broadmode on Nostr: Do #stablecoins have the same 'finality' quality as #Bitcoin? If I get defrauded out ...
Do #stablecoins have the same 'finality' quality as #Bitcoin? If I get defrauded out of some dollar coins in my consumer wallet, is there no recourse?
That seems *worse* than a typical checking account, credit card, or PayPal/Venmo... What exactly does holding dollars "on chain" give me?
1. No rights or guarantees against dilution or other forms of confiscation.
2. Subject to even greater surveillance, likely biometric facial scans at account creation.
3. Programmatic rulesets dictating how and when I can spend currency seems imminent.
4. And now I don't even have the consumer safety features that make reversing fraudulent payments easy?
What on earth is the value proposition to end users? Slightly enhanced ability to transfer/spend overseas?
😂
That seems *worse* than a typical checking account, credit card, or PayPal/Venmo... What exactly does holding dollars "on chain" give me?
1. No rights or guarantees against dilution or other forms of confiscation.
2. Subject to even greater surveillance, likely biometric facial scans at account creation.
3. Programmatic rulesets dictating how and when I can spend currency seems imminent.
4. And now I don't even have the consumer safety features that make reversing fraudulent payments easy?
What on earth is the value proposition to end users? Slightly enhanced ability to transfer/spend overseas?
😂