UST Stablecoin Loses Dollar Peg

Re:UST Stablecoin Loses Dollar Peg by JoeJonathan on Monday May 09, 2022 @11:20PM (#31323052)

Apologies here, but could someone ELI5: what's the appeal of a stablecoin? If I want to hold something in an asset pegged to the dollar, why not just hold dollars?

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Re:UST Stablecoin Loses Dollar Peg by mNovak on Monday May 09, 2022 @11:38PM (#31323161)

It's the same reason you have money in a (zero interest) checking account rather than holding cash. For some that's the idea of security, others the convenience of spending "digital money" (e.g. wanting to do block-chainy things without risking the currency fluctuation of ETH or other coins).

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Re:UST Stablecoin Loses Dollar Peg by strikelaserclaw on Tuesday May 10, 2022 @10:57AM (#31327891)

and for others, its a way to evade taxes

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Re:UST Stablecoin Loses Dollar Peg by freefruit on Monday May 09, 2022 @11:56PM (#31323277)

Easy to send and trade a stablecoin. May also avoid tax in certain countries.

Particularly useful in decentralized finance as it's on the same chain as the token you are trading.

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