Quote from: NotATether on August 15, 2023, 10:30:53 AM

Quote from: cyrilmorris on August 11, 2023, 05:27:06 AM

This is big news in the cryptocurrency space. Having a major brand like PayPal issue a stablecoin could help drive mainstream adoption.

Mate, we have had USDT for years at this point, and that is what everyone is using. Of course, the company that mints USDT (Tether) cannot be trusted to keep it fully pegged, but do you honestly think that PayPal USD will get huge adoption?

Why not? To my mind there is a very high chance that USDT will end up like Terra because they mint whatever numbers they want without actually backing it up with real assets and that's not only just a rumor. PayPal, on another hand, is number one payment provider, has been in business since the beginning and are still leaders in their niche. This makes PayPal very safe and trustworthy and definitely makes me think that there is a very low chance that PayPal's stablecoin will go down to zero because if that happens, then the PayPal as a company will demolish and this corporation is big enough with smart employees to not let this happen.
If you talk about PayPal blocking user's stablecoins, then you are right, that will happen in case governments or company thinks that there is something wrong but we don't talk about privacy here, then you shouldn't use stablecoins and stick with Monero. For businesses, rich traders and average people, PUSD is better alternative to fiat than USDT.