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>>This "government issued fiat currency" garbage needs to die yesterday: a lot of people are going to lose their shirt when the first one blows up. What you ar
by K0balt 1y ago
>>This "government issued fiat currency" garbage needs to die yesterday: a lot of people are going to lose their shirt when the first one blows up.
What you are saying is a risk endemic to all fiat currencies, including stablecoins.
All symbolically represented forms of value quantization are subject to a failure of confidence. Cryptocurrencies are nothing new in this regard. All money is memetic in nature.
- jcalvinowens 1y agoThat's like saying "base jumping isn't really more dangerous than flying commercial, after all we're all going to die anyway". Fiat currencies have militaries. Your stablecoin doesn't.
- K0balt 1y agoThat’s one of the reason the stablecoins won’t be taking my assets? Idk what your point is but it doesn’t seem like you are debating from a point of rational examination. Weird, people on the internet spewing BS? Who’d have thought?
- jcalvinowens 1y agoWell, losing three months of revenue is going to really hurt when the stablecoin inevitably eats shit: hope you're prepared for that. The risk is obviously lower because you aren't parking money there. I could certainly see how you might come out ahead in fees for certain international transactions. But your original claim was that the aggregate risk-cost of dealing in stablecoins is lower than real currencies, and that is absolutely preposterous: you aren't accounting for all the risks.