Top stablecoins shed $7B in May as traders redeem tokens en masse

Re:Top stablecoins shed $7B in May as traders redeem tokens ... by cmeacham98 on Sunday May 22, 2022 @02:44AM (#31465514)

I don't need to send money to the other side of the world in a decentralized way. There's a good chance I never will and similarly 99% of people do not and never will have this problem.

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Re:Top stablecoins shed $7B in May as traders redeem tokens ... by MisterSandman on Sunday May 22, 2022 @02:50AM (#31465558)

I hate crypto as much as the average HNer, but "I don't need it so therefore nobody does" is a stupid and short-sighted reply.

There are at least a dozen countries that I can think of that have massive restrictions on how many flows in and out of the country, preventing people from being able to keep their money safe from raging dictators or changing rulers.

It's a lot more than 1%.

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Re:Top stablecoins shed $7B in May as traders redeem tokens ... by joebob42 on Sunday May 22, 2022 @02:42PM (#31471366)

It's not nobody, but I think it's a lot less than 1% of people that are going to need to send a meaningful amount of money to places like that.

Obviously providing some service to even .01% of people or whatever is valuable. But at this point Bitcoin is valued like Google which is used by tens of percents of all people.

[ Parent | on HN ]