Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is one but has many values
by
Tytanowy Janusz
on 19/02/2022, 21:23:03 UTC
Stablecoins can't be compared against Bitcoin, because they are centralized. They rely on a company to manage the fiat funds, the banking system, and they usually feature mechanisms for freezing accounts and transactions. Bitcoin may not be a popular currency or a practical enough currency, but it's still currency.

Yea. Stable coins are bed solution. As I said in my post: "But am I holding it as BEP-20 BUSD? No, because I dont trust it. Its fast and easy to deal with but not safe to store wealth for more than its needed." mostly because all you said
-"centralized. They rely on a company to manage the fiat funds, the banking system, and they usually feature mechanisms for freezing accounts and transactions"

But as a transfer of value its cheaper, faster and easier to handle than bitcoin. So its a better "internet money". And i'm speaking from a perspective of a guy who is constantly managing payouts. And don't get me wrong. I agree with everything you said about bitcoin. Its my biggest part of my "net worth". I put most of my profits in bitcoin, but I use stable coins as "internet money" mostly because people i deal with want a $$ deal and they dont want me to charge them a 10-50$ transfer fee (bitcoin is super cheap last days, 0.50$ is enough but it was not like that before and people still remember, and are afraid it will repeat, so they chose stable coins when I ask them how they want to get payout).