Hyper-inflation, censorship, corporate takeover of all interpersonal transactions, data harvesting, slow processing, fraud, offshore accounts, scams, laundering. The list feels almost endless.
Well, for one thing, you keep mentioning Bitcoin when we're not even talking about Bitcoin, which is extremely weird. Bitcoin is not one of the two things. I hate to be this way but do you even realize what thread you are replying in? This isn't fiat currency versus Bitcoin. It's fiat currency (by proxy) using Blockchain-based ledger versus fiat currency using a traditional ledger...
Sure, I get your point. I don't really consider stablecoins or even most cryptocurrencies true crypto due to human control (which invalidates the value of crypto).
I've watched for over a decade how this forum utterly decimates any actual discussion of crypto (bitcoin) due to willful ignorance or blind naivety. So excuse my excitement when I get a chance to actually discuss its merits or disadvantages.
In this sense, I will agree that stablecoins are just a technological way of obscuring certain mechanisms in how fiat currency is distributed and is basically a derivative instrument that exists outside established regulatory framework (similar to how uber/airbnb operated for a decade until the govt caught up)
