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Stablecoins are no solution. It might be stable for some time and can work but at what cost? At a high cost!
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Unbacked stablecoins should be illegal. Because why should it be allowed to provide such a crap and have no insurance?
Every distributir of stablecoins should prove a backing of such stablecoins.
I fit is a 1-Dollar stablecoin, it needs tob e backed by 1 dollar.
If it‘ not backed, it should not be allowed tob e traded because it is huge risk for boyers in case it is getting hacked or collapsing.
The cost depend on what network you use, let me give you a breakdown of transfer fees from several networks:
Ethereum: 0.00186 ETH ($6,46)
[1]Solana: 0,000005 SOL ($0,00096) (
[2]Polygon: 0.00549 MATIC ($0,01)
[3]Binance Chain: 0.000056 BNB ($0,03)
[4]I also agree that every stablecoin should have a clear underlying asset, if it is backed by dollars then there must be 1:1 proof as well as others such as those backed by commodities and crypto. We don't want to see cases like LUNA-UST again which destroyed a lot of people out there, to this day i never want to go to algorithmic stablecoins again.
For me, bitcoin is a safe haven, but i also still need stablecoins which are easier to use for my daily needs, whether it's for withdrawals or sending small amounts of money to my friends.
[1]
https://etherscan.io/tx/0x9112a64857783085a4c7b98d057656be7d02e90f45def79e235ec5d3af02709f[2]
https://solscan.io/tx/5e9fMWdPqZT1zUr9qo2Hdi9uVc81eeUrBkwL9CFKLC5euMcgGkd96GNJ5Ae7NAMpVrBcjfEoUmNPW5TCwh1ojK9y[3]
https://polygonscan.com/tx/0x7ad34fedd5c71109ec706ffa16d4303e8c0a20778f4e1360afa4d18977cf34e8[4]
https://bscscan.com/tx/0xa5ef3afb4d7e0c14d6677136fdfac08ceb4e0d80449423350e0f289507cab28d