The problem is paying devs and staff. You have to pay them with dollars or their native currency.
… Yes. These are… the main reasons why this is not easy.
You’re basically either running your own FOREX exhange, which is costly, complicated, expensive and intensive…
Or you are holding a significant chunk of your operating budget in… one, many, all cryptos? Which is extremely financially risky…
Or, you’re paying people directly in crypto, which ironically, probably a vast majority of people and entities that publish on Steam would quit the platform if that was mandated… kinda like how MC+Visa making a unilateral decision forced Steam to ban a bunch of games.
Ok, so we’ve got a single stable coin that’s been fairly stable for 5 years, good start.
Now, how do I know which ones that were around 5 years ago…would be this stable, 5 years back in time?
How do I know this one will be stable for another 5 years?
Is there… some kind of objective analysis I can do here, of all stablecoins, to at least have an idea of this, or am I throwing darts while blindfolded?
Businesses tend to like certainty and predictability when it comes to the fundamentals of their operations.
USDC and USDT have also been stable for quite some time.
USDC might be the only one I’d really trust though. Since it’s backed by Coinbase and Circle, it seems extremely unlikely to break down in any way. Because the powers at be wouldn’t allow it. Too much institutional investment.
They could easily accept crypto. The problem is paying devs and staff. You have to pay them with dollars or their native currency.
If crypto was mass adopted, this is the ultimate answer and would put them out of business anyways.
No, they could not, not easily.
… Yes. These are… the main reasons why this is not easy.
You’re basically either running your own FOREX exhange, which is costly, complicated, expensive and intensive…
Or you are holding a significant chunk of your operating budget in… one, many, all cryptos? Which is extremely financially risky…
Or, you’re paying people directly in crypto, which ironically, probably a vast majority of people and entities that publish on Steam would quit the platform if that was mandated… kinda like how MC+Visa making a unilateral decision forced Steam to ban a bunch of games.
…
You’re doing magical thinking.
Stop that.
Stablecoins already solve that. Not very trustworthy because they could in theory do the same but as a temporary solution should work.
Quick question, which stablecoins have actually been stable for 5 years?
10?
Ok, so we’ve got a single stable coin that’s been fairly stable for 5 years, good start.
Now, how do I know which ones that were around 5 years ago…would be this stable, 5 years back in time?
How do I know this one will be stable for another 5 years?
Is there… some kind of objective analysis I can do here, of all stablecoins, to at least have an idea of this, or am I throwing darts while blindfolded?
Businesses tend to like certainty and predictability when it comes to the fundamentals of their operations.
USDC and USDT have also been stable for quite some time.
USDC might be the only one I’d really trust though. Since it’s backed by Coinbase and Circle, it seems extremely unlikely to break down in any way. Because the powers at be wouldn’t allow it. Too much institutional investment.
Yes, by which ones are peer to peer and which ones are centralized. That’s also why there doesn’t need to be a bunch of them.
Cool, how do I determine that?
Is there some kind of… universal metric, a p2p to centralized scale, that is accurate, transparent, and stays basically the same… for a deacde?
Unfortunately not, it’s like picking the right Unix-like OS in 2003.
Yeah dude convert that shit as soon as you get it, don’t hold it. I’m not a fan but for receiving salary or processing payments in USD it does the job