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A comment on Crypto firm BlockFi files for bankruptcy as FTX fallout spreads. Parent comment

Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by woah on Monday November 28, 2022 @01:43PM (#33777685)
You can, using stablecoins like USDC. These also involve counterparty risk, but they are extremely simple to audit and regulate.
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Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by ceejayoz on Monday November 28, 2022 @01:56PM (#33777889)
> they are extremely simple to audit

Tether's audit has been promised since 2016. Still hasn't happened yet.

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Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by tootie on Monday November 28, 2022 @05:00PM (#33780467)
Stablecoins are cryptofiat. There's no compelling reason to use a stablecoin over using USD.
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Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by mrep on Tuesday November 29, 2022 @10:12AM (#33788514)
But transferring to stablecoins means you don't have a taxable event and thus don't have to pay cap gains /s
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