Paypal's new stablecoin has the ability to pause all transfers, freeze addresses to prevent actions and also burn the tokens in the frozen addresses by mbdtf95 Here is where you can freely read the whole source code of Paypal's new stablecoin which is named Paypal USD with ticker (symbol) PYUSD: https://etherscan.deth.net/address/0xe17b8adf8e46b15f3f9ab4bb9e3b6e31db09126... Well everything is transparent and some of the more interesting parts are parts where it can clearly freeze and unfreeze people's accounts. Supply is centrally controlled of course via a Supplycontroller, and probably the biggest thing is that it can freeze accounts and then burn the frozen account's coins. If we get CBDCs you can expect this kind of function in them. Here is that ''interesting'' part of the code which states some of these things if you don't want to look at whole source code: https://i.redd.it/xghg9rt2ergb1.png [–]seb7mad 332 points333 points334 points 1 day ago (125 children) Keep in mind that USDC and USDT can do the exact same things permalink embed save report give award reply [–]Kindly-Wolf6919 305 points306 points307 points 1 day ago (48 children) I'm pretty sure that at least 50% of the people around here do not keep that in mind. permalink embed save parent report give award reply [–]kthebakermanSend moons 56 points57 points58 points 1 day ago (32 children) And at least 50% of that 50% don’t even know what those stablecoins are permalink embed save parent report give award reply [–]conceiv3d-in-lib3rty 16 points17 points18 points 1 day ago (25 children) They’ve heard of them of course, but I think it’s safe to say the majority of people here do not participate in DeFi. permalink embed save parent report give award reply [–]SimbaTheWeaselBronze | QC: ALGO 18 13 points14 points15 points 1 day ago (24 children) Yeah, most aren’t going to want to stress themselves out trying to navigate DeFi permalink embed save parent report give award reply [–]Easy-Medicine-8610Tin 8 points9 points10 points 1 day ago* (7 children) I've navigated this quantum realm you call DeFi. I was a new man when I got out, trying all of the new tools and tricks. I was a poorer man, but new none the less. permalink embed save parent report give award reply [–]Katamari_420Tin | r/WSB 20 2 points3 points4 points 21 hours ago (5 children) What would you recommend someone start with if they wanted to give it a try permalink embed save parent report give award reply [–]Easy-Medicine-8610Tin 1 point2 points3 points 16 hours ago (2 children) I was going through the high yield liquidity pools. It was actually fun to do and it helped me understand a lot but I lost big time. permalink embed save parent report give award reply [–]Katamari_420Tin | r/WSB 20 1 point2 points3 points 3 hours ago (1 child) That’s good to know thanks, I’ve wanted to try to contribute a tiny amount to an lp but my understanding is that you’d need the rewards to outpace your impermanent loss which seems less likely than just holding for the long term unless things happen to work out favorably and I’m not sure how to identify those opportunities permalink embed save parent report give award reply [–]Easy-Medicine-8610Tin 0 points1 point2 points 1 hour ago (0 children) Yeah dont do it for anything except moons! permalink embed save parent report give award reply [–]bleakjHe who buys the highest 1 point2 points3 points 14 hours ago (1 child) Probably to not do it in general, Unless you have a lot of spare time, and better than average luck permalink embed save parent report give award reply [–]Katamari_420Tin | r/WSB 20 0 points1 point2 points 3 hours ago (0 children) That’s sounds like what I had assumed, I appreciate the answer though it’s good to hear from someone that’s familiar permalink embed save parent report give award reply [–]Orangensaft007Tin 1 point2 points3 points 18 hours ago (0 children) You got our?! I am still stuck down here!! permalink embed save parent report give award reply [–]legionticket 1 point2 points3 points 1 day ago (7 children) I know what defi is but I find it hard to even understand permalink embed save parent report give award reply [–]conceiv3d-in-lib3rty 2 points3 points4 points 1 day ago (5 children) Not saying defi doesn’t have its issues becuz it damn sure does, but it’s like all things in life, you need to put the effort into learning it. There’s soo much money to be made in defi, yet most people take the easy way out and think they’re going to make money selling memecoins faster than the next guy. permalink embed save parent report give award reply [–]legionticket 0 points1 point2 points 22 hours ago (0 children) Wow thanks.... I'll have to check it out then. You got any YouTube acct that you know goes straight to point on how DEFI works. Heard of it but I don't have any ideas how it even works. Thank you permalink embed save parent report give award reply [–]Katamari_420Tin | r/WSB 20 0 points1 point2 points 21 hours ago (3 children) Do you mean like providing to liquidity pools or staking? What would you recommend someone look into if they wanted to make money in defi permalink embed save parent report give award reply [–]conceiv3d-in-lib3rty 1 point2 points3 points 19 hours ago (2 children) If you’re not on twitter, you need to be there and active. People in this space who are not on crypto twitter are at a disadvantage, unless you’re just holding bitcoin or something. I do a bit of everything, most of it is based on trading. Right now i’m utilizing flashloans for arbitrage plays. I have a bot that takes a flashloan and performs a double swap between Uniswap V3 and Sushiswap. I also use Unibot-X (fucking amazing, but hasn’t released to public). The mirror sniper (copytrade) allows you to mirror snipes and frontrun buys of chad traders and wallets of interest i’ve been following. I also have positions in several lending protocols (aave, compound) and several positions elsewhere providing liquidity/staking. permalink embed save parent report give award reply [–]Katamari_420Tin | r/WSB 20 0 points1 point2 points 3 hours ago (1 child) Awesome thanks for the detailed response I’m not on Twitter but have heard that a lot of news drops there first so I think I’ll deff get started there, I appreciate the help thanks dude permalink embed save parent report give award reply continue this thread [–]SlowpokesEmporium1 - 2 years account age. 100 - 200 comment karma. 1 point2 points3 points 18 hours ago (0 children) I'm a similar spot, I'm learning alot but it can be very overwhelming permalink embed save parent report give award reply [–]Lillica_Golden_SHIBBronze | BANANO 5 | TraderSubs 13 1 point2 points3 points 1 day ago (3 children) Most people will embrace them just because of convinience permalink embed save parent report give award reply [–]kirtash93The Ash Ketchum of Crypto | Gotta Catch 'Em All 3 points4 points5 points 1 day ago (1 child) Indeed. PayPal has already the base and infrastructure worldwide so if they decide to add it, people will use it without thinking twice. permalink embed save parent report give award reply [–]alinungur2 - 3 years account age. -25 - 25 comment karma. 1 point2 points3 points 21 hours ago (0 children) And them using it will drive crypto adoption! permalink embed save parent report give award reply [–]Squirrel_McNutzBronze | 2 months old | QC: CC 19 0 points1 point2 points 1 day ago (0 children) You mean conevenience? Nice cone Lilica, glad to have another legend! permalink embed save parent report give award reply [–]Every_Hunt_160Platinum | QC: CC 672 | r/SSB 10 0 points1 point2 points 1 day ago (0 children) I think more people here engage with SpaceFi with Moons than DeFi permalink embed save parent report give award reply [–]Pristine_Spinach8718Stargazing 0 points1 point2 points 1 day ago* (1 child) I don’t fully blame them, DeFi should be a bit more user-friendly. permalink embed save parent report give award reply [–]Beechbone22Platinum | QC: CC 203 | r/CMS 6 -1 points0 points1 point 1 day ago (0 children) The UX is a tax on the lazy and the stupid. permalink embed save parent report give award reply [–]ripple_mcgeePlatinum | QC: CC 44 | CRO 19 | ExchSubs 19 0 points1 point2 points 16 hours ago (0 children) The smart contract OP is looking at isn't even the real PYUSD...it's a scam that's already been rugged. permalink embed save parent report give award reply [–]Oldz88RzTin 2 points3 points4 points 1 day ago (1 child) Oh no it’s Scott Steiner Math time. https://youtu.be/3G07NZs2v18 permalink embed save parent report give award reply [–]Every_Hunt_160Platinum | QC: CC 672 | r/SSB 10 2 points3 points4 points 1 day ago (0 children) FIRST, you add 25% of the dumb apes who don't understand USDT, and another 25% who don't understand USDC THEN, You add the 50% and 50% and your chances of understanding Paypal's stablecoin DRASTICALLY GO DOWN! You see cc/sub, y'all Apes have a 101% chance of not understanding Paypal's stablecoin! Because I'm a genetic freak, and I only shoot Moons baby! permalink embed save parent report give award reply [–]Complex-Ad2035Platinum | QC: CC 299, DOGE 55 0 points1 point2 points 1 day ago (0 children) 50% is a very generous number permalink embed save parent report give award reply [–]UncleFatty_Tin 0 points1 point2 points 1 day ago (0 children) The real miracle in crypto is UsdT still being around. permalink embed save parent report give award reply [–]nombresinhombrePlatinum | QC: CC 87 | ADA 22 0 points1 point2 points 1 day ago (0 children) 90% permalink embed save parent report give award reply [–]QuartzPuffyStarTin | Privacy 10 0 points1 point2 points 14 hours ago (0 children) I'm at least 50% and can confirm this. permalink embed save parent report give award reply [–]Pr0MeisterTin 5 points6 points7 points 1 day ago (4 children) That is a very optimistic percentage, my good sir/madam. permalink embed save parent report give award reply [–]meeleen223Moons = Magic Internet Money Vol. 2 5 points6 points7 points 1 day ago (1 child) Try 90% and we can debate permalink embed save parent report give award reply [–]Lillica_Golden_SHIBBronze | BANANO 5 | TraderSubs 13 1 point2 points3 points 1 day ago (0 children) 90% still doesn't look enough permalink embed save parent report give award reply [–]DrakoolyaBronze | QC: CC 16 | SysAdmin 31 0 points1 point2 points 1 day ago (1 child) *Tips Fedora permalink embed save parent report give award reply [–]opensandshutsPlatinum | QC: CC 115 | PersonalFinance 86 0 points1 point2 points 1 day ago (0 children) *1500 moons fall out from under the fedora scattering like Sonic the Hedgehog rings. permalink embed save parent report give award reply [–]opensandshutsPlatinum | QC: CC 115 | PersonalFinance 86 1 point2 points3 points 1 day ago (0 children) Narrator: "They didn't." permalink embed save parent report give award reply [–]nmolanogPlatinum | QC: ETH 18 | MiningSubs 30 0 points1 point2 points 1 day ago (0 children) I was one of the until now. permalink embed save parent report give award reply [–]ohioYax 0 points1 point2 points 1 day ago (0 children) I don't think people understand the difference between decentralized and centralized. They assume crypto rails implies decentralization and it doesn't, and shouldn't. It's fine if there are centralized projects on crypto. There will be so many if we get adoption. permalink embed save parent report give award reply [–]chuloredditPlatinum | QC: CC 126 | BANANO 10 0 points1 point2 points 1 day ago (0 children) The other 60% don't have a mind permalink embed save parent report give award reply [–]IrishDicedPlatinum | QC: CC 31 | SHIB 24 | r/WSB 11 0 points1 point2 points 1 day ago (0 children) I heard 50% statistics are completely wrong 🤔 permalink embed save parent report give award reply [–]CCNightcoreBronze | Science 11 0 points1 point2 points 1 day ago (0 children) I'll admit it. I had no idea usdt and usdc could do that. permalink embed save parent report give award reply [–]Resident-Coyote9339Tin | CC critic 0 points1 point2 points 1 day ago (0 children) I didn’t even know. Thanks for the information. permalink embed save parent report give award reply [–]staffellSilver | QC: CC 122 | r/CMS 16 | Politics 12 0 points1 point2 points 16 hours ago (0 children) To keep it in mind would suggest they knew it in the first place... permalink embed save parent report give award reply [–]bleakjHe who buys the highest 0 points1 point2 points 14 hours ago (0 children) I don't even have 50% of a mind permalink embed save parent report give award reply [–]CONSOLE_LOAD_LETTERPlatinum | QC: CC 562 44 points45 points46 points 1 day ago (14 children) Here is proof. USDT: 918 banned addresses USDC: 174 banned addresses Saying that though, PayPal has a truly terrible track record and reputation with respect to freezing/banning accounts for arbitrary reasons and also often mistakenly. So while people should be aware USDT and USDC are not completely trustless, they should also be aware that PayPal is probably going to be utilizing their controls much more often. permalink embed save parent report give award reply [–]Lillica_Golden_SHIBBronze | BANANO 5 | TraderSubs 13 20 points21 points22 points 1 day ago (11 children) PayPal is such a shitty company with shitty policies overall. permalink embed save parent report give award reply [–]telechefTin 4 points5 points6 points 1 day ago (1 child) I wouldn't even trust them with my fiat. Staying well clear of this one. permalink embed save parent report give award reply [–]Squirrel_McNutzBronze | 2 months old | QC: CC 19 2 points3 points4 points 1 day ago (0 children) Same here - PayPal can be pretty damn shady. Also the fees are fucked permalink embed save parent report give award reply [–]CONSOLE_LOAD_LETTERPlatinum | QC: CC 562 3 points4 points5 points 1 day ago (6 children) For real. Actually, dealing with PayPal headaches is one of the reasons why I started looking into crypto in the first place many years back. permalink embed save parent report give award reply [–]opensandshutsPlatinum | QC: CC 115 | PersonalFinance 86 2 points3 points4 points 1 day ago (0 children) head on, apply directly to the forehead. permalink embed save parent report give award reply [–]lordofming-risesSilver | QC: CC 468 | CRO 70 | Superstonk 237 1 point2 points3 points 1 day ago (0 children) Circle is full now... permalink embed save parent report give award reply [–]lotofpic 2 points3 points4 points 1 day ago (2 children) I have been using Paypal for many years and never had a problem so far! permalink embed save parent report give award reply [–]james2020chrisTin | Politics 89 1 point2 points3 points 19 hours ago (1 child) Just wait until you have a problem, and find out how impossible it is to get it fixed. permalink embed save parent report give award reply [–]Fantastic_Foot_8568Tin 0 points1 point2 points 13 hours ago (0 children) I had some bitch try reverse a payment 11 months after she clearly received the brand new iPhone 14 pro still sealed in plastic, money had been sitting in my account since when got notification my account was froze. Contacted PayPal directly, as bad as I wanted to confront the con artist. Think it took 2 days before account was unfroze and funds available again and never had to interact with that POS tryna get a brand new iPhone free on my tab. Was slightly worried since had good amount in savings earning 4.3%apy but took correct steps and PayPal was on top of it. permalink embed save parent report give award reply [–]Every_Hunt_160Platinum | QC: CC 672 | r/SSB 10 0 points1 point2 points 1 day ago (0 children) Now it comes full circle with PayPal trying to take over the crypto space lmao permalink embed save parent report give award reply [–]Maximum_Sign2804 1 point2 points3 points 1 day ago (0 children) Totally agree on that! permalink embed save parent report give award reply [–]RayesFrostTin 1 point2 points3 points 1 day ago (0 children) Luckily I don’t use PayPal for anything. FUCK PAYPAL permalink embed save parent report give award reply [–]visual_overflowTin 0 points1 point2 points 1 day ago (0 children) TIL. Also wow this dude had $20M frozen https://etherscan.io/tx/0x2675aaf5db84f9f966c431ff82f2173d3251020b11b4939b49... That scammer must be furious lmao permalink embed save parent report give award reply [–]DeeyennayPlatinum | QC: CC 670 15 points16 points17 points 1 day ago (3 children) They have to for regulatory purposes. No government is going to be OK with a completely trustless decentralized currency. permalink embed save parent report give award reply [–]nmolanogPlatinum | QC: ETH 18 | MiningSubs 30 9 points10 points11 points 1 day ago (2 children) El Salvador wants a word with you permalink embed save parent report give award reply [–]Mothrahlurker 0 points1 point2 points 21 hours ago (0 children) El Salvador has a lot of control through their Chivo wallet which they want everyone to use. permalink embed save parent report give award reply [–]corn-potageBronze | 5 months old 0 points1 point2 points 5 hours ago (0 children) They're using custodial, KYC Lightning Network service for Bitcoin, because non-custodial LN has horrible UX. Strike? Also custodial and KYCd. permalink embed save parent report give award reply [–]Disastrous_Cobbler13 4 points5 points6 points 1 day ago (9 children) Are there any stablecoins that cannot? permalink embed save parent report give award reply [–]HoldOnDearLifeSilver | QC: BTC 18 | ADA 58 | Politics 10 1 point2 points3 points 1 day ago (2 children) iUSD and Djed come to mind. permalink embed save parent report give award reply [–]kogmaaBronze | QC: CC 18 | ADA 298 1 point2 points3 points 1 day ago (0 children) Yup. Not much liquidity yet unfortunately. They’d deserve more love. On the other hand this clearly shows how also algorithmic stable coins can cope with such circumstances. Since the Luna debacle they don’t have the best reputation in this sub, but that only showed the logic flaws for that one stable. The design of DJED is based on the older SigmaUSD of Ergo and that in turn has been around quite a while and proved to be stable even in extreme conditions. So there’s a point for trustless, algorithmic stables, though they are not without their own issues. For example the backing coin of DJED doesn’t seem to quite have the right risk/reward ratio yet; it’s also tied to issuer Coti for minting. Anyway I’d like to see such projects evolve and thrive, rather than some centralized company coin as heartening as that may be as far as adoption is concerned. Edit: typos, additional info permalink embed save parent report give award reply [–]Beechbone22Platinum | QC: CC 203 | r/CMS 6 0 points1 point2 points 1 day ago (0 children) Really, those are the stables you think of? Not for example DAI, FRAX or LUSD? permalink embed save parent report give award reply [+][deleted] 1 day ago (3 children) [deleted] [–]DMCarter_Platinum | QC: CC 39 1 point2 points3 points 1 day ago (0 children) DAI itself can't, but some of its reserves can since its reserves have USDC. permalink embed save report give award reply [–]opensandshutsPlatinum | QC: CC 115 | PersonalFinance 86 0 points1 point2 points 1 day ago (0 children) I thought dai all can permalink embed save report give award reply [–]jekpopulous2Silver | QC: CC 49, SOL 22, ETH 38 | NANO 19 | TraderSubs 18 1 point2 points3 points 1 day ago (0 children) Most CDPs (DAI, MIM, crvUSD, etc…) use non-upgradable contracts and the tokens can’t be frozen. permalink embed save parent report give award reply [–]GBR2021Bronze | QC: CC 24 1 point2 points3 points 23 hours ago (0 children) DAI and FRAX permalink embed save parent report give award reply [–]marsangelo 6 points7 points8 points 1 day ago (7 children) Yeah i saw this too. Unfortunately commonly used code between stablecoins permalink embed save parent report give award reply [–]Honeynel 8 points9 points10 points 1 day ago (5 children) And CBDCs will be much, much worse. permalink embed save parent report give award reply [–]Lillica_Golden_SHIBBronze | BANANO 5 | TraderSubs 13 3 points4 points5 points 1 day ago (4 children) And sadly most people have literally no idea how bad they will be. permalink embed save parent report give award reply [–]CryptizardAcademic Cryptographer 0 points1 point2 points 1 day ago (3 children) ...because they don't exist yet. permalink embed save parent report give award reply [–]NateNate60Platinum | QC: BTC 21 | LegalAdvice 206 0 points1 point2 points 16 hours ago (2 children) This is not correct. I'm currently in China and I already saw some posters advertising the Digital Yuan stuck around Shenzhen. permalink embed save parent report give award reply [–]CryptizardAcademic Cryptographer 0 points1 point2 points 15 hours ago (1 child) There doesn't seem to be any technical information, in English at least, about how it works. Curious to know if it is as bad as people expected. permalink embed save parent report give award reply [–]NateNate60Platinum | QC: BTC 21 | LegalAdvice 206 0 points1 point2 points 4 