It's time for us in the tech world to speak out about cryptocurrency

Re:It's time for us in the tech world to speak out about cry... by Keyframe on Sunday May 30, 2021 @07:14PM (#27337917)

Stablecoins like USDC, if everything around it is legit, can be viewed as a programmable dollar... circumventing everything and anything bank-related to do the same work. That's pretty legit IMO.

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Re:It's time for us in the tech world to speak out about cry... by graeme on Sunday May 30, 2021 @07:52PM (#27338228)

That’s a big if. People are offering 10+% interest for USDC, but not for USD. This implies massive risk, as those interest rates are much higher than junk bonds.

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Re:It's time for us in the tech world to speak out about cry... by nootropicat on Sunday May 30, 2021 @09:31PM (#27338950)

Two economists are walking down the street and see a $20 bill lying on the sidewalk.

The first economist says, "Look at that $20 bill."

The second says, "That can't really be a $20 bill lying there, because if it were, someone would have picked it up already."

They walk on.

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Re:It's time for us in the tech world to speak out about cry... by floatboth on Sunday May 30, 2021 @08:17PM (#27338420)

> if everything around it is legit

Ha ha ha. That would only be possible with a government issued digital currency. Any private company running a "stablecoin" is guaranteed fraudulent. Can't be legit.

https://twitter.com/Bitfinexed/status/1398722723543760897

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Re:It's time for us in the tech world to speak out about cry... by wmf on Sunday May 30, 2021 @07:25PM (#27337997)

I notice that you say "can be viewed as" not "are used for"... USDC is just used as a lubricant for crypto speculation. Payment or remittance providers don't use USDC because it isn't actually better. Sure, now you have a programmable dollar; why isn't anyone programming anything good with it?

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