"Hey give us your BTC for a handful of shit they will definitely break just as soon as we get a Producer's moment."
A Producer's moment is like from the Mel Brooks film The Producers. At a certain point these scams become profitable to intentionally tank. This is when the devs do a rug pull because it's more profitable to fail than to succeed.
Every stablecoin will experience this. Insuring against it is absolutely a loss waiting to happen. So these scams will absolutely keep wrecking people every time Bitcoin corrects in price from the halving cycle. So every 4 years.
When each stablecoin breaks, the devs just walk away with all YOUR COLLATERAL. And what is that collateral? Your BTC.
That scam is called wrapped Bitcoin.
"Hey give us your BTC for a handful of shit they will definitely break just as soon as we get a Producer's moment."
A Producer's moment is like from the Mel Brooks film The Producers. At a certain point these scams become profitable to intentionally tank. This is when the devs do a rug pull because it's more profitable to fail than to succeed.
Every stablecoin will experience this. Insuring against it is absolutely a loss waiting to happen. So these scams will absolutely keep wrecking people every time Bitcoin corrects in price from the halving cycle. So every 4 years.
When each stablecoin breaks, the devs just walk away with all YOUR COLLATERAL. And what is that collateral? Your BTC.
JUST HOLD BTC ON CHAIN IN SELF CUSTODY