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Oh wow, there's another interesting story on that site: > Trump Administration Likely to Un-ban Bitcoin Mixers, Dept. of Treasury Says They are “Not Unlawful” https://bfmtimes.com/trump-likely-to-un-ban-bitcoin-mixers/
Earlier quoted context omitted.
I don't know how this specific thing works, but I don't really see any fundamental problem with mixing and matching. If you believe in the benefits of crypto, then 50% crypto is still possibly better than 0%. It's not like I forgo a lock on my front door just because my windows are made of glass.
Currency isn't a homebrew computer or backyard car project; it is either centralised or not; there is no in between. Blockchain with central authority is the worst of both worlds.
Of course n can be smaller and the specific people less trustworthy, but that's quite a different thing.
It seems to me that their initial value is 1usd per token (or some other fiat I guess) and that's also the roof of their value: they kinda guarantee that they won't become more valuable than that.
They are less usable than fiat: more businesses accept fiat than crypto, especially weird and small coins like all stable coins are.
There isn't really a floor to their value, as demonstrated here.
I see plenty of downsides of owning one of these coins, but not a single upside?
Yet people apparently do buy them, so what is the upside? There must surely be something that's good about them?
How is this industry still an industry?
People love gambling. Get rich quick pitches have always been popular. Now, as to why the SEC hasn’t regulated crypto out of existence.. I refer you to dementia Don
They also had a smart contract which didn't do some proper checks, but the hack was only possible with the stolen private key. Whoever held the private key was able to mint a lot of money, unchecked.
So there was a traditional hack at the core of this heist, not just a smart contract exploit.
Earlier quoted context omitted.
People love gambling. Get rich quick pitches have always been popular. Now, as to why the SEC hasn’t regulated crypto out of existence.. I refer you to dementia Don
Joe had 4 years, Barack had 8. The office of the president doesn't seem motivated to regulate crypto
If the admins can "lock all transactions", what's the point of it being a crypto?
What is the point of stable coins? Like why does anyone buy them? It seems to me that their initial value is 1usd per token (or some other fiat I guess) and that's also the roof of their value: they kinda guarantee that they won't become more valuable than that. They are less usable than fiat: more businesses accept fiat than crypto, especially weird and small coins like all stable coins are. There isn't really a flo…