Topic: No more stable coins and centralized garbages (Read 105 times)

And what did you think. Everything is so simple. Does the company fly into the sky just like that? Not every tool that has overcome a billion has a shadow economy. So that this product is indisputably produced for a reason and no one knows the true goals. Let's say a coup in the cryptocurrency world. And the shift of bitcoin in favor of centralized coins.

Facebook is by far only a part of the vast stack of entities tracking us. (Unfortunately) most don't care at all. Many others don't care as long as the ones tracking don't go beyond certain boundaries; of course Facebook just reached a new level in pushing those boundaries.

The stable coins are bad and also (somewhat!) good for the ecosystem. The stable coins allow certain automation/bridging, which in some cases is necessary (and cannot be done properly with proper fiat), and I don't talk about arbitrage. Of course, the extent of their use, the lack or regulation in using them meaning that some are not as well backed by proper money as they should, this is very bad.

Facebook coin is obviously crap. It took almost all the bad aspects of fiat into crypto world. But the money behind it will provide great advertising for the proper coins. The money behind it can bring proper bridging between proper crypto and the actual financial world, providing maybe better ways to spend (proper) crypto. And as long as the current way of fiat exists, we will need bridging, in a way or another.


So stable coins are bad, but also somewhat useful and as long as there's demand, they'll be produced.
I don't like them, I don't trust them and I don't use them directly. I wouldn't be surprised though if I'd find out that some of the services I use are using stable coins internally.
And Libra is the cherry on top of the worse stable coins, and still, it could be beneficial. Let's see if it'll do more good or more bad; it'll clearly do both.

With recent hype of Facebook coin. Are not you afraid of disaster what could happen? Now Facebook knows who you are, where you are, what are you doing and with recent Globalcoin they will know even more, they will know everything about you. Now it seems as a reality that Facebook is really a product of FBI to track all people over the world and what is the best? People want that! It is free and cool!


And about stable coins.. the average inflation rate is around 2%. If you save up your money for 30 years ,you can be sure that after 30 years you will have only half of the original amout, respectively you will be able to buy only half of what you could afford 30 years ago. Is it really the stability what we are looking for?