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Would you use a Heritage or S-B stablecoin?
MrEureka
Posts: 24,690 ✭✭✭✭✭
If widely accepted in the industry, and I think it would be, it would be safer and more efficient for coin show and online purchases, especially for international transactions.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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Nope. I don't see any additional safety or convenience over a number of other, more traditional methods.
Also, I am a die-hard anti-crypto person (although I do understand the difference between stable coins and other coins, I lump them all in together).
chopmarkedtradedollars.com
Neither. I will never buy or advocate for crypto. Put yer hands on hard money!
Proud follower of Christ! I love the USA! Land of the Bright and Beautiful! 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
never
Stable coins are very different from other crypto and would be very efficient for international transactions. Now the stupidity of why some stable coins trade over the par value of what they’re backed by is where the stupidity comes in.
Latin American Collection
Sure. Why not?
All comments reflect the opinion of the author, even when irrefutably accurate.
So you send them gold in the mail?
All comments reflect the opinion of the author, even when irrefutably accurate.
Not for me
Dunno. The same reason you don't have S-B store your collection in their vault. Do you?
Right now, your funds in a bank are insured by the federal government. Your Heritage or S-B stable coin would be insured by the same folks insuring UST, or deposits at FTX. The issuer.
Plenty of large, reputable firms in all sorts of industries collapse. All the time. Sometimes without warning. I would never want to be an unsecured creditor of any of them.
It's bad enough if I have $100 tied up in a TGI Friday's gift card because they offer a 20% discount for a purchase, and they later file for bankruptcy. Absolutely no reason, no reason at all, to tie up any real money in a Heritage or S-B payment system, and subject oneself to counter party credit risk.
That would be why not.
I'm PAYING them. I'm not SAVING with them. I don't have any deposits that need insuring
All comments reflect the opinion of the author, even when irrefutably accurate.
No. If you're buying stable coins, you're literally converting cash into a deposit with them.
If you aren't going to hold the stable coin as a currency to make future purchases, like a gift card, why get involved in the first place? The cash you use to buy the stable coin can just as easily be used to complete your purchase without using a stable coin.
Not necessarily. But I know there's no point in trying to explain it to you. It is quite possibly cheaper and more efficient than wire transfers, especially internationally
All comments reflect the opinion of the author, even when irrefutably accurate.
https://www.gemini.com/cryptopedia/pros-and-cons-of-stablecoins-benefits-and-purpose
All comments reflect the opinion of the author, even when irrefutably accurate.
You might not think it stupid if you were a Russian oligarch, a drug trafficker or a bitcoin billionaire looking to lock in some potentially tax free profits.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I wouldn’t want to hold Heritage stablecoins long term for the reasons you’ve given. But short term, the advantages could easily outweigh the risks.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.