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There are still many barriers to that "first class" status, taxes are mentioned most often. Taxes are paid in fiat. Holding non-stablecoins would add even more
by _jjkk 5y ago
There are still many barriers to that "first class" status, taxes are mentioned most often.
Taxes are paid in fiat. Holding non-stablecoins would add even more of a tax headache because you'd have to track capital gain/loss as you enter/exit fiat for taxes / fees / vendors that don't accept crypto
Also the fact that general adoption has been slow so far may be a sign that there is not enough obvious value added for the average person to consider using crypto over fiat.
- svarog-run 5y agowho would pay with non-stablecoins though? The oath seems to be cbdcs that are compatible with public smart contract blockchains
- AlexandrB 5y agoThere's also the risk that stablecoins aren't actually stable but just claim to be such: https://www.coindesk.com/tether-first-reserve-composition-report-usdt https://www.coindesk.com/tether-first-reserve-composition-re...