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102 sats \ 2 replies \ @joseph_at_nostr_fan 3 Jul \ on: Bitcoin vs stablecoins showdown looms as GENIUS Act nears bitcoin
Are there any good BTC stablecoins? We need these!
We clearly need this to offset the move to US based stablecoins that are fully tracked by OFAC and many governments.
USDT is convenient, but it is tracked, and can be easily frozen by Tether. USDT is not backed by any kind of crypto currency, just US dollar based assets.
Tether has said they will use Taproot Assets, which is on lightning. But still it's Tether, so I'm not sure how they will handle freezing.
I thought Boardwalk Cash (an ecash wallet) was stable to USD, but I can't find anything that says that, so I may have been wrong.
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I will checkout Boardwalk Cash.
About Tether, and all stable coins that are tied to an asset, especially US Dollars they can all freeze your account, and maybe even take your funds away. This has happened before with USDT, and the rest are not an exception.
That said DAI, an Ethereum based stablecoin is more reliable, and can not be arbitrarily frozen or seized. We need something like DAI but for BTC.
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