Faster and cheaper transactions that don't get locked up by the whims of a bureaucracy. They continue to operate on non-business days.

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Aurornis 9 hours ago | parent | next [-]

That’s also a downside: When your funds can be transferred away by anyone who happens to acquire the key without triggering any fraud prevention or additional verification checks, losing your entire bank account at 4AM Sunday morning becomes much easier.

	▲	tucnak 8 hours ago \| parent \| next [-]
		This is why people who happen to own significant amount of crypto typically get hardware wallets
	▲	koakuma-chan 9 hours ago \| parent \| prev [-]
		[flagged]

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Ekaros 8 hours ago | parent | prev | next [-]

Is there some magic in redeeming them? And by redeeming I mean going to issuer and getting the face value in seconds?

	▲	direwolf20 4 hours ago \| parent [-]
		You can redeem stablecoins in blocks of a million if you are a registered bank. This is the only way to redeem them. Otherwise you can only trade them.

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irishcoffee 11 hours ago | parent | prev [-]

At the end of the day, for better or worse, the US dollar is backed by the US military. Virtual coins are backed by the greater fool.

What a strange toss-up.

	▲	11 hours ago \| parent \| next [-]
		[deleted]
	▲	anukin 11 hours ago \| parent \| prev \| next [-]
		Usdc is backed by US dollar denominated treasuries for most major issuers.
	▲	Onavo 11 hours ago \| parent \| prev \| next [-]
		But the stable coins are also backed by the US military. All major USD stablecoins have sanctions mechanisms baked into their smart contract. See for yourself the blacklist features https://github.com/circlefin/stablecoin-evm/tree/master/scri...
	▲	zx8080 7 hours ago \| parent \| prev [-]
		> US dollar is backed by the US military. No, it's not. It's not possible to come to the US soldiers with a bunch of US dollars and some demands and get what's demanded in return for the dollars. Only trust of the other market participants backs the US dollar.