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A comment on Stripe to start taking crypto payments starting with USDC stablecoin. Parent comment

Re:Stripe to start taking crypto payments starting with USDC... by pedalpete on Thursday April 25, 2024 @07:06PM (#40164153)
Stablecoins provide all the risks of crypto, with none of the rewards.

They aren't inherently a scam, but that doesn't mean that they can't be part of a scam.

Luna had a "stablecoin" but that turned out to be a scam, but that doesn't mean all stablecoins are scams.

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Re:Stripe to start taking crypto payments starting with USDC... by inhumantsar on Thursday April 25, 2024 @08:18PM (#40164601)
Terra's stablecoin wasn't so much a scam as it was built on a house of cards. They backed it with their own coin and a dynamic mint/burn algorithm, basing it all on the assumption that they'd never have that kind of crisis. In the end tho they did and it became a feedback loop.

Circle's treasury is (iirc) 1:1 with USD and T-Bills. If those fail the way Luna did then there are bigger things to worry about.

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