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Stablecoins like USDC, if everything around it is legit, can be viewed as a programmable dollar... circumventing everything and anything bank-related to do the
by Keyframe 5y ago
Stablecoins like USDC, if everything around it is legit, can be viewed as a programmable dollar... circumventing everything and anything bank-related to do the same work. That's pretty legit IMO.
- wmf 5y agoI notice that you say "can be viewed as" not "are used for"... USDC is just used as a lubricant for crypto speculation. Payment or remittance providers don't use USDC because it isn't actually better. Sure, now you have a programmable dollar; why isn't anyone programming anything good with it?
- graeme 5y agoThat’s a big if. People are offering 10+% interest for USDC, but not for USD. This implies massive risk, as those interest rates are much higher than junk bonds.
- nootropicat 5y agoTwo economists are walking down the street and see a $20 bill lying on the sidewalk. The first economist says, "Look at that $20 bill." The second says, "That can't really be a $20 bill lying there, because if it were, someone would have picked it up already." They walk on.
- floatboth 5y ago> if everything around it is legit Ha ha ha. That would only be possible with a government issued digital currency. Any private company running a "stablecoin" is guaranteed fraudulent. Can't be legit. https://twitter.com/Bitfinexed/status/1398722723543760897 https://twitter.com/Bitfinexed/status/1398722723543760897