Oh no. Not only is it barely a claim on a treasury position, it can be frozen or confiscated unilaterally by the stablecoin issuer. It’s not self custody of anything!
Its not that interesting. The models you're interacting with are text generation models. That is they take the context of what you provide it and tries to predict what the text that would come after would look like.
They aren't search engines and they make stuff up all the time
If we are taking “self custody” to mean literally possession of the USD in a personal digital wallet, I believe it is.
In the same way cash (dollar bills or coins) is a way to take physical custody of money rather than letting the bank control it.
As well as physical custody of precious metals in the form of coins or bars would be considered “self custody” compared to paper gold or silver.
Self custody an token that represents a issued dollar based on a companies treasury, which buys debt issued by the government, how many more degrees of abstraction and third parties do you want?
Oh no. Not only is it barely a claim on a treasury position, it can be frozen or confiscated unilaterally by the stablecoin issuer. It’s not self custody of anything!
They are until Tether or Circle decide to either KYC you or just freeze your funds.
You self custody an IOU, the USD is in a bank. It's not self custody. Open shut.
Also for the love of Homni, this is too simple to go straight to general pre-trained models for answers goodness gracious
Maybe it is simple to you. Maybe it is simple to me.
Interesting that it's not so simple for the models though, I would say.
Its not that interesting. The models you're interacting with are text generation models. That is they take the context of what you provide it and tries to predict what the text that would come after would look like.
They aren't search engines and they make stuff up all the time
Chattie is not a search engine.
But it sure as hell wants you to think of it as one.
Electronically? Probably. But otherwise I don't see much benefit over custody of physical cash.
There is nothing like self-custody of state-controlled currency. The question is a non-sense.
If we are taking “self custody” to mean literally possession of the USD in a personal digital wallet, I believe it is. In the same way cash (dollar bills or coins) is a way to take physical custody of money rather than letting the bank control it. As well as physical custody of precious metals in the form of coins or bars would be considered “self custody” compared to paper gold or silver.
Google AI says no: "If you are looking for full self-custody of USD, you would need to consider other options like holding USD in a bank account " chatcrumb: https://www.google.com/search?ie=UTF-8&client=ms-android-samsung-rvo1&source=android-browser&q=are+stablecoins+like+USDT+%2F+USDC+a+way+to+self+custody+USD%3F
OK Google sure sure ... one small question though on that note ... is USD in a bank account really self custodial though?
#1024998
If dollars in a bank account are self custodial, how can there be such a thing as a bank run or a bank default? 😇🤪
Self custody an token that represents a issued dollar based on a companies treasury, which buys debt issued by the government, how many more degrees of abstraction and third parties do you want?
US savings bonds are. They pay interest and are issued directly by the government.
Chatgpt AI says yes..... with caveats: "If you want digital bearer dollars you fully control—yes, stablecoins can serve that purpose.
But unlike bank deposits, you assume issuer risk. If Circle or Tether fail, insolvency or liquidity issues could jeopardize redemption."
chatcrumb: ... ffs just paste the poll topic in 🙄
OK chattie sure sure .... one small question though on that note. If bank deposits have no risk, why are there bank runs?
I think yes because values are similars.