Quote from: Betwrong on October 18, 2018, 12:39:52 PM

This is what I really can't understand. What was the point of buying USDC for $1.11, like it was traded 3 days ago with almost $10 million daily volume, if it was obvious that the coin would cost exactly $1 soon, because it is a "stable coin" by definition? What were the expectations of those people who were buying at $1.11? Were they thinking that USDC would go to $2, or what? And today, when it is $1.01 can we say that they lost 10% of their investment, Or is it more complicated than that?

I swear, if I see only one guy posting that he has bought USDC at 1.0whatever but it will soon moon or mars or ur anus, I'll start searching for a script where you don't ignore people, you add those whose posts you want to read. One such post and I'll lose hope .....

Quote from: Betwrong on October 17, 2018, 02:34:23 PM

With some effort I can understand the demand for one of them, but why there are so many of them and why even more are going to be issued? Does this mean that previously issued "stable" coins need improvement? Or, maybe, it means that older coins have compromised their reputation already and people expect that new ones will be more trusted?

Now, this one is easy...

https://www.forbes.com/sites/niallmccarthy/2016/08/01/starbucks-holds-more-cash-than-many-banks-infographic/#43f481cb231a

Quote

Starbuck's customers in the U.S. have loaded at least $1.2 billion onto the company's cards and app.

Every guy that is losing his coins (and a lot of morons do) means coins that will never be redeemed, just like cash on lost or forgotten Starbucks cards. Add fractions of USDC that people will never bother to move around, some that will never be changed for $ again waiting for god knows what and if we think of those as only 3-5% of the total, when those are put against 10-20 billion, it makes one pretty nice sum of money.

And there are the fees...
Bank Wire - Redeem 0.1% ($50 minimum) and the tx fees.