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I wasn’t sure if paypal-corp was a legit webpage for paypal. Here’s a Reuters article confirming the story https://www.reuters.com/technology/paypal-launches-stablecoi...
Yeah paypal-corp.com screams phishing address, what were they thinking?
This seems like yet another ERC-20 stablecoin with no special "quirks", from a quick reading. My question is, what is the reason for this to exist over existing stablecoins that have much broader acceptance and long history (for crypto anyway), e.g. USDC/USDT?
I wasn’t sure if paypal-corp was a legit webpage for paypal. Here’s a Reuters article confirming the story https://www.reuters.com/technology/paypal-launches-stablecoi...
https://c212.net/c/link/?t=0&l=en&o=3937494-1&h=2086543002&u...
Earlier quoted context omitted.
Just an honest question. I'm not terribly familiar with the space, so I'm happy to be shown a counter example. Thank you
Fiat backed (hopefully :-): USDT, USDC, PAX Dollar (by paxos the same company behind pyusd) Crypto backed: DAI, LUSD (backed by ETH), crvUSD, FRAX EURO based (with full e-money licenses): EURe (monerium.com), EUROe (euroe.com)
Earlier quoted context omitted.
Fiat backed (hopefully :-): USDT, USDC, PAX Dollar (by paxos the same company behind pyusd) Crypto backed: DAI, LUSD (backed by ETH), crvUSD, FRAX EURO based (with full e-money licenses): EURe (monerium.com), EUROe (euroe.com)
Maybe a dumb question but what’s the point of a fiat backed coin? Is it a faster Venmo?
This seems like yet another ERC-20 stablecoin with no special "quirks", from a quick reading. My question is, what is the reason for this to exist over existing stablecoins that have much broader acceptance and long history (for crypto anyway), e.g. USDC/USDT?
Of course this probably won’t happen for regulatory reasons, and even if it does pyusd may have the same type of blacklisting that prevents many dapps from using usdc.
Earlier quoted context omitted.
> Who else read PYUSD as "pie-usd" intuiting something like "Python USD"... "pip install pyusd" Honestly? Probably no one, but I like here your head is going; money as code is something that we in the Bitcoin community have been advocating since it's inception. People need to understand that money has to evolve, and that the current system is as archaic as the massive computing machines that occupied entire warehouse…
And beside some slogans, how exactly will cryptocurrency beat that "archaic" system? As a customer there is exactly 0 benefit for be to use crypto. The single mobile app from my bank, allows me to pay for anything online in few seconds, contact-less credit cards do the same in brick&mortar shops. I am literally afraid that physical cash will die out, cause it isn't convenient enough.
Also the parent comment is out to lunch, crypto will likely never replace fiat simply because there’s nothing preventing states from implementing the parts of crypto that succeed.
This seems like yet another ERC-20 stablecoin with no special "quirks", from a quick reading. My question is, what is the reason for this to exist over existing stablecoins that have much broader acceptance and long history (for crypto anyway), e.g. USDC/USDT?
So someone else can make a ton of money by manipulating and artificial and most importantly unregulated market. IE why cryptocurrency exists at all.
Earlier quoted context omitted.
Just an honest question. I'm not terribly familiar with the space, so I'm happy to be shown a counter example. Thank you
USDT and USDC would be the two biggest examples by market cap, though USDT has been mired in... "controversies", and USDC almost got hit by the US Banking Panic this year,