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> there's absolutely no reason to ever consider a stablecoin Although Tether's purpose has largely been to avoid regulation, and participate in cryptocurrency
by gnode 7y ago
> there's absolutely no reason to ever consider a stablecoin
Although Tether's purpose has largely been to avoid regulation, and participate in cryptocurrency speculation, a stablecoin would be superior for actual commerce. Bitcoin has failed for commerce, to some extent because of instability and speculation.
Being able to use something equivalent to cash to transact digitally, with client-side security seems like a desirable technology to me.
- deleted 7y ago[deleted]
- xyzzyz 7y agostablecoin would be superior for actual commerce Superior to bitcoin, surely, but no superior to dollars. I have absolutely no difficulty with using my dollars to pay for anything I want. The biggest reason one might not want to use dollars is to conceal one's identity, and while I admit that there exist valid uses for that, most of the market for anonymous commerce is illegal activity.
- edmundsauto 7y agoA lot of people don't use dollars, and/or find the USD/$local_currency exchange process cumbersome and expensive.
- xyzzyz 7y agoOnline shopping exists in other countries too, and you don't need dollars to buy things online there.
- edmundsauto 7y agoVery true, but AFAICT it's not as easy in many countries. Shopping across borders is pretty expensive; currency conversions take a chunk.
- dmitriid 7y agoOnline shopping is instant, and I will have my physical goods within a week or two in most countries around the world, and my digital goods instantly. And there are several layers of fraud protection on top of that. The currency exchange rate is a minor price to pay for such a convenience. Meanwhile with <insert literally any cryptocurrency here> it’s just a simple <convoluted 20-step process not even guaranteed to work and with no consumer protection>.
- throwaway2048 7y agothe exchange process for cryptocoins is far worse in approximately every locale.