history of crypto scams:
2010-2015: random altcoins
2015-2016: ethereum
2017-2019: ICOs
2020-2022: defi
2022-2023: NFTs
2023-2024: inscriptions
2024-2025: fake L2s
2025-now: stablecoins
Discussion
Other than outside the US system, I cannot for the life of me understand wanting or using regulated stablecoins in the us.
We already have them, it's called the digital dollar. We have banks and PayPal and Venmo and cash app and so on...wtf is the use case for USDC or even tether in America?
I oppose stablecoins but I suppose in America people who don't want to do KYC but still want digital cash might prefer stablecoins over Paypal, Venmo, or Cash App, all of which do KYC on their users
I think such people should try bitcoin, of course
US based regulated stablecoins also kyc. Coinbase, Crypto.com, Gemini, and on and on all KYC
The exchanges do but there are plenty of wallets that let you receive and send them without KYC. And there are p2p exchanges that do not do KYC where stablecoins can be acquired.
Of couse, in my opinion anyone who's willing to go through all of that trouble just to acquire a stablecoin really ought to consider bitcoin instead.
Have you tried sending a wire with your bank? Lmao.
USDC/T is a step improvement over tardfi, despite it not having permissionless characteristics of btc.
Tardfi also is notorious for not serving millions to tens of millions Americans - read about unbanked and underbanked.
Yep, use wires all the time in my business. But why?
A wire is a direct final settlement, akin more to Bitcoin. Zelle takes a split second. As does PayPal, Cash app, Venmo, and so forth.
So again, how are regulated stablecoins helpful with and by Americans?
You have all the downsides of American banking, plus major issuance risk and centralized control over the block chain.
Unbanked is a myth americans. They are people who chose not to be banked.
94% of Americans adults have a bank account. There are not tens of millions of aduktd in the US that are unable or blocked from getting bank accounts.
If you were though, you can damn well be assured you will be blocked from getting a private and regulated cdbc.
I thought the main use case was gambling/defi
Why not just use dollars for that?
Kyc/aml and other government restrictions on gambling and securities? The facade that it is decentralized?
This is a discussion about wanting and using regulated stablecoins. So yes, KYC aml betting.
Outside of USA we can literally just send money to phone numbers or email addresses or unique usernames and it goes straight to the bank account instantly, no stupid cashapp or Venmo garbage.
It pretty much works the same as USDT but faster.
Honestly it's crazy to me how far behind USA is.
And it's no wonder that things like USDT are becoming so popular in USA when your normal money is so difficult to move around.
Only time I use stabliecoins is when transferring to a different currency.
Like sending my friend in Gaza money, Australian dollars are useless to him, so I send USDT which he swaps for shekels to buy food.
Moving money in the US is hard? How?
Your example is likely not an approved use of a future regulated and KYC stablecoin. While sending money or aid to Gaza is not specifically banned, you may very well could get a call or visit from the feds for funding a Hamas person or similar. Hence why regulated stablecoins solve nothing.
where would you put Craig Wright?
UST (terra/luna stablecoin) had an enormous negative impact in the 2020-2022 era.
yes
All of this was created around Bitcoin, but it is still here, and many of these projects do not exist or will not exist soon.
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