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You say they are "simply" a representation of fiat money, basically a fiat mirror held in crypto, but they play an incredibly important role in the ecosystem:
by fleddr 5y ago
You say they are "simply" a representation of fiat money, basically a fiat mirror held in crypto, but they play an incredibly important role in the ecosystem:
- In some countries, swapping crypto to stablecoin (another crypto) has no tax implications whilst swapping to fiat does have consequences.
- For big account holders (not me), stablecoins are the only way to put gains on "dry land". If you win big on exchanges, you can't take it out at once, there's withdrawal limits. It can takes months to get it out, years if really rich. During all this time, your gain may finish if you'd hold it in the original coin, so stablecoins secure your profit in the meanwhile.
Fascinating? No, but definitely important.
- quadcore 5y agoInteresting there is this new series on Netflix, StartUp about this stuff. So the question really is "does it work?". Couldn't this be interesting for that it will force us to change the way we code? For sure the best paradigm will win over time. And the best coders. People are investing in the coders at this point like they do in a bank. Feels like this story isn't stopping anytime soon.
- fleddr 5y agoIn general, everything in our society that can be turned into software code, will. Every company, every institute is a tech company, they just don't know it yet.