PayPal Explores Launch of Own Stablecoin in Crypto Push (bloomberg.com) 37
PayPal is exploring the launch of its own stablecoin as part of its cryptocurrency push, according to the company, which confirmed the development after evidence of the move was discovered inside its iPhone app. From a report: "We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators," Jose Fernandez da Ponte, senior vice president of crypto and digital currencies at PayPal, said in a statement to Bloomberg News. Stablecoins are cryptocurrencies backed and priced by the value of an existing currency or commodity.
Re: YES!!! (Score:2)
This hour, on CryptoDot (Score:5, Insightful)
Does anyone know a tech news site?
Really. I'm genuinely interested.
This site is nothing but Crypto, Covid, and Politics. Is there anything out there that's news for nerds, or stuff that matters? Please? The red site went all SJW in an effort to get "comments" (regardless the fact that they're just flames and knee-jerks), so I'm really at a loss. r/datahoarders? r/cableporn? anything else?
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Not a tech news but which side [allsides.com] (left/middle/right) do you want to read about?
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This site is nothing but Crypto, Covid, and Politics.
Politics have always affected technology (and vise-versa), and the whole global pandemic thing is still a thing, so you're gonna have a hard time escaping those topics.
Cryptocurrency, however, does seem to come up on here far too frequently, and most of it really isn't newsworthy. I'm sure there are other sites where people who want to follow the drama can read all about which exchange(s) got hacked today, which new shitcoins are looking for suckers, and what the value rollercoaster of coin X is doing this
That's because: (Score:5, Informative)
Cryptocurrency, however, does seem to come up on here far too frequently, and most of it really isn't newsworthy.
That's because they clearly have a vested interest [slashdot.org] to constantly mention it (especially since it's gone down in the last while).
Christ, I think this week saw the most article about shitcoins, from Bitcoin all the way to something I had never heard before (ZRX) - of course, that could easily be solved by an actual "crytocurrency" filter on Slashdot, something they've refused to implement (for obvious reasons).
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The Register? (Score:3)
Does anyone know a tech news site?
Really. I'm genuinely interested.
This site is nothing but Crypto, Covid, and Politics. Is there anything out there that's news for nerds, or stuff that matters? Please? The red site went all SJW in an effort to get "comments" (regardless the fact that they're just flames and knee-jerks), so I'm really at a loss. r/datahoarders? r/cableporn? anything else?
https://www.theregister.com/ [theregister.com] /. is US centric, but doesn't seem to be so completely obsessed with cryptocurrency - or at least, it has a specific section for it, which is useful, as you can ignore it.
It's UK centric in the same way
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Right! Good suggestion. I used to go there all the time, but at some point my CPU started getting pegged and my browser froze when I visited their site, like they were mining crypto on each visit. So I stopped going.
I'll have to check it out again. Thanks for the suggestion! :-)
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Yeah, they have been heavy on the ads in the past - so an adblocker or brave is probably the best choice.
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This isn't really about crypto, it's about PayPal flailing around now that eBay has dropped them. eBay was a huge part of their business, so they are desperately looking for ways to make up that lost revenue.
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The entire concept of stablecoins is insane to me (Score:4, Insightful)
It apparently just exists so a few can make a shitload of money on arbitraging. See f.ex. Tether, which magically happens to mint and sell a billion here and there to exchanges every time Bitcoin is about to start sliding in price. You can bet your ass someone's buying tokens at a discount.
If you want to trade tokens for dollars... just, like, use dollars.
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In other words, we are cutting out the middle men, the bankers.
Honey. You are using a banker - just one that happens to be completely unregulated.
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Do you think code is magic somehow? You can wrap them in as many layers as you can but, at the end of the day, these are but tokens issued by a private party.
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I'm not sure I get the idea of making loans in crypto-coins. The biggest problem when making loans is getting the person to pay you back. How does making a contract out of code help you when the person doesn't have enough money to pay you back?
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I'm not sure I get the idea of making loans in crypto-coins. The biggest problem when making loans is getting the person to pay you back. How does making a contract out of code help you when the person doesn't have enough money to pay you back?
The loans I'm familiar with are over-collateralized. So you deposit your $X of BTC and can then borrow say 0.4 * $X of any coin you want, including more BTC. If the value of your collateral drops relative to the value of what you've borrowed, the collateral automatically gets sold to cover the loan.
Trading on margin works the same way -- the code is constantly evaluating your PnL relative to the value of your collateral and liquidating your collateral if necessary.
I remember (Score:1)
Anyone still thinking paypay is good (Score:1)
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Good? Bad? They're the ones with the payment system.
If there were a generally accepted alternative with superior characteristics I might use it, but the only real alternative is Google Pay and it's accepted by many fewer retailers.