You're absolutely right. And yes, the KYC and security requirements would prevent this product from every coming to fruition. But this all just goes to show how crooked the system is. Its only a matter of time until the biggest hater is turned into a believer. I keep seeing episodes of people bullish on the economy and I just can't figure it out. WBD podcard just had that Joe Carlesere on... and he is bullish as fuck. Of course no talk about the US is going to rollover $9T in debt this year. And he seems to think that the US can grow out of this... LOL... Where is the growth? All I see is government spending keep the whole thing from collapsing, and who is going to keep the government from collapsing??? Anyway... good points about stablecoins. But what if the stablecoin is outside the US? What if security laws and KYC can be bypassed. Lets face it, in the US, people don't need Tether. And where people need USDT, they likely don't have huge AML or KYC frameworks. I still think this product is very possible in the right market/jurisdiction.
But didn’t AAPL, NVDA and Berkshire grow their eps and share price through interest income obtained by diluting the hell out of shareholders? Who needs a business when you have apes to fleece?
What you're describing is a private blockchain, far be it from me to judge, but I think it would fail I started a tread recently on Plasma sidechain of the Bitcoin mainnet which is being labled a stablechain or a Layer 1 blockchain for stablecoins, no need for bridging but back to the discussion... stablecoins is just a crypto asset, which means it runs on a blockchain, Ethereum (high network tx fees), Tron, Solana, Binance Smart Chain The blockchain has no geographic location The wallet (holding the private keys) has capabilities to collect geolocation data The implementation would be fairly simple, actually, we've already seen it in El Salvador Chivo wallet available to any El Salvador citizen (centralized, KYC, instant exchange to USDT for vendors if they choose, guaranteed by the El Salvador govt), vs using any bitcoin wallet, Electrum, core, phoenix, et al, mainnet or lightning In this particular case, JPM wallet has KYC and has yields for the JPM stablecoin but if holding the JPM stablecoin in Metamask, Phantom wallet, or any other decentralized wallet, no yields, no KYC Why would any crypto bro use a US bank stablecoin? This is what the PayPal stablecoin looks like, a disaster https://www.coingecko.com/en/coins/paypal-usd
I tend to agree. What I don't get is why is the CEO holding 30 million stocks?? Either do something with the company or sell the stocks and enjoy yourself. At this point the stock is just gonna go down slowly or not so slowly. At this point even buying 8B worth of crypto would be at least doing something.