thomas

If Circle sells to Ripple, I’m dumping my bags, deleting this app, and pretending I was never near crypto in the first place

If Circle sells to Ripple, I’m dumping my bags, deleting this app, and pretending I was never near crypto in the first place

https://watcher.guru/news/circle-in-talks-to-sell-as-coinbase-ripple-emerge-as-top-buyers

Aviator, diver, Etherean, nexialist, PhD in aviation and climate science, host of /diving /ethfinance /forteantimes /geopolitics /science /singapore /thomas

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The DAI backing self-circularity bothers me too. And permissioned stablecojns defeat the purpose. At this point I’d just treat SCs like CEXes, i.e., public bathrooms. Go in, do your business, get out, and then it doesn’t matter which one you use, because the odds of a collapse in that narrow window of time is slim. The true store of value is the one that can’t pull the rug on you (ETH, etc), so that’s what I’d switch to immediately before and after

Thoughts on moving assets to a different stablecoin issuer such as Tether, DAI? (although I know DAI is made up of other issuers)

Defi. Ethereum. Physics.

Data at @quotient.

I mean I'm not really going to defend a suit, but it's just one suit selling to another suit, a bank account wrapper coin. Why draw the line here when it's already crossed?

Circle was always going to sell. Come on big dawg.

You could see this in their S1 where they have to give Coinbase half their revenue just to keep them as a distribution partner.

Farcaster Development Boutique @ https://dTech.vision 💜 in love with tech 🤓decentralization, fitness and oldschool rap 😎

Too reliant on Coinbase for USDC distribution (which is why Coinbase gets to extract lots of value from USDC). Investors aren't super convinced it seems.

The real question is why don’t they continue the IPO?

What spooked them?

Makes no sense to sell to Ripple instead of IPO unless it’s a last resort. Ripple’s shares are paper money since they aren’t publicly traded. Coinbase makes a little more sense.

I assumed Coinbase would be the defacto, if not outright, owner eventually. Ripple is a tangle I didn’t expect. Curious: why the resistance?

come on circle, not ripple, that's insane