the bandwagon hate of crypto on this site.. Sure 99% of crypto schemes are b.s and ponzi. But I like to think in terms of use cases. Currently there is no way to send "money" to someone in another country on the other side of the world, in a decentralized way, and without transaction fees. Can this problem be solved without crypto? Probably, but currently crypto is looking like the best way to be able…
It's not solved by real world implementations of any major blockchain.
Clickbait title it seems; USDT and DAI lost some market share while BUSD and USDC have grown more. > USDC has grown 20% with $10.6 billion more tokens in circulation. BUSD boosted up 22% — representing growth of $4.2 billion. USDT has shed about $4.1 billion, a 5% reduction, while DAI dwindled by 30% — from $8.9 billion to $6.2 billion.
If I am not mistaken, USDC (coinbase) is properly and regularly audited for proof-of-reserves?
Not so sure about Binance though.
But at any rate, if capital starts to migrate to audited stablecoins from POS (and by that, I don't mean proof of stake) like Tether, sounds to me like a good thing.
I don't get all the bandwagon hate of crypto on this site.. Sure 99% of crypto schemes are b.s and ponzi. But I like to think in terms of use cases. Currently there is no way to send "money" to someone in another country on the other side of the world, in a decentralized way, and without transaction fees. Can this problem be solved without crypto? Probably, but currently crypto is looking like the best way to be able…
If I'm sending a remittance or similar paying $$$$ in fees is absolutely not desirable. And with current gas prices the cost of sending anything less than 50k is pretty comparable with just doing a wire transfer.
What are people holding all those stable coins for? In contrast to other crypto currencies, nobody is holding it for speculation. I doubt anybody expects stable coins to be a better store of "dollar value" than the dollar itself. Yet, someone holds those $150B worth of stable coins. Who and why?
I don't get all the bandwagon hate of crypto on this site.. Sure 99% of crypto schemes are b.s and ponzi. But I like to think in terms of use cases. Currently there is no way to send "money" to someone in another country on the other side of the world, in a decentralized way, and without transaction fees. Can this problem be solved without crypto? Probably, but currently crypto is looking like the best way to be able…
To me, it’s strange that you can agree that most cryptos are scams but don’t understand why there is so much hate for them.
I don't get all the bandwagon hate of crypto on this site.. Sure 99% of crypto schemes are b.s and ponzi. But I like to think in terms of use cases. Currently there is no way to send "money" to someone in another country on the other side of the world, in a decentralized way, and without transaction fees. Can this problem be solved without crypto? Probably, but currently crypto is looking like the best way to be able…
What are people holding all those stable coins for? In contrast to other crypto currencies, nobody is holding it for speculation. I doubt anybody expects stable coins to be a better store of "dollar value" than the dollar itself. Yet, someone holds those $150B worth of stable coins. Who and why?
IIUC:
a) exchanges for short-term liquidity
b) traders for whom going in and out of actual USD is a giant PITN
The interesting idea behind crypto once was to have a totally different system.
Yet in reality, with greedy apes on a spacerock, it was an unreachable Utopia