Re: Impact of USDC - Circle - & other Stable coins. Dangerous.
The primary risk of ever more stablecoins is splintering their markets into a bunch of tiny and weak ones. I see no reason why any self respecting exchange would list multiple coins. All they're doing it creating an incomprehensible mess with piddling volumes.
So we are a bit more confused, newcomers will be even more confused.
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Absolutely no way would places like Gemini or Circle gaily issue unbacked coins. It's not going to happen. They have heavyweight investors and regulators up their arse. They'll be a level of legitimacy higher than anything that's come before.
You never know, a lot of things can happen, and who knows which things are ever coming to the average person.(private info, and secret handles)Quote
Another risk is running them on ETH. If you have another cryptokitties then your quasi dollar gets stuck in a swamp of txs. And I hope those contracts are watertight as well.
right, this is a weak point. Maybe we soon see SC (Stablecoin) based on other Blockchains, more and more SCs?
Too many
And be prepared to have some more.
A friend told me that some exchange in Romania has launched its own stable coin or stablelion. (god how this sounds in English
).Funny people there
Stable-lion