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https://warpcast.com/~/channel/law-policy
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matthewb
@matthewb
from paul krugman's substack: "...stablecoins don’t serve any clearly useful function. They can’t be used to make ordinary purchases, and there’s nothing you can do with them that can’t be done more cheaply and more easily with debit cards, Venmo, Zelle, wire transfers etc. That is, why not just use dollars instead of tokens that are supposedly backed by dollars?" honestly shameful behaviour, lying to your gullible shitlib audience that doesn't know any better. not even worth the time to write a rebuttal but: 1) stablecoin remittances are between 100-1000x cheaper (and faster) than wire transfers, this is a very stupid talking point 2) USDC is backed 1:1 and publishes monthly independent transparency reports, why pretend otherwise? fractional reserve banking is held to a far lower standard and I'd expect an "economist" to know better. https://paulkrugman.substack.com/p/digital-corruption-takes-over-dc
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@BestCryptoTwits
@bestcryptotwits
Bro… you need to study the fraud behind Bernie Madoff, Enron, maybe even TerraLuna UST before you realize how badly this can end up It’s programmable currency, they can just pull the rug out from under for any reason lol Can’t take a dollar out my hand when I’m on the internet, but you can sure fraudulently attribute or take away the value of USDC This is coming from someone who saw that “Canadian dollars” are far more programmable than you expect, if you dare to… use the freedom to protest? (Governments don’t like freedom)
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matthewb
@matthewb
don’t tell me that I need to study things with which I’m already familiar. USDC bears no relation to Madoff. who can “pull the rug out” from USDC and how? are you referring to blacklist functionality or what do you mean? pretty naive to assume that centralized stables aren’t going to be compliant. of course they are. doesn’t change the fact that they are backed 1:1 and offer instant finality for borderless remittances with minimal fees.
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