hours ago (0 children) It's basically a Government-run PayPal. People already widely use mobile payment in China so it is really nothing special. The Government can already order payment processors to deliver customer data on demand and suspend accounts so this new system is viewed as an improvement by most Chinese people because it's just the same as what they have now, but Government-run. Technology-wise, it is nothing terribly sophisticated. You scan a QR code to pay, others scan your QR code to pay you. It is a centralised system. permalink embed save parent report give award reply [–]ripple_mcgeePlatinum | QC: CC 44 | CRO 19 | ExchSubs 19 0 points1 point2 points 1 day ago (0 children) Link to contract OP posted is a scam and code is common for scam tokens...unless 3,000,000 PYUSD is currently worth 0.06 ETH, it's a scam token and anyone buying is or has already been rugged. Example trade on uniswap https://etherscan.io/tx/0xbd0f1d6f4f9cc79e9ab788a6a1b210acf2d6f54bba0c218a90... permalink embed save parent report give award reply [–]Reeferologist-Tin 2 points3 points4 points 1 day ago (2 children) Wasn’t Tether involved in some pretty shady shit a couple of years ago? I can’t remember exactly what it was, but made a mental note to stay away from USDT. permalink embed save parent report give award reply [–]CleynnTin 3 points4 points5 points 1 day ago (0 children) They print billions out of thin air periodically, then go with the good ol'trust me we have backing funds for every penny. permalink embed save parent report give award reply [–]wayfarer8888Tin 0 points1 point2 points 18 hours ago (0 children) Their financial audits were not trustworthy and they issued debt from affiliates, basically lending to themselves. In a high interest environment a stable coin issuer should be doing very well because the dollars they hold return 4-5%, which more than covers any costs. It should be an extremely lucrative business: you issue 1 USD coin which gets swapped for some other crypto which could make you money (lending, farming, increase in value), but still hold the underlying 1 US$ which bears interest for you. Technically you still control the Fiat and USDT, USDC etc. are only IOUs. It's brilliant. permalink embed save parent report give award reply [–]BearishVsBullish 4 points5 points6 points 1 day ago (3 children) Amongst the reasons why I stay as far away from them as I can permalink embed save parent report give award reply [–]swap_catz 5 points6 points7 points 1 day ago (2 children) Ohm. Rai. Nuon. Lots of flex tokens that are not bank deposit wrapper coins. The problem is crypto people don't want that. They want a lottery ticket and riches in fiat. permalink embed save parent report give award reply [–]Lillica_Golden_SHIBBronze | BANANO 5 | TraderSubs 13 2 points3 points4 points 1 day ago (0 children) True, and it is fair to say most of us joined crypto with this exact mentality permalink embed save parent report give award reply [–]BearishVsBullish 0 points1 point2 points 23 hours ago (0 children) I stick to the basic chains and mcaps, can you clarify what you meant by flex tokens? permalink embed save parent report give award reply [–]kingh242Tin 1 point2 points3 points 1 day ago (0 children) I was hoping this comment would float to the top. permalink embed save parent report give award reply [–]GBR2021Bronze | QC: CC 24 1 point2 points3 points 23 hours ago (0 children) No worries, redditors surely know about trustless stables such as DAI and FRAX, right? Right? permalink embed save parent report give award reply [–]fiscallyCompete 1 point2 points3 points 22 hours ago (0 children) Yeah these are the best ever. permalink embed save parent report give award reply [–]BaecchusPlatinum | QC: CC 541 | r/WSB 11 3 points4 points5 points 1 day ago (0 children) Yeah we don't need to go looking for PayPal. Two biggest stablecoins are just as bad. permalink embed save parent report give award reply [–]pb__ 2 points3 points4 points 1 day ago (0 children) Not only can, but do. permalink embed save parent report give award reply [–]BrainTotalitarianism 0 points1 point2 points 1 day ago (0 children) Good to know, can Atom do the same? permalink embed save parent report give award reply [–]Odysseus_Lannister 0 points1 point2 points 1 day ago (0 children) Big oof permalink embed save parent report give award reply [–]Transgroomers99 -1 points0 points1 point 1 day ago (0 children) They can freeze accounts but they cannot burn the coins in them. permalink embed save parent report give award reply [–]Gr8WallofChinatownTin | Economics 11 -1 points0 points1 point 18 hours ago (1 child) And ethereum permalink embed save parent report give award reply [–]seb7mad -1 points0 points1 point 18 hours ago (0 children) That’s not true. ERC-20s can do that because they’re smart contracts that can have said functionality coded in. ETH is the native token of Ethereum and most L2s, and is not programmable permalink embed save parent report give award reply [–]HoldOnDearLifeSilver | QC: BTC 18 | ADA 58 | Politics 10 -2 points-1 points0 points 1 day ago (1 child) Oh really? You got a source on that? I did not know that and I don't want to trust a random redditor. permalink embed save parent report give award reply [–]Jesta23Tin | r/WSB 43 0 points1 point2 points 1 day ago (0 children) He literally gave you a link to the code. permalink embed save parent report give award reply [–]-chaotic_randomness- 0 points1 point2 points 1 day ago (0 children) Now that I know I will keep in mind. Thanks for the advice! permalink embed save parent report give award reply [–]WiseSilverWolfTin | CRO 27 | ExchSubs 27 0 points1 point2 points 1 day ago (0 children) Keep in mind that USDC and USDT can do the exact same things Not on all blockchains though, I tried to get Tether to recover some funds for me on KCC the other day and they told me they couldn't because they don't issue USDT on KCC. permalink embed save parent report give award reply [–]cyberfugue 0 points1 point2 points 1 day ago (0 children) I admit that I didn’t realize that. Definitely something that everyone needs to keep in mind. permalink embed save parent report give award reply [–]WargizmoPlatinum | QC: CC 1529 | x1x1 0 points1 point2 points 1 day ago (0 children) As can PayPal with your fiat already permalink embed save parent report give award reply [–]DrShakezGold | QC: CC 30 0 points1 point2 points 1 day ago (0 children) Good point, but that just makes me hate all of them. permalink embed save parent report give award reply [–]borg_6s 0 points1 point2 points 1 day ago (0 children) So this is basically ShitUSD(TM) permalink embed save parent report give award reply [–]dankeykang4200 0 points1 point2 points 1 day ago (0 children) People still gonna fuck with it though cuz they don't know better permalink embed save parent report give award reply [–]Real-Technician831Tin | 5 months old 0 points1 point2 points 1 day ago (0 children) Yeah, but this is PayPal, they are known to be very unfair and basically impose to appeal to. Stealing from customers is a profit item for them. permalink embed save parent report give award reply [–]Flying_KoeksisterCrypto Enthusiast | x3 x1x1 0 points1 point2 points 1 day ago (0 children) After enough hacks I think people might even want this one day. Of course it does go against the spirit of decentralisation and trustlessness permalink embed save parent report give award reply [–]AraneckTin 0 points1 point2 points 1 day ago (0 children) A trully decentralized stable coin permalink embed save parent report give award reply [–]To_The_M000NTin 0 points1 point2 points 1 day ago (0 children) I had no idea they could do this. Does most of the stable coins have the same functions? As in freezing and burning tokens permalink embed save parent report give award reply [–]beyourownsunshineGuess I’ll just stick to BTC 0 points1 point2 points 23 hours ago (0 children) This is the kind of information people should include in the OP. permalink embed save parent report give award reply [–]K4kkaTin 0 points1 point2 points 21 hours ago (0 children) thank you good sir. i just came here to say the same. and now i am gone again till there is a small rally permalink embed save parent report give award reply [–]dirpydipBronze 0 points1 point2 points 19 hours ago (0 children) Hate to see more centralized stable coins making their way into this space... permalink embed save parent report give award reply [–]FalloutAssasin 0 points1 point2 points 16 hours ago (0 children) The compliant version of crypto. I guess it's a necessary evil for real mass adoption 😔 permalink embed save parent report give award reply [–]AdZealousideal3461 0 points1 point2 points 15 hours ago (0 children) Yea thats right permalink embed save parent report give award reply [–]Agile_Ad_7061 0 points1 point2 points 11 hours ago (0 children) Exactly🙂 permalink embed save parent report give award reply [–]Ur_mothers_keeper 0 points1 point2 points 11 hours ago (0 children) Dude why would anyone use anything other than DAI. permalink embed save parent report give award reply [–]xxXTECHxx 0 points1 point2 points 9 hours ago (0 children) Yes. But the little actual difference is they're not known to froze and delete axcourns they don't like. At least. permalink embed save parent report give award reply [–]ominous_anenomeccmoons dev 81 points82 points83 points 1 day ago (17 children) Given PayPal’s ability to freeze your fiat funds, I don’t see why anyone would expect them to be different with their own crypto “Adoption” at the price of centralization I guess permalink embed save report give award reply [–]Kindly-Wolf6919 23 points24 points25 points 1 day ago (4 children) Funds are SAFU until it's not. permalink embed save parent report give award reply [–]Lillica_Golden_SHIBBronze | BANANO 5 | TraderSubs 13 7 points8 points9 points 1 day ago (1 child) It is as if PayPal was launching their own CBDC permalink embed save parent report give award reply [–]Squirrel_McNutzBronze | 2 months old | QC: CC 19 1 point2 points3 points 1 day ago (0 children) They’re probably hoping to become that tbh permalink embed save parent report give award reply [–]opensandshutsPlatinum | QC: CC 115 | PersonalFinance 86 2 points3 points4 points 1 day ago (0 children) SAFU is a little to close to Snafu for me when it comes to freezing funds permalink embed save parent report give award reply [–]darwinlovestreesMay your gains be sick and your Lambo be soon 0 points1 point2 points 10 hours ago (0 children) SafePal to the moon! 