Confession, I still don't understand stablecoins and really don't care to 🤷🏻♀️
Discussion
Everything I know is from #[2] If he understands it, I don’t need to. Lol
I just asked my OG "Bitcoin Master" and he's like nobody understands stablecoins 😂😂
Digital monopoly bucks.
How does it untether from a buck tho if it's stable?? 😂😂
I haven't looked into USDCs balance sheet, but as far as Tether goes, they don't actually back it 1:1 with US Dollars. They're holding commercial paper and treasuries as well. Treasuries are supposed to be stable but they took a big hit last year, went down more than stocks did. That's never happened before in history.
I was looking into all the credit swaps and bonds and treasuries last year but honestly, i don't understand anything 😂😂
Unless you’re planning on trading alts, or live in a third world country and need access to the comparable stability a digital US dollar, you don’t need to.
Ok so it's just for converting and saving where it's more atable than local currency but easier to move than Bitcoin?
Pretty much, yeah. It’s also a lot cheaper/easier on many exchanges to trade into a stablecoin than into actual dollars.