Quote from: BlackHatCoiner on June 28, 2022, 09:37:22 PM

Does it matter if it's transparent alone, though?

Not at all. We can see what Tether does with USDT on various chains, but we can't see a single thing they do with their reserves. We know from previous court cases and filings that USDT is not backed up 1-to-1 with USD and that Tether are running a fractional reserve.

Quote from: bbc.reporter on Today at 12:51:17 AM

I am only talking about the concept of a stablecoin as a pemissionless, borderless and cheap internet currency we can use in crypto sportsbooks or in marketplaces similar to Opensea.

But stablecoins aren't permissionless - they are centralized and can be remotely locked/frozen by their issuers at any time, which has happened many times.

Quote from: bbc.reporter on Today at 12:51:17 AM

Also, yes 1 bitcoin = 1 bitcoin but what you can buy with bitcoin during November will presently cost you more today because it is -85% in value. It is a head shaking argument for stability.

Yes, but what I can buy with bitcoin 2 years ago will cost me far less because bitcoin is +50% in value. Whereas what I can buy with USD has never been lower than it is today. Until tomorrow.

Quote from: LoyceV on Today at 08:30:38 AM

I'm not so sure yet about the euro, but I'm pretty sure the current stable coins won't last 50 years.

Case in point: A "stablecoin"