🚀🚀🚀 permalink embed save parent report give award reply [–]forceworksTin 9 points10 points11 points 1 day ago (1 child) Trust and PayPal are not words that go together permalink embed save parent report give award reply [–]deathbyfish13Free Range Moon Farmer 2 points3 points4 points 1 day ago (0 children) They're basically an oxymoron permalink embed save parent report give award reply [–]zenhodl 4 points5 points6 points 1 day ago (0 children) I want adoption but I'd rather stay in the foster home over going with PayPal permalink embed save parent report give award reply [–]ASingleGuitarString 1 point2 points3 points 1 day ago (0 children) There is no other way that crypto can be mass adopted. Even now a lot of crypto is centralized. permalink embed save parent report give award reply [–]Pr0MeisterTin 0 points1 point2 points 1 day ago (0 children) It was always going to be like that. Widespread adoption means large, established entities offering crypto services, and they are unlikely to offer fully decentralized options. permalink embed save parent report give award reply [–]opensandshutsPlatinum | QC: CC 115 | PersonalFinance 86 0 points1 point2 points 1 day ago (0 children) PayPal: "pull over, that ass is too fiat" permalink embed save parent report give award reply [–]Slippytoe[🍰] 0 points1 point2 points 1 day ago (0 children) It makes it easier for entry to the game I suppose. I suspect most will educate themselves and move on to a more decentralised holding shortly after. permalink embed save parent report give award reply [–]dirpydipBronze 0 points1 point2 points 19 hours ago (0 children) I rather the slow and steady adoption without all of these centralized corrupt approaches permalink embed save parent report give award reply [–]paulosdubSilver | QC: CC 127, BTC 52, CM 36 | ADA 35 | TraderSubs 36 0 points1 point2 points 18 hours ago (0 children) 100% this. I can’t think of any possible reason i’d want to leave my money on a crypto controlled by paypal. Staking rewards maybe? Who knows. Would need to be massive benefits though permalink embed save parent report give award reply [–]ArcosimSilver | QC: CC 51 | VET 22 | Technology 39 0 points1 point2 points 15 hours ago (0 children) PayPal also freezes your account "just in case" many times, and then you have to spend an entire week talking with their support to get your assets unfrozen. If you experienced that with PayPal in the past you'll understand why I'm not planning to use anything controlled. permalink embed save parent report give award reply [–]Berodur 36 points37 points38 points 1 day ago (4 children) I think stable coins shouldn't really be thought of as crypto in the typical sense in terms of decentralization. They are basically just fiat dollars but with the ability to interact with block chains more easily. permalink embed save report give award reply [–]WubbywubPlatinum | QC: CC 96 | ADA 7 -5 points-4 points-3 points 1 day ago* (1 child) but that is the very definition of crypto edit: seems like people dont understand the nuance permalink embed save parent report give award reply [–]AlphaDolby 0 points1 point2 points 18 hours ago (0 children) Nuts you got so many downvotes. What do they think they are doing? They are not even transacting crypto with value. They are transacting at best with fiat which used to be transacted with value before the closing of the gold window. So funny, man, so funny. permalink embed save parent report give award reply [–]BuydipstothemoonPlatinum | QC: CC 32 | ADA 18 0 points1 point2 points 1 day ago (0 children) Agree. In some countries it's good for tax evasion. That's all. permalink embed save parent report give award reply [–]Stiltzkinn 0 points1 point2 points 13 hours ago (0 children) Stablecoins should not be used to hodl. permalink embed save parent report give award reply [–]robbie5643Platinum | QC: CC 77 41 points42 points43 points 1 day ago (12 children) Everyone hates things like this till someone scams/honey pots them, then it’s “what do you mean you can’t recover my coins!!”. Stablecoins are for quick transactions anyways, you can get rid of most of the risk here by just not holding them lol. Edit: Not that this isn’t a good call out, just something that isn’t inherently bad. permalink embed save report give award reply [–]Avoidlol 5 points6 points7 points 1 day ago (6 children) Sure, but what's the point of this stablecoin then? Just seems like another asset they have even more power over. permalink embed save parent report give award reply [–]DrakoolyaBronze | QC: CC 16 | SysAdmin 31 9 points10 points11 points 1 day ago (0 children) The primary purpose of the stablecoin is to provide a 1:1 to a currency of your choice. You are dreaming if you think any legitimate regulated organization will ever offer a truly decentralized offering. It's like asking facebook to be censorship free. permalink embed save parent report give award reply [–]SpeedoCheetoTin | Superstonk 120 0 points1 point2 points 1 day ago (0 children) IDK how the same policies applying to their stable as fiat is a power move permalink embed save parent report give award reply [–]wayfarer8888Tin 0 points1 point2 points 18 hours ago (2 children) It's bankruptcy protected, with pyUSD you are holding an asset that is yours because of regulation. USDC and USDT are only IOUs, when SHTF you line up as a creditor. permalink embed save parent report give award reply [–]Avoidlol 0 points1 point2 points 18 hours ago (1 child) that is yours because of regulation. I'm sorry, but isn't that the kind of words that helped cause the mess which crypto aims to fix? You'd still need to trust a single entity, it's not about laws and regulation, as we've seen time and time again, those who make the laws; do not follow them. permalink embed save parent report give award reply [–]wayfarer8888Tin -1 points0 points1 point 17 hours ago (0 children) Short answer: No. permalink embed save parent report give award reply [–]Crunchious1 1 point2 points3 points 1 day ago (0 children) You mean people only like things when it benefits them? Shocker! permalink embed save parent report give award reply [–]Kindly-Wolf6919 0 points1 point2 points 1 day ago (0 children) Once you're not a bad actor then this shouldn't be particularly concerning. Still, no one would want to know their money can be taken away in a heartbeat. permalink embed save parent report give award reply [–]zenhodl -1 points0 points1 point 1 day ago (1 child) What if PayPal or a government agency they no doubt feed data to decides that something you said couldn't be tolerated and they imposed a fine, but didn't tell you, only for you to find out about it when you deposit some money to make a "quick transaction" and a withdrawal is triggered? PayPal already toyed with the idea of taking people's money out of their accounts if they had controversial opinions only to walk it back after public outrage permalink embed save parent report give award reply [–]robbie5643Platinum | QC: CC 77 3 points4 points5 points 1 day ago (0 children) I mean they did walk it back after public outrage, so that’s a good thing. They already tried that and failed miserably. The crypto market would be even more outraged about that, and they would immediately start a massive run on their stablecoin. I highly doubt it would survive even the first documented case of that, it would be crypto suicide. permalink embed save parent report give award reply [–]NotReallyYouPunk 0 points1 point2 points 23 hours ago (0 children) True true. Crypto can't be reversed. Crypto bad bad bad. permalink embed save parent report give award reply [–]uniquecuriousmeTin 2 points3 points4 points 1 day ago (2 children) Paypal is no one's friend. No, just no! permalink embed save report give award reply [–]ThorKruger117 2 points3 points4 points 1 day ago (1 child) What’s bad about PayPal? permalink embed save parent report give award reply [–]uniquecuriousmeTin 1 point2 points3 points 1 day ago (0 children) I've watched Paypal destroy merchants, hold their funds without good reason for months, cancel good orders with no intervention from the merchant, and there is no direct actionable support. Paypal is not FDIC insured but that is moot as we are talking about crypto. I and many others do not trust them, They have proven to be heavy handed, permalink embed save parent report give award reply [–]MbuguBronze 2 points3 points4 points 1 day ago (0 children) Seems to me a necessary evil. permalink embed save report give award reply [–]wee_dLow Crypto Activity | 6 months old 2 points3 points4 points 1 day ago (0 children) Make 1984 fiction again. permalink embed save report give award reply [–]PessoaHeteronimoTin 2 points3 points4 points 1 day ago (0 children) A preview of what CBDC Will be permalink embed save report give award reply [–]hellosamaira 2 points3 points4 points 1 day ago (0 children) I will never trust PayPal. permalink embed save report give award reply [–]eetaylogPlatinum | QC: CC 748 | VET 7 2 points3 points4 points 23 hours ago (0 children) Fuck Paypal. permalink embed save report give award reply [–]BrocoliAssassin 2 points3 points4 points 14 hours ago (0 children) This was to be expected with Paypal. permalink embed save report give award reply [–]tambaybtc 5 points6 points7 points 1 day ago (3 children) PayPal has created a CBDC stable where that can exactly do what Countries are planning to do with CBDC 🤨 permalink embed save report give award reply [–]lorenzomofoTin | CC critic 0 points1 point2 points 1 day ago (0 children) Still waiting to see if PayPal charges money to do transfers using their stablecoin. I’m pretty sure real CBDCs owned by countries won’t charge to do transfers otherwise they would be dead on arrival. permalink embed save parent report give award reply [–]TheNewl0gicTin 0 points1 point2 points 19 hours ago (0 children) CBDCs If countries force the use of theirs CBDC that will fuck crypto and things like Paypal is doing, right ? permalink embed save parent report give award reply [–]-raiwist 4 points5 points6 points 1 day ago (2 children) they want to be involved with cryptocurrency but want to strip it of its main selling points, genius permalink embed save report give award reply [–]InsaneMcFriesPlatinum | QC: CC 256 0 points1 point2 points 1 day ago (0 children) The makings of a Centralised Institutional Digital Currency, an awful love child of the CBDC permalink embed save parent report give award reply [–]ThrowawayHoper 0 points1 point2 