What good is a cryptocurrency backed by fiat currency? Doesn't that make cryptocurrency even more pointless than it already is, since the original justification behind cryptocurrency was to break...
What good is a cryptocurrency backed by fiat currency? Doesn't that make cryptocurrency even more pointless than it already is, since the original justification behind cryptocurrency was to break the monopoly central banks hold over money?
Basically its to avoid the regulation that comes with working with real USD. You know, the regulation that's there to prevent scams and fraud. :P The original USD-backed coin is Tether and its...
Basically its to avoid the regulation that comes with working with real USD. You know, the regulation that's there to prevent scams and fraud. :P
The original USD-backed coin is Tether and its main purpose is fraud, since it is most likely not actually backed by USD. You can basically print money with a scheme like this.
This feels like a hybrid between a bank and a payment service. You can hold money in there (likely without interest), send it to other USDC or Ethereum holders easily, and presumably purchase...
This feels like a hybrid between a bank and a payment service. You can hold money in there (likely without interest), send it to other USDC or Ethereum holders easily, and presumably purchase cryptocurrencies that are conveniently also available on Coinbase.
In the video linked, the Coinbase app they showed at the end didn't have the USD wallet, just USDC wallet, which leads me to believe they're applying blockchain to their existing USD wallet. There's some discussion in this thread on r/CryptoCurrency where people are saying it could be a PayPal/Venmo alternative, especially for international money transfers. Sounds useful, I guess.
This could have been written as an article on The Onion and fit right in.
Why is New York excluded from using it? Also what's stopping anyone from unsupported regions from using it? Do they track your location? Anonymity is one of the biggest reasons to go with...
Why is New York excluded from using it? Also what's stopping anyone from unsupported regions from using it? Do they track your location? Anonymity is one of the biggest reasons to go with cryptocurrency.
It's Coinbase (which is based in the US). They get your SSN when you sign up, so they (and the IRS) know exactly who you are and where you live. I do have to wonder what happens to any USDC you...
It's Coinbase (which is based in the US). They get your SSN when you sign up, so they (and the IRS) know exactly who you are and where you live.
I do have to wonder what happens to any USDC you own if you move to NY (or any other unsupported region).
What good is a cryptocurrency backed by fiat currency? Doesn't that make cryptocurrency even more pointless than it already is, since the original justification behind cryptocurrency was to break the monopoly central banks hold over money?
Basically its to avoid the regulation that comes with working with real USD. You know, the regulation that's there to prevent scams and fraud. :P
The original USD-backed coin is Tether and its main purpose is fraud, since it is most likely not actually backed by USD. You can basically print money with a scheme like this.
This feels like a hybrid between a bank and a payment service. You can hold money in there (likely without interest), send it to other USDC or Ethereum holders easily, and presumably purchase cryptocurrencies that are conveniently also available on Coinbase.
In the video linked, the Coinbase app they showed at the end didn't have the USD wallet, just USDC wallet, which leads me to believe they're applying blockchain to their existing USD wallet. There's some discussion in this thread on r/CryptoCurrency where people are saying it could be a PayPal/Venmo alternative, especially for international money transfers. Sounds useful, I guess.
This could have been written as an article on The Onion and fit right in.
Why is New York excluded from using it? Also what's stopping anyone from unsupported regions from using it? Do they track your location? Anonymity is one of the biggest reasons to go with cryptocurrency.
New York has strict virtual currency licensing requirements.
It's Coinbase (which is based in the US). They get your SSN when you sign up, so they (and the IRS) know exactly who you are and where you live.
I do have to wonder what happens to any USDC you own if you move to NY (or any other unsupported region).