Why? Is so dumb.
The market can stay irrational with various crypto currencies longer than you can stay solvent, so you fight irrationality with your own brand of irrationality.
Exactly, You said my mind. If the game isn’t rational, pretending it is just gets you wrecked. You either adapt to the madness or get priced out by it.
This is even dumber when you consider we’re ~2 years away from the launch of the Digital Euro. As easy and fast to transfer as a cryptocoin with none of the drawbacks. No Blockchain nonsense, backed by banks, transactions can be cancelled and refunded just like any digital transaction, and standardized to all EU banks.
Exactly. Once a Digital Euro is live, most of crypto’s “use case” evaporates. Same speed and convenience, but with consumer protections, reversibility, and real institutional backing.👌
This just sounds like a regular bank transfer to another European bank…input recipient in your self-service online banking and press “transfer”…beep boop done.
What does this “digital” euro do that the existing euro (which is also perfectly working in digital space) solve?
Surveilence
There will be the exact same level of surveillance, it’s still just run by banks so there’s no difference there.
Not really. I was scammed for a few hundreds of euro’s last year. I knew the company, I knew the account but the bank was incapable of reacting because of ‘reasons’. They know where the money went but they can’t follow where it got transferred to. So they can only follow one transaction and after that it’s gone. (Except when you get a court order)
That’s exactly the problem. “Reversible in theory” doesn’t mean much if banks can’t or won’t act fast. Without real-time intervention and enforcement, the protections are mostly on paper, by the time they move, the money’s already gone.👌
For the past 11years I only transact with Crypto and I feel very much comfortable because any mistake I make is traceable and also refundable with zero charge. Almost everyone here in US has adapted to Crypto. The bank is just a reflection of the bad government. 👎
For real, isn’t this allowing them to have much more control over what you have in the bank? Preventing bank runs as they call it(aka blocking withdrawals)
I read almost all the comments here, your words are just exactly my thoughts. 👌
A regular transfer takes at least some hours/days. With digital currency the transfer is instant.
Apart from that, surveillance. There’s a (de)centralized register that shows how much money there is ti be found on any account at any given time.
Exactly 👌👌👌
It’s not that dumb. There’s a market for this, if you want it or not.
And if you’re going to use crypto, it’s better they use a currency that’s not tied to the currency of an unstable country.
Also, the EU is looking to make a digital Euro anyway, which will not be a crypto coin as you know it, but a way to take power away from VISA and Mastercard, which will save European countries for billions each year.
The digital euro is where it’s at! I can’t wait to give billions of dollars worth of middle fingers to American credit card companies.
Well, I was against the idea, but now you got me thininiking.
Another reason to move to the digital euro is to circumvent the censorship on steam and various adult websites that credit card companies are imposing on us.
😮😮😮
What is the use case of stable coins? Fast international money transfer? Or are there other I’m not aware of
That’s basically the core use case: fast, borderless transfers without volatility. Beyond that, they’re mostly used as on/off ramps inside crypto, a parking place during market swings, and for dollar denominated settlement where traditional banking is slow or unavailable.👌
“Fast” international money transfer without value fluctuations. AFAIK, it’s used to send money back overseas without fees and for online casinos. Most stablecoins are based on the USD, which has been dropping due to the actions of a certain person. It seems like a reasonable decision to create an “official” euro stablecoin. The EU has been pushing for an EU payment processor to avoid reliance on US based / connected payment countries, this seems like it might be related to that.
Agreed. A euro-denominated stablecoin makes sense for fast cross-border payments without FX risk, especially if the goal is reducing dependence on USD rails. It fits neatly with the EU’s push for payment sovereignty and an independent financial stack.👌
Money transfers, online payments for whatever, place to park your assets in volatile times in the market, integration into other on-chain investment systems, etc…
Fact. 👌
can they launch it into the sun?
Funny you 😄