points 1 day ago (0 children) Sounds like late stage capitalism tbh permalink embed save parent report give award reply [–]zoomercoomer9000 5 points6 points7 points 1 day ago* (0 children) Yeah, I'm going to assume NYDFS requires stablecoins to have a freeze function for standard AML compliance, as part of their BitLicense program. I doubt an American company like Paypal would be permitted to issue the stablecoin otherwise. permalink embed save report give award reply [–]Popular_District9072Tin | CRO 9 1 point2 points3 points 1 day ago (1 child) I remember reading mixed feedback about crypto purchases through PayPal - in mass people weren't too happy, so I'm going to pass, but will keep an eye on its development permalink embed save report give award reply [–]AdZealousideal3461 0 points1 point2 points 15 hours ago (0 children) Ideally, mee too just spectating it and waiting for riggt maturity! permalink embed save parent report give award reply [–]GrimeWizardPlatinum | QC: CC 193 1 point2 points3 points 1 day ago (1 child) This is what adoption by centralized authorities will always look like. Nobody should expect any different permalink embed save report give award reply [–]AdZealousideal3461 0 points1 point2 points 15 hours ago (0 children) Exactly! Thats what name even implies isnt it! permalink embed save parent report give award reply [–]RuneW007Tin 1 point2 points3 points 1 day ago (1 child) Didn’t PayPal already do this with normal funds, I don’t trust them and I won’t use them. permalink embed save report give award reply [–]AdZealousideal3461 0 points1 point2 points 15 hours ago (0 children) They are perfect regular bankers! Less suitable for Crypto! permalink embed save parent report give award reply [–]zippy1979 1 point2 points3 points 1 day ago (1 child) Just like regular Paypal then permalink embed save report give award reply [–]AdZealousideal3461 0 points1 point2 points 15 hours ago (0 children) Yeap no difference and not suitable to crypto world! permalink embed save parent report give award reply [–]Jester-Black-9999 1 point2 points3 points 1 day ago (0 children) This company can do all of these things with every paypal account now, with USD. What is the point in even owning a stable coin, especially tied to a company with a horrendous track record of managing customer funds. permalink embed save report give award reply [–]LilDandyy 1 point2 points3 points 1 day ago (0 children) And GL reaching Paypal costumer service if they freeze your account... permalink embed save report give award reply [–]silveycorp 1 point2 points3 points 1 day ago* (0 children) PayPal was at the forefront of the trucker bank freeze in Canada. And then they added the user agreement portion about cancelling your account based on your social actions. Would you expect them not to do this with a stable? I love crypto, I believe in it as a tool of freedom, but unfortunately stables only leave us “tethered” and chained to the old financial system we want to escape. I’m no Bitcoin maxi but it seems clear it’s the only currency real freedom can be achieved with. The “alt coins” are the replacement for banks and BTC is the currency that makes it happen. permalink embed save report give award reply [–]SirArthurPTPlatinum 1 point2 points3 points 1 day ago (0 children) A company that can freeze your account based upon your personal opinions, what can go wrong? permalink embed save report give award reply [–]tyedyegregTin 1 point2 points3 points 1 day ago (0 children) How could you have not seen that coming? This is just the blueprint for for the US CDBC, which will do the same and way more damaging things to privacy. permalink embed save report give award reply [–]RunsOnJava98 1 point2 points3 points 1 day ago (0 children) Damn stablecoins are a lot more sus than I realized. I haven’t used them yet, but I better read up on them a bit more. permalink embed save report give award reply [–]yondercodePlatinum | QC: CC 16 | Buttcoin 8 | Economics 19 1 point2 points3 points 1 day ago (1 child) Fuck this dumb ass fear around PayPal USD Literally USDC and USDT can do the same and you will be glad that the function fucking exists when a protocol get exploited or you got scammed lmaooo Unless you're not a criminal literally what's your fear? Even if you are just quickly swap to ETH and clean your ass in Tornado or something permalink embed save report give award reply [–]AutoModerator[M] 0 points1 point2 points 1 day ago (0 children) Hello yondercode. It looks like you might have found a new scam? If so, please report this scam by crossposting to r/CryptoScams, r/CryptoScamReport, or visiting scam-alert.io. For tips on how to avoid scams, click here. I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns. permalink embed save parent report give award reply [–]Sideboard81Platinum | QC: CC 76 1 point2 points3 points 1 day ago (1 child) I stopped using PayPal a long time ago, and will never go back. permalink embed save report give award reply [–]AdZealousideal3461 0 points1 point2 points 15 hours ago (0 children) I use for regular txns but big no for Crypto Bro. Their support is real sucker and dont give shit to genuine customers. So i would expect more ahit to Crypto from them permalink embed save parent report give award reply [–]partymslPlatinum | QC: CC 702 | r/WSB 16 1 point2 points3 points 1 day ago (0 children) This is to the surprise of ABSOLUTELY no one. permalink embed save report give award reply [–]Background-Ad-2102Tin 2 points3 points4 points 1 day ago (2 children) Paypal has done a lot of shady stuff as a company, so this does not surprise me. I’ll stick with BTC and hodl. permalink embed save report give award reply [–]bananafannaphofannaTin 0 points1 point2 points 1 day ago (0 children) Me too permalink embed save parent report give award reply [–]twholstPlatinum | QC: CC 58 1 point2 points3 points 1 day ago (0 children) I will never trust this company to do anything truly beneficial to end users in this space. Everything will be way too centralized for that to ever happen. permalink embed save report give award reply [–]defiCosmos 1 point2 points3 points 1 day ago (1 child) They can already do all that without a stablecoin. I've got money frozen on PayPal from 2009 that I will never get back. They just took it, have not used them since. PayPal sucks anyway. permalink embed save report give award reply [–]Shiratori-3 1 point2 points3 points 1 day ago (0 children) I personally went a bit sour on Paypal after they pulled the WikiLeaks stuff https://www.wired.com/2010/12/paypal-wikileaks/ permalink embed save parent report give award reply [–]Renanr_c 1 point2 points3 points 1 day ago (0 children) They are not a decentralised entity, so i would believe they need the control over all this.. so its kind of expected. permalink embed save report give award reply [–]Probably_notabotTin | CC critic 1 point2 points3 points 1 day ago (1 child) Damn, they really went for full control on their first roll out huh? permalink embed save report give award reply [–]AdZealousideal3461 1 point2 points3 points 15 hours ago (0 children) Exactly! Daamn scary cex! permalink embed save parent report give award reply [–]JonartiTin 1 point2 points3 points 1 day ago (0 children) My stable coin is BTC and ETH permalink embed save report give award reply [–]QptimisedTin 1 point2 points3 points 1 day ago (2 children) For something as centralized as this stablecoin, it's weird that they have their whole source code openly available. Or is this normal? permalink embed save report give award reply [–]samer109 2 points3 points4 points 1 day ago (0 children) A CBDC was recently released by a country's bank (forgot which one maybe brasil?) and we could also see their source code.. permalink embed save parent report give award reply [–]leaflavaplanetmossBronze | Technology 12 2 points3 points4 points 1 day ago* (0 children) PYUSD is a Solidity contract on Ethereum. Once the smart contract is published on the blockchain, the contract's bytecode (which is what is generated when you compile the original Solidity source and publish it to the blockchain) is publicly available because its the bytecode is what the Ethereum Virtual Machine runs when the contract's functions are called by a transaction. In many cases, the source can be decompiled back into a close approximation of the original Solidity source code, e.g. https://etherscan.io/bytecode-decompiler. Most projects will make their actual contract source code public on Github and / or on block explorers however, which is what PayPal did. You can tell because the source code for the contract address is not only available on Etherscan but it's also verified, which means that PayPal uploaded the source to Etherscan and the source code, when compiled, matches the compiled bytecode for that address on the blockchain: https://etherscan.io/address/0xe17b8adf8e46b15f3f9ab4bb9e3b6e31db09126e#code permalink embed save parent report give award reply [–]WeaselJCDTin | Superstonk 25 1 point2 points3 points 1 day ago (1 child) These guys (the system) wil get crypto adopted and then pull this bullshit and people will say, "f*ck, I should have gone with BTC or <insert next best altcoin> instead" and this is how we get mass adoption mark my words! permalink embed save report give award reply [–]Most_Being_4002 0 points1 point2 points 1 day ago (0 children) I believe you,also i think CBDC can help to mass adoption,too.its little paradox,but possible. permalink embed save parent report give award reply [–]ToshiSat 1 point2 points3 points 1 day ago (1 child) I knew PayPal would try to fuck people over, it was obvious Their stock is going down since the last years, I hope they burn tbh We need to make them irrelevant, crypto has the power to do that. Real crypto permalink embed save report give award reply [–]GeolinearI wished for this 0 points1 point2 points 1 day ago (0 children) Don’t forget about eBay getting propped up here too. You’re right this is just a coupon with fine print. permalink embed save parent report give award reply [–]NuewimPlatinum | QC: CC 613, ETH 31 | TraderSubs 31 0 points1 point2 points 1 day ago (8 children) Paypal executives read 1984 and they were like: "What a great idea if we make stablecoin based on this book". permalink embed save report give award reply [–]genjitenjiSilver | QC: CC 320 | NANO 91 0 points1 point2 points 1 day ago (2 children) Shout out to Big Brother (please don’t disappear me) permalink embed save parent report give award