Quote from: Lucius on Today at 10:59:02 AM

The problem is not only in whether or not the so-called stablecoins are backed by anything, but also in the fact that most of them are centralized to such an extent that their issuers can freeze them at any time. All those who use stablecoins for any reason are therefore always exposed to these risks - so the question arises whether it makes more sense to trust fiat currencies of central banks or so-called stablecoins, which are practically the same thing issued by private companies.

The volatility of Bitcoin can be a problem for those who invest in the short term and are also prone to panic - but if you are in Bitcoin for the long term, then this volatility can only be an advantage, not a disadvantage.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

It is not the stablecoins themselves which have the main issue of being being centralized, although they do add another layer of centralization on top of their blockchain, which is already semi-centralized.

Binance chain, Ethereum, all centralized from what I can tell. Binance chain has what, 21 validators? Ethereum is now PoS (Proof-Of-Work) and two addresses owned almost half of all Ethereum on day 1 of the PoS launch. Obviously the future of stablecoins are steering into the direction of centralization.

But if you wanted to avoid the downsides of fiat, why peg your crypto to fiat in the first place? 1 BTC = 1 BTC.