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This is what stablecoins are for, such as USDT, TUSD, etc. I'm sure you'll bring up the point that you still need exchanges for USD -> stablecoin. You can alte
by scoopitywoop 8y ago
This is what stablecoins are for, such as USDT, TUSD, etc.
I'm sure you'll bring up the point that you still need exchanges for USD -> stablecoin. You can alternatively use crypto ATMs, or trade with someone you know.
- dmitriid 8y agoThere’s no reality in which the scam commonly known as Tether is a stablecoin.
- dragontamer 8y agoStablecoins rely on the trust of the company to float the value of the USD or whatever currency with the coin that is generated. USDT is owned and operated by a single, foreign company that hasn't had an audit yet and has no insurance protections what-so-ever. I'm not going to trust them with my money or business. This about the worst of all cases: they pretend to be a blockchain, but they're really just a standard old bank operating without any regulatory behavior what-so-ever.
- omarchowdhury 8y agoThere is significant competition growing against Tether. The following three stablecoins have $500M+ in circulation all backed by US regulated companies: USDC, TUSD, and GUSD.
- dragontamer 8y ago> all backed by US regulated companies That means they aren't actually cryptocoins. That means those are banks, which are backed by the court system and the ability to sue those banks for your money if they mess up.
- omarchowdhury 8y ago> That means they aren't actually cryptocoins. That's not the argument here. I'm showing you that there are legitimate alternatives to USDT.
- jeffrwells 8y agoTrading with someone you know ruins the point of a trustless system. If that person ends up duping you, then you need to sue them (litigation)