reply [–]ShadowKnight324 0 points1 point2 points 1 day ago (1 child) Don't worry, you will be found after commiting suicide with 2 bullets in the back of the head permalink embed save parent report give award reply [–]deathbyfish13Free Range Moon Farmer 0 points1 point2 points 1 day ago (0 children) So tragic he had time to fire two shots at himself from behind permalink embed save parent report give award reply [–]partymslPlatinum | QC: CC 702 | r/WSB 16 -1 points0 points1 point 1 day ago (1 child) And Sam Altman (WLD founder) recommended them that book. permalink embed save parent report give award reply [–]zenhodl 0 points1 point2 points 1 day ago (0 children) Recommended? He wrote the forward.. permalink embed save parent report give award reply [–]GeolinearI wished for this 0 points1 point2 points 1 day ago (0 children) It won’t be the last permalink embed save parent report give award reply [–]The_Chorizo_BanditSilver | QC: CC 846, XRP 41 | TRX 28 0 points1 point2 points 1 day ago (0 children) PayPal execs were like “How can we take our shitty, thieving platform and make it work for crypto?” permalink embed save parent report give award reply [–]thijsfcSilver | QC: CC 295 | NANO 35 0 points1 point2 points 1 day ago (1 child) This is the main reason that decentralisation is so important in the crypto sphere. Don’t want entities to control your funds. permalink embed save report give award reply [–]Probably_notabotTin | CC critic 0 points1 point2 points 1 day ago (0 children) Use exchanges to exchange, then gtfo permalink embed save parent report give award reply [–]NewOCLibraryReddit 0 points1 point2 points 1 day ago (1 child) fake.. not paypal permalink embed save report give award reply [–]ripple_mcgeePlatinum | QC: CC 44 | CRO 19 | ExchSubs 19 0 points1 point2 points 1 day ago (0 children) This. The link OP posted is clearly to a fake PYUSD scam. What blows my mind is how many people didn't know/bother to check. permalink embed save parent report give award reply [–]StonedRexPlatinum | QC: CC 181 0 points1 point2 points 1 day ago (0 children) In one hand I like it because it will make it a lot more difficult for scammers, in other I'm worried that they have this much control over our assets. permalink embed save report give award reply [–]Roberto9410Platinum | QC: CC 831 0 points1 point2 points 1 day ago (0 children) PayPal hasn’t exactly been a champion of financial self sovereignty in the past - they didn’t allow people to withdraw the crypto they bought through them after all permalink embed save report give award reply [–]DaemonTargaryen34 0 points1 point2 points 1 day ago (1 child) Lmao centralization at its peak permalink embed save report give award reply [–]AdZealousideal3461 0 points1 point2 points 15 hours ago (0 children) Exactly! On one hand Cex are important for huge LP and other hand it has so much power to jeopardize whole dex concept! permalink embed save parent report give award reply [–]ACE415_Tin 0 points1 point2 points 1 day ago (2 children) Hopefully nobody falls for this bs permalink embed save report give award reply [–]ThrowawayHoper 0 points1 point2 points 1 day ago (0 children) Oh you know they will man, it’s the circle of life at this point unfortunately permalink embed save parent report give award reply [–]stephenph 0 points1 point2 points 1 day ago (0 children) It is all in the marketing.... they will make it all nice and pretty on the outside till they hook you into the ecosystem... Then BAM!!! slam the door shut (and you haven't even pulled your fingers out yet....) Most people think it can never happen to them, that their ideas and speech aren't THAT non mainstream. You hear it all the time on the paypall forums.... "My non profit has a balance of 50K but not PayPal is holding all my funds and accusing me of something (they wont even tell me what)...." permalink embed save parent report give award reply [–]The-Francois8Silver|QC:CC928,BTC178,ETH39|CelsiusNet.50|ExchSubs42 0 points1 point2 points 1 day ago (0 children) The more you learn, the more you start to become a bitcoin maxi. permalink embed save report give award reply [–]fiscallyCompete 0 points1 point2 points 22 hours ago (0 children) PayPal is now becoming beast. permalink embed save report give award reply [–]Antartica_To_GNZ11 -1 points0 points1 point 1 day ago* (0 children) "... Paypal's new stablecoin has the ability to pause all transfers, freeze addresses to prevent actions and also burn the tokens in the frozen addresses." - Great. Gonna use this with eBay straight away. permalink embed save report give award reply [–]Antartica_To_GNZ11 -1 points0 points1 point 1 day ago (0 children) permalink embed save report give award reply [–]FootballBat69Platinum | QC: CC 207 -1 points0 points1 point 1 day ago (0 children) A little bit of robinhood vibes. permalink embed save report give award reply [–]UpperVoltTin -1 points0 points1 point 22 hours ago (0 children) Just as USDT and USDC. I dont see why the fuzz.. permalink embed save report give award reply [–]wylie2020Platinum | QC: DOGE 27 -1 points0 points1 point 22 hours ago (0 children) Y'all trying to turn a positive for crypto into a negitive by emphasizing what all stable coins have the ability to do. SMH permalink embed save report give award reply [–]SecondLovattTin -1 points0 points1 point 22 hours ago (0 children) To be honest, as much as I hate PayPal, I'd rather stablecoins be heavily regulated and have a semblance of control. They are to be used as an adoption / way to get into the crypto space with ease. I have never understood why anyone would keep any of these stablecoins outside of them having a good APR. permalink embed save report give award reply [–]bvandepolBanned 0 points1 point2 points 1 day ago (1 child) 1 🚩, 2 🚩 and that makes 3 🚩 permalink embed save report give award reply [–]Probably_notabotTin | CC critic 0 points1 point2 points 1 day ago (0 children) Damn. This comment looks a lot like my ex. permalink embed save parent report give award reply [–]ClownishOyster 0 points1 point2 points 1 day ago (1 child) This happens so often with these web2 companies creating tokens, they need to have their control and have no regard for anything else. Good catch and i'm sure news will spread fast to stay away permalink embed save report give award reply [–]GeolinearI wished for this 0 points1 point2 points 1 day ago (0 children) Wtf. They left clawback and freeze on? permalink embed save report give award reply [–]risingcrow1o1 0 points1 point2 points 1 day ago (0 children) Elon: “I don’t have any plans of making any crypto” PayPal: “Hold my beer” permalink embed save report give award reply [–]feline99 0 points1 point2 points 1 day ago (0 children) Stuff like this will just keep creating more and more BTC maxis. Isn’t one of the main points of cryptocurrencies decentralization/no central authority? permalink embed save report give award reply [–]The_Chorizo_BanditSilver | QC: CC 846, XRP 41 | TRX 28 0 points1 point2 points 1 day ago (0 children) So… you’re saying I should invest? /s permalink embed save report give award reply [–]RCALovah 0 points1 point2 points 1 day ago (0 children) Just looking at the code. With all the freeze, burn or wipe on there. I don't even need to understand it all, I'm not putting my money on it anymore permalink embed save report give award reply [–]OriginalIllustrator5 0 points1 point2 points 1 day ago (0 children) Sounds great and like nothing bad will happen permalink embed save report give award reply [–]Final-Ad-6694Tin 0 points1 point2 points 1 day ago (0 children) if it'll make you money, this sub wont care permalink embed save report give award reply [–]sam2142Low Crypto Activity 0 points1 point2 points 1 day ago (0 children) CBDC is in the corner taking notes. permalink embed save report give award reply [–]LiveDirtyEatCleanTin | QC: BTC 20 | CC critic 0 points1 point2 points 1 day ago (0 children) So its just paypal permalink embed save report give award reply [–]Home_ImprovmentTin 0 points1 point2 points 1 day ago (0 children) Is this good or bad? permalink embed save report give award reply [–]FattestLion 0 points1 point2 points 1 day ago (0 children) A preview of CBDCs lol permalink embed save report give award reply [–]JeffreyDollarzTin 0 points1 point2 points 1 day ago (0 children) So it's basically a CBDC pilot... permalink embed save report give award reply [–]BearishVsBullish 0 points1 point2 points 1 day ago (0 children) Seems just like another coin to stay away from then I understand the value that stables play in the whole ecosystem but man oh man, do I dread those things permalink embed save report give award reply [–]Fourplyer80Tin 0 points1 point2 points 1 day ago (0 children) Sounds about right! permalink embed save report give award reply [–]OtherwiseTrya 0 points1 point2 points 1 day ago (0 children) I wouldn't expect anything different from them. or any other large companies. This is the norm now. permalink embed save report give award reply [–]OutTopTin | 3 months old 0 points1 point2 points 1 day ago (0 children) So does all other stable coins permalink embed save report give award reply [–]elysiansaurusPlatinum | QC: CC 20 | CAKE 6 | r/WSB 286 0 points1 point2 points 1 day ago (0 children) While this is shitty, like stated below USDC and USDT can do the same things. It's not like Paypal is extra shitty, it's basically par for the course for stablecoins. permalink embed save report give award reply [–]DankOceanTin 0 points1 point2 points 1 day ago (0 children) It’s more or less a CBDC just like USDC or USDT permalink embed save report give award reply [–]mashiro1496Platinum | QC: CC 74 0 points1 point2 points 1 day ago (0 children) Well isn't that bad? permalink embed save report give award reply [–]Citizen_KanoBronze | QC: CC 16 | r/WSB 22 0 points1 point2 points 1 day ago (0 children) I'd trust SBF over PayPal. Pure scum permalink embed save report give award reply [–]ibrawTin 0 points1 point2 points 1 day ago (0 children) I wouldn't trust PayPal to hold fiat, let alone crypto. permalink embed save report give award reply [–]Alarming_Associate47Tin 0 points1 point2 points 1 day ago (0 children) I feel like this has the potential to be a huge step for adoption. This basically means that any store that accepts PayPal payments now also (indirectly) accepts Bitcoin, Ethereum and Litecoin payments. Sure it comes at the cost of centralization but it‘d be the smoothest way of finally spending my crypto on something. permalink embed save report give award reply [–]fanriverDesire of one's dreams 0 points1 point2 points 1 day ago (0 children) This Stablecoin Will Lower Adoption permalink embed save report give award reply [–]Beandog095Tin | PennyStocks 16 0 points1 point2 points 1 day ago (0 children) tbh their stable coin is probably backed as well. permalink embed save report give award reply [–]rulesforrebels 0 points1 point2 points 1 day ago (0 children) Of course it can its paypal. Better not wrong-headed or they'll tske $2500 from you in crypto permalink embed save report give award reply [–]Sir_Lagz_AlotPlatinum | QC: Coinbase 35 | CelsiusNet. 