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How can I report and share information so they fix mistake about not seeing the scam?
https://www.paypal.com/us/digital-wallet/manage-money/crypto/pyusd
Hopium addiction is truly a sad phenomenon to witness.
PayPal is not above profiting from scams. They are treating buyers pretty well, but there's quite some horror stories out there on the seller side of things. There's also a wave of Fraud on the platform, a long list of controversies and some class action lawsuits as well.
So in summary: crypto is not 100% scam (but maybe 99%?) and PayPal launching a StableCoin does not mean that this new coin is not gonna be used in/for any scams.
Stablecoins are especially funny, since they're not even real cryptocurrencies. They have an issuer that you have to trust, and are pegged to a fiat currency controlled by a government. They're entirely opposite to the promise of independent, distributed, and trustless cryptocurrencies.
Right.
The scam here is the extra fees and possible exchange rate manipulation.
You can use fiat or you can use crypto and pay more.
Which one are you going to choose? This "stablecoin" is just a ruse to charge crypto bros extra fees.
Because there's money to be made on it. It's a buzzword that sells to a certain demographic. Stablecoins are especially funny, since they're not even real cryptocurrencies. They have an issuer that you have to trust, and are pegged to a fiat currency controlled by a government. They're entirely opposite to the promise of independent, distributed, and trustless cryptocurrencies.
All they have to do is *tell* the crypto idiot that some part of their account is now in "stable coins" instead of dollars.
Everything else stays exactly the same --- except for the additional fees for using stable coins.
Scam? You be the judge.
However, paypal can't be trusted so I would not use anything from them.