Do you have any reasons why USDC is a scam compared to other stables? If it's just "crypto/stables are scams" you're not wrong but it's tough to make money off that without taking on crypto price risk, which I don't do.
mate, every stable coin is sold on the basis of a promise - either that it's backed by "reserves", a term the crypto community actively lies about, conflating deposits with reserves, or that it's peg is algorithmically maintained. you're giving money to capitalists on their word that they're trustworthy enough to deserve sole and exclusive access to the money printer. it's only in finance that people can promise literally no value yet invent capital out of thin air. stable coins are a scam. the only ones who profit are the people at the top of the pyramid.
USDC is a scam.
All stable-coins are scams. Pretty much baked into the premise of the product.
Not compared to Tether.
there can be two scams at the same time.
Do you have any reasons why USDC is a scam compared to other stables? If it's just "crypto/stables are scams" you're not wrong but it's tough to make money off that without taking on crypto price risk, which I don't do.
mate, every stable coin is sold on the basis of a promise - either that it's backed by "reserves", a term the crypto community actively lies about, conflating deposits with reserves, or that it's peg is algorithmically maintained. you're giving money to capitalists on their word that they're trustworthy enough to deserve sole and exclusive access to the money printer. it's only in finance that people can promise literally no value yet invent capital out of thin air. stable coins are a scam. the only ones who profit are the people at the top of the pyramid.
Have a nice day