10 | ExchSubs 46 0 points1 point2 points 1 day ago (0 children) You guys know the other top stablecoins do the exact same thing right? permalink embed save report give award reply [–]dopef123Silver | QC: SOL 139, CC 109, ETH 61 | CAKE 41 | TraderSubs 56 0 points1 point2 points 1 day ago (0 children) Honestly I think it’s a good thing to have options. If some stablecoins can be clawed back in fraud that’s good. Also having untouchable decentralized stablecoins is good. I don’t think we need every token to be decentralized permalink embed save report give award reply [–]nonameattachedforme 0 points1 point2 points 1 day ago (0 children) Pretty much as expected, harvesting big data is the sad future of crypto. permalink embed save report give award reply [–]SuprBestFriendsPlatinum | QC: CC 26 0 points1 point2 points 1 day ago (0 children) This is why most people should stay away from stables. Use dia if you can but I understand it’s not feasible for everyone. If your new stay away from stables. If your on chain use on chain assets eg. ether. It’s the best way to hodl funds on chain. Real world assets need a lot of work till they become stable and viable. permalink embed save report give award reply [–]IcyLingonberry5007Bronze | QC: ALGO 20 0 points1 point2 points 1 day ago (0 children) Freesze enabled.. Me no like that. permalink embed save report give award reply [–]RealCFourTin | CRO 8 0 points1 point2 points 1 day ago (0 children) PayPal being a house hold name well probably get my mom talking about crypto again permalink embed save report give award reply [–]0x1a3c3e7Platinum | QC: BTC 28 0 points1 point2 points 1 day ago (0 children) What's the sales pitch? lol permalink embed save report give award reply [–]lordchickenburgerMoon and bitcoin are me love 0 points1 point2 points 1 day ago (0 children) yeah we see where this is going. any coin controlled by any centralized party should be avoided at all costs permalink embed save report give award reply [–]BigTex254Platinum | QC: CC 74 | CRO 6 0 points1 point2 points 1 day ago (0 children) I honestly didn’t even know people still used PayPal? permalink embed save report give award reply [–]OnelinersandbluesPlatinum | QC: ETH 120 | TraderSubs 120 0 points1 point2 points 1 day ago (0 children) Good publicity but we know better permalink embed save report give award reply [–]FolsgaardSETin | Politics 17 0 points1 point2 points 1 day ago* (0 children) Wait what does this have to do with Ethereum? IS this an actual coin with a coin demon and wallet or just some shitty token, someone made 1 million of to trade like a NFT and call it "a coin". Tokens are not coins, really wish this concept never polluted the ecosystem and various blockchains. permalink embed save report give award reply [–]Rick-CV2Tin 0 points1 point2 points 1 day ago (0 children) PayPal are literally the last company you want to be able to delete our money lmao permalink embed save report give award reply [–]satoshi_oscar_wilde 0 points1 point2 points 1 day ago (0 children) Interesting name... PISSD you say? Oh PYUSD... permalink embed save report give award reply [–]Maleficent_Sound_919Tin 0 points1 point2 points 1 day ago (0 children) So PayPal is also on the CBDC agenda, this is why Bitcoin is important! permalink embed save report give award reply [–]elpikachar 0 points1 point2 points 1 day ago (0 children) Just another clone… seen a meme about adding headaches on bird app too permalink embed save report give award reply [–]Tribalboi69Bronze 0 points1 point2 points 1 day ago (0 children) This stablecoin is backed by paxos btw. permalink embed save report give award reply [–]GabeDefBronze | Politics 41 0 points1 point2 points 1 day ago (0 children) So we’re okay with centralized, again? permalink embed save report give award reply [–]-0-O-Silver | QC: CC 42, BTC 25, ETH 25 | ADA 28 | Politics 39 0 points1 point2 points 1 day ago (0 children) Compiler Version v0.4.24 lmao wtf And SupplyController address isn't even a contract- it's just a regular wallet. That means ONE DEVICE controlled by ONE PERSON can mint or burn as many PYUSD as they want. permalink embed save report give award reply [–]ObsidianramBeware the JubJub & the Jaberwock 0 points1 point2 points 1 day ago (0 children) Sounds like a European version of a stable coin - like what they did with smart contracts and demanding they be "reversible" - which is asinine and defeats the whole purpose of a safe, secure transaction... I'm sure there are bigger plans for this thing - they just want to get this accepted first before they add more "features" onto it...they won't show their whole hand at once... permalink embed save report give award reply [–]ohjeezhiTin 0 points1 point2 points 1 day ago (0 children) Duh. They are a company under United States law permalink embed save report give award reply [–]x_lincoln_x4 score and 7 coins ago... 0 points1 point2 points 1 day ago (0 children) Grab 'em by the PYUSD! /sorry permalink embed save report give award reply [–]Redditlovinglover 0 points1 point2 points 1 day ago (0 children) Nothing new OP. USDT and USDC can perform same function too. permalink embed save report give award reply [–]SpeedoCheetoTin | Superstonk 120 0 points1 point2 points 1 day ago (0 children) Wouldn't the most reasonable presumption be that this is so they can protect you from fraud/scams/whatever and keep in line with their current policies on fiat transations? permalink embed save report give award reply [–]evilisticsSilver | QC: CC 38, ATOM 23 | r/CMS 13 | TraderSubs 10 0 points1 point2 points 1 day ago (3 children) lets not pretend anyone is surprised here. permalink embed save report give award reply [–]xMagoxBronze | QC: CC 21 0 points1 point2 points 1 day ago (2 children) specially since they can do the same with your FIAT permalink embed save parent report give award reply [–]evilisticsSilver | QC: CC 38, ATOM 23 | r/CMS 13 | TraderSubs 10 0 points1 point2 points 1 day ago (1 child) Yeah. This is why money doesn't stay in my PayPal account for long. permalink embed save parent report give award reply [–]xMagoxBronze | QC: CC 21 0 points1 point2 points 1 day ago (0 children) For good or worse, I can't even leave it there if I want it (to avoid fees), in my country they are obligated to send it to your bank account at the end of the day (charging me a fee in the process) permalink embed save parent report give award reply [–]omghag18 0 points1 point2 points 1 day ago (0 children) Now that's kind of a dk move permalink embed save report give award reply [–]raconteur7Tin 0 points1 point2 points 1 day ago (0 children) Who the eff would sign up for Dictator Coin like this? Bunch of little dictators controlling your life permalink embed save report give award reply [–]SeatedDruidHe who slings the shit ;) 0 points1 point2 points 1 day ago (0 children) ah a stablecoin except from Paypal permalink embed save report give award reply [–]Real-Technician831Tin | 5 months old 0 points1 point2 points 1 day ago (0 children) Ehh, I think I will prefer SWIFT transfers for fiat things. Other stables can do the same, but PayPal has well known history on customer abuse. permalink embed save report give award reply [–]BN_BoiPlatinum | QC: CC 101 | NEO 10 0 points1 point2 points 1 day ago (0 children) Nice, how to make no one use it. Who even use paypal nowadays, after all the bad things and scams you find about it... permalink embed save report give award reply [–]lotofpic 0 points1 point2 points 1 day ago (0 children) All stable coins have the same functions. permalink embed save report give award reply [–]Dramatic_Patience_41Tin 0 points1 point2 points 1 day ago (0 children) is more stablecoin better? permalink embed save report give award reply [–]Mariahausfrau 0 points1 point2 points 1 day ago (1 child) That sounds like north korean currency.Step by step to NWO. permalink embed save report give award reply [–]mildmanneredhatterTin 0 points1 point2 points 22 hours ago (0 children) What's so bad about a nwo? Peace and prosperity enforced by shadowy figures rather than constant war and famine? permalink embed save parent report give award reply [–]lucashcy_97Tin 0 points1 point2 points 1 day ago (0 children) Is other exchange going to list this coin ? permalink embed save report give award reply [–]DeeDot11In it for the tech.. 0 points1 point2 points 1 day ago (0 children) Centralised shite again then. Built on ethereum L2 which is wild tho, the amount of money they control vis their users. Ethereum is becoming the money layer of the Internet permalink embed save report give award reply [–]Sixtricks90Tin 0 points1 point2 points 1 day ago (0 children) The roof, the roof, the roof is on fire permalink embed save report give award reply [–]jadequarter 0 points1 point2 points 1 day ago (0 children) just another tether permalink embed save report give award reply [–]Slippytoe[🍰] 0 points1 point2 points 1 day ago (0 children) I mean on one hand, it’s great exposure for Crypto. On the other hand, might as well use a bank if PayPal have this sort of jurisdiction. permalink embed save report give award reply [–]PsLJdoggSilver | QC: Coinbase 53, CC 32 | CRO 13 | ExchSubs 66 0 points1 point2 points 1 day ago (0 children) Virtually every stablecoin has these functions, this is not unique permalink embed save report give award reply [–]simplicity92Bronze 0 points1 point2 points 1 day ago (0 children) Im pretty sure they do it to stop hackers or exploiters. But its a good backdoor permalink embed save report give award reply [–]Apprehensive_Baker80Platinum | QC: CC 27 | SHIB 8 0 points1 point2 points 1 day ago (0 children) Don’t see anything wrong there. Bear in mind that a centralized currency needs to have this freezing mechanisms. If you don’t like it just use decentralized alternatives permalink embed save report give award reply [–]throwaway1177171728Platinum | QC: CC 37 | CelsiusNet. 6 | r/WSB 14 0 points1 point2 points 1 day ago (0 children) So does every stablecoin. You can't have a stablecoin without a central authority. permalink embed save report give award reply [–]idigholes 0 points1 point2 points 1 day ago (0 children) Sounds more like PayEnemy to me permalink embed save report give award reply [–]Impossible_Soup_1932Platinum | QC: CC 286 | ADA 8 0 points1 point2 points 1 day ago (0 children) Companies can never release a stablecoin that can't be censored. Governments wouldn't allow it, if these stables can be used by terrorists, blackmailers etc. permalink embed save report give award reply [–]wytherlanejazzProbability Mage 0 points1 point2 points 1 day ago (0 children) Centralisation in action permalink embed save report give award reply [–]83nnoBronze 0 points1 point2 points 1 day ago (0 children) De-Decentralised permalink embed save report give award reply [–]slasula 0 points1 point2 points 1 day ago (0 children) 2spooky4me permalink embed save report give award reply [–]NoNumbersNumberTin | 1 month old 0 points1 point2 points 1 day ago (0 children) PayPal's CBDC 🫠 permalink embed save report give award reply [–]customtoggleSilver | QC: BTC 584, CC 159, DOGE 52 | r/SSB 16 | Economy 14 0 points1 point2 points 1 day ago (0 children) Saylor's an idiot
