this post was submitted on 12 Oct 2025
916 points (98.4% liked)
memes
17723 readers
1677 users here now
Community rules
1. Be civil
No trolling, bigotry or other insulting / annoying behaviour
2. No politics
This is non-politics community. For political memes please go to !politicalmemes@lemmy.world
3. No recent reposts
Check for reposts when posting a meme, you can only repost after 1 month
4. No bots
No bots without the express approval of the mods or the admins
5. No Spam/Ads/AI Slop
No advertisements or spam. This is an instance rule and the only way to live. We also consider AI slop to be spam in this community and is subject to removal.
A collection of some classic Lemmy memes for your enjoyment
Sister communities
- !tenforward@lemmy.world : Star Trek memes, chat and shitposts
- !lemmyshitpost@lemmy.world : Lemmy Shitposts, anything and everything goes.
- !linuxmemes@lemmy.world : Linux themed memes
- !comicstrips@lemmy.world : for those who love comic stories.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Except when they aren't.
So many examples of stable coins just being a delayed rug-pull that collapses as soon as people pull out their money and it turns out that they aren't backed by anything at all.
At best they work like putting regular money in a bank. At worst they work like putting money in a "bank" but the bank is some shady anonymous dude from the internet with no oversight whatsoever.
You don't trust a bank because it could be mismanaged and greedy bankers could steal your money? Why on earth would you trust an anonymous rando more?
It's like those people who don't trust "big pharma" and instead eat supplements they bought from India via the internet by the kilogram.
Oh yes. Not all stablecoins are good. But the original point was that crypto was dumb because it was volatile.
USDC is backed by banks and is regularly audited. They are not shady or anonymous.
The downside is that it is that stablecoin are not federally insured, although USDC accounts were bailed out when SVB went bust.