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21 sats \ 3 replies \ @jarjarships 7 Dec \ parent \ on: BTC fuck me up bitcoin_beginners
Anyone can print dollars using a smart contract.
Gaslighting is the name of this game. The gas fees that you need to pay to keep this “Stablecoin” in your shipcoin wallet is greater than the Bitcoin fees that you will accumulate in your lifetime. There is nothing stable about that. Besides it is not synonymous to printing dollars as it is called and shall be known as TOKENIZATION of Old World assets and Fiat stupidity.
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0 sats \ 2 replies \ @037447d9ca 7 Dec
What old world asset are you tokenizing when issuing bitcoin-backed stablecoins?
This is not tether, this is not backed by treasury bonds but bitcoin.
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0 sats \ 1 reply \ @DarthCoin 7 Dec
issuing bitcoin-backed stablecoins
THE MOST IDIOTIC THING EVER
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0 sats \ 0 replies \ @037447d9ca 7 Dec
It may be idiotic for the counterparty of the deal: the bearer of such "stablesinking" tokens ( just like it's idiotic to hold dollars) but the issuer is just doing the smart move of going long on bitcoin.
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