the “currency” is rife with scammers because the “currency” is a scam.
its a pump and dump ponzi. Its digital Bernie Madoff for the new millenium.
all of them are. Every single one.
Yes even the one you, dear reader, like. Especially the one you like.
Thats why they are so unstable.
And its also why anyone that tried to use them as currency abandoned it almost as soon as they started, because losing 20% of your transaction in the 5 seconds the transfer and processing takes isnt a deal anyone but the most desperate to stay in the shadows criminals are going to accept.
Not sure why your down voted. I have used them before to transfer money and works fine. It’s exactly why it exists. I wouldn’t store money there, but for transfers and transfer out, they work perfectly fine.
I only say this because the parent comment was in reference to payments and the reply was talking about investment inflation / deflation. for strictly sending payments, stablecoins can be okay. but as for crypto shit as a whole I’m not a fan of what it’s become.
the “currency” is rife with scammers because the “currency” is a scam.
its a pump and dump ponzi. Its digital Bernie Madoff for the new millenium.
all of them are. Every single one.
Yes even the one you, dear reader, like. Especially the one you like.
Thats why they are so unstable.
And its also why anyone that tried to use them as currency abandoned it almost as soon as they started, because losing 20% of your transaction in the 5 seconds the transfer and processing takes isnt a deal anyone but the most desperate to stay in the shadows criminals are going to accept.
except there are things like tether and usdc which are fixed to the value of the US dollar permanently.
Not sure why your down voted. I have used them before to transfer money and works fine. It’s exactly why it exists. I wouldn’t store money there, but for transfers and transfer out, they work perfectly fine.
It’s because supposed stablecoins often also end up being scams.
Yeah, i get that. But the 2 mentioned are fine and not going anywhere unless something catastrophic happens. I wouldn’t use some sketchy ones either.
Lemmy fuckin hates crypto lol
anyone with a functional brain and a flash of cognitive self awareness hates crypto.
cause its a fuckin scam designed to screw over rubes.
One of those stable coins was once found to not having a single cent backing it, unlike what the team behind it claimed.
Risk for risk, I stick to the feeless coins.
I only say this because the parent comment was in reference to payments and the reply was talking about investment inflation / deflation. for strictly sending payments, stablecoins can be okay. but as for crypto shit as a whole I’m not a fan of what it’s become.