Re:Facebook loses users for the first time
by cuteboy19 on Friday February 04, 2022 @05:55AM
(#30205242)
Stablecoins have the worst of both worlds. You have the stablecoin issuers printing like crazy and you have the no chargebacks part of crypto.
[ Parent
| on HN ]
> You have the stablecoin issuers printing like crazy.
Who is exactly printing tons of these stablecoins, USDP? or any other regulated stablecoin?
> and you have the no chargebacks part of crypto.
And using cryptocurrencies eliminates chargeback fraud which that is abused by the users. The merchants can get their accounts shutdown and their money withheld for months due to the payment processors locking the money and they always side with the bank, which of whom have no context if the chargeback is fraudulent or not.
I don't see how one can use stablecoins for speculation purposes, which one can do with Bitcoin, which that is completely unsuitable for payments.