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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote] Crypto has great potential to transform payments. [/quote]

It's great if you like slow transaction times.

Otherwise the appeal is the usual with this sort of thing:  get rich quick(ly) without knowing anything or expending much effort.[/quote]

Not all cryptos have slow transaction times.

Do you not understand the appeal of a decentralized currency?    [/quote]

I believed how people were calling it speculative and volatile but then I started doing my own research. I find it fascinating and useful and plan to allocate 5-10% in the near future. [/quote]

So explain to us how it’s useful and why more than one crypto currency needs to exist.

Look, I have an artist relative who gets paid for their art through crypto because you can set all kinds of rules as to reserve prices and what not so the transaction occurs automatically after the conditions are met.  She uses Etherium which seems to be the crypto used for actual transactions.

She immediately just converts it into cash and only keeps a small amount to handle some day to day aspects of her business.

However, it’s difficult to understand how that makes it an asset class.  I guess it’s no different than getting paid in gold, but gold holds its value because of the belief there is a limited store of gold in the world, while it’s hard to understand how you believe there is a limited supply of an electronic currency.[/quote]

If you believe in crypto, the idea is that the supply is indeed limited (more than gold).

The problem with crypto is that there are two competing trains of thought, and they are opposed to each other.  Some treat crypto as an investment, basically a scarcity play.  This makes crypto extremely volatile.  [b]Others think that it should be a decentralized currency, separate from central bank interference. To use it as a currency, it needs to be stable, which takes the speculative investment angle out of play.[/b]

The real question here is how crypto moves from investment to currency.  I can't envision a world in which crypto keeps rising and the richest and most powerful people in the world are simply the ones lucky enough to get on the crypto train early.  Governments simply won't allow it.[/quote]

The bolded is part of the rationale behind stablecoin. Stablecoin is a form of crypto that facilitates speedy, low-cost money movement but without the volatility that comes with something like bitcoin.

The poster upthread who talked about slow transaction times does not know what they are talking about. The whole point of crypto for money movement is that money can move faster and more seamlessly and at lower cost, particularly across borders. [/quote]

Stablecoin is to exchange crypto. it doesn’t have any other utility. Nobody is going to use it instead of their bank account and credit cards. Unless you are laundering money I guess. [/quote]

A non gov stable coin is pretty suspect. Tether has never been fully audited. The prospect of goosing returns by issuing more stable coins than dollars for backing is too attractive. [/quote]

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