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Title: Most stablecoins are not censored-resistance and it sucks Post by: john_cm on July 16, 2020, 12:44:40 PM I read somewhere that Tether Freezes Millions of Dollars USDT in 40 Addresses Amid Regulatory Pressure (https://news.bitcoin.com/tether-freezes-millions-of-dollars-usdt-40-addresses/), and it gets me really concerned about the future of crypto payment. Not just USDT, other stablecoins like PAX, BUSD, USDC are all centralized and have the powers to censor or blacklist an address just like banks do to a regular bank account.
The whole development sucks. Stablecoins are leading the future of payment, most people prefer to transact in it due to the stability and fast transaction. However, if it continues in this track, crypto will just be another petty tool used by the government to torment the lives of people. I think its time we start looking elsewhere away from all these shitty stablecoins and probably come up with reliable, decentralized crypto more suitable for the mainstream payment than the ones currently existing. |