inb4: he graduated from x university and he's a billionaire how many times have you graduated and how many billions do you have
permalink embed save report give award reply [–]p3ekSilver | QC: CC 142, ALGO 36 | VET 15 | PCgaming 161 0 points1 point2 points 23 hours ago (0 children) The idea of decentralization was what started crypto , but it's really not about that anymore. Crypto is just another tool that purely depends on who is using it permalink embed save report give award reply [–]Relevant-Brain-733 0 points1 point2 points 23 hours ago (0 children) Just another bank then! permalink embed save report give award reply [–]token-eaterPlatinum | QC: CC 30 | NANO 8 | r/WSB 13 0 points1 point2 points 23 hours ago (0 children) I only keep DAI. permalink embed save report give award reply [–]KevinBannaTin 0 points1 point2 points 23 hours ago (0 children) with these function. hackers were not able to damage the crypto world so hard during the past years. permalink embed save report give award reply [–]Trylks 0 points1 point2 points 23 hours ago (0 children) It's like testing a CBDC in Ethereum. permalink embed save report give award reply [–]BradVetSilver | QC: CC 487 | VET 71 0 points1 point2 points 23 hours ago (0 children) Sounds about right, does anyone really think corporations or gov are going to create a decentralised blockchain project, never. I dont trust a single one permalink embed save report give award reply [–]leechergod 0 points1 point2 points 23 hours ago (0 children) Dai and USDD stabelcoins do not have freeze options. But USDD is controlled by JUstin Sun. I prefer Justin Sun over Paypall permalink embed save report give award reply [–]shenanigans_101 0 points1 point2 points 23 hours ago (0 children) Well should we have expected any different? It is the norms around this big company stablecoins permalink embed save report give award reply [–]zeyar_lynxPermabanned 0 points1 point2 points 22 hours ago (0 children) Another CBDC ? no thanks. permalink embed save report give award reply [–]SYD-LIS 0 points1 point2 points 22 hours ago (0 children) PayPals Customer Support suxs dick permalink embed save report give award reply [–]Krupda42Tin | 4 months old 0 points1 point2 points 22 hours ago (0 children) This isn't even the most significant part If you want to use PYUSD, you have to complete KYC This is what's coming for all stablecoins (if the provision in the military spending bill is kept) permalink embed save report give award reply [–]DB_aBronze | QC: ALGO 21 0 points1 point2 points 22 hours ago (1 child) Another shitcoin has been born. And people will praise and use this, but will find anything on the coin they hate permalink embed save report give award reply [–]Oheson 0 points1 point2 points 19 hours ago (0 children) A USD backed stable coin from a US regulated entity who has 450 million users is not a "shitcoin". It is called adoption. permalink embed save parent report give award reply [–]nossrednaretepTin 0 points1 point2 points 22 hours ago (0 children) Is this good or bad? permalink embed save report give award reply [–]brobbio 0 points1 point2 points 21 hours ago (0 children) Nice. Way to go crypto! permalink embed save report give award reply [–]BasedxgodxTin 0 points1 point2 points 21 hours ago (0 children) Still kind of cool though. permalink embed save report give award reply [–]mintytoTin 0 points1 point2 points 21 hours ago (0 children) At least it has transparency now. permalink embed save report give award reply [–]TehAlex94Tin 0 points1 point2 points 21 hours ago (0 children) Why would anyone trust PayPal when before a couple months they could fine you if they didn’t agree with your opinion online ? permalink embed save report give award reply [–]LewmiWARNING: 5 - 6 years account age. 34 - 75 comment karma. 0 points1 point2 points 21 hours ago (1 child) Don’t know why anyone would buy into this, exact opposite of the main reasons behind crypto permalink embed save report give award reply [–]Oheson 0 points1 point2 points 19 hours ago (0 children) Right. The main reason behind crypto is to be scammed, rug pulled, and lose your money when a scammer goes bankrupt and escapes to Dubai. Ah the good old days... permalink embed save parent report give award reply [–]billw1zz3 - 4 years account age. 100 - 200 comment karma. 0 points1 point2 points 20 hours ago (0 children) I think most stable coins hold this ability, it’s the centralised part of decentralisation. Companies find it hard to let go of control. Be good if a stable coin came along that was decentralised, permalink embed save report give award reply [–]LewmiWARNING: 5 - 6 years account age. 34 - 75 comment karma. 0 points1 point2 points 20 hours ago (0 children) PayPal has a history littered with seizing user funds. It’s was a huge issue with ebayers et permalink embed save report give award reply [–]JojorentPlatinum | QC: CC 31 0 points1 point2 points 20 hours ago (0 children) More like PhuckedPal permalink embed save report give award reply [–]Oheson 0 points1 point2 points 19 hours ago* (0 children) What did you expect? Paypal, a US regulated entity on the Stock Exchange to use Monero or something else to help facilitate crime? This is a Ethereum use case app. This is very good for overall adoption of decentralized protocols. That does not mean that every app using the protocol needs to be decentralized. The opposite of having regulated entities in crypto is FTX, Celsius. Voyager, BlockFi, Genesis, and all the other contagions in the space. Not to mention the constant rug pulls and criminals that dominate crypto in general. Even if you didn't use those, you were affected by them. permalink embed save report give award reply [–]WyrdNine 0 points1 point2 points 19 hours ago (1 child) The answer to question of what kind of crypto your government wants, not the people. permalink embed save report give award reply [–]Oheson -1 points0 points1 point 19 hours ago* (0 children) Bitcoin does not care about governments or anything else. BTC is a decentralized, immutable store of value with a fixed supply that uses blockchain tech. PYUSD is a centralized, stable coin from a major Fintech company on ETH. ETH is a decentralized layer 1 blockchain that acts as a global operating system. Using "crypto" as a general statement makes not sense. If you don't know the difference between BTC, ETH, and PYUSD maybe you should spend more time learning. None of them have anything in common outside of the underlying tech being blockchain. "crypto" is a general term that really means nothing. It is like using the term "vehicle" and conflating boats, motorcycles, cars, planes, jet skis, and buses as one thing. permalink embed save parent report give award reply [–]BuyETHorDAIPlatinum | QC: CC 500, ETH 93, ATOM 59 | Politics 20 0 points1 point2 points 18 hours ago (0 children) Centralized stablecoins are centralized. More at 11. permalink embed save report give award reply [–]Starkgaryen69Stack Sats 0 points1 point2 points 18 hours ago (0 children) Yeah, sounds like FIAT to me. Hard pass. permalink embed save report give award reply [–]wayfarer8888Tin 0 points1 point2 points 18 hours ago (0 children) pyUSD is fully backed, regulated and insured: https://www.coindesk.com/business/2023/08/07/paypals-regulated-stablecoin-is... permalink embed save report give award reply [–]orangecyanide 0 points1 point2 points 18 hours ago* (0 children) I'm not sure what the intentions of this post are but to start with the deth link that is being shared has the wrong ETH address, the actual address of the PYUSD is 0xe0a8ed732658832fac18141aa5ad3542e2eb503b ; you can check the tnx number and the supply:https://etherscan.io/token/0xe0a8ed732658832fac18141aa5ad3542e2eb503bAlso the functions are not written correctly and there is no 'wipeFrozenAddress' function. I don't think function exists in solidity even. You can see the real PYUSD smart contract code here: https://etherscan.deth.net/address/0xe0a8ed732658832fac18141aa5ad3542e2eb503... only thing that I found there is a bit controlling is that there is a _buyerMap and you cannot sell the token automatically on Uniswap (the interfacing DEX) if you are not on the _buyerMap or you have to wait for the _buyCount to surpasses the _preventSwapBefore threshold so you can sell it, but the _buyCount threshold is not defined in the contract. Never trust always verify. permalink embed save report give award reply [–]chillbanana111Tin 0 points1 point2 points 18 hours ago (0 children) The link OP posted is clearly to a fake PYUSD scam. What blows my mind is how many people didn't know/bother to check. permalink embed save report give award reply [–]melonmetaTin | 6 months old | NANO 92 0 points1 point2 points 16 hours ago (0 children) That's why we Nano #XNO permalink embed save report give award reply [–]HarvWhanDonTin 0 points1 point2 points 16 hours ago (0 children) As long as the source code is laid out free for all, it's positive, i suppose. My worry is that the popularity of this may encourage more control and a bigger move towards a CBDC cashless society where no one can see the source code... permalink embed save report give award reply [–]Cheeky-Devil 0 points1 point2 points 16 hours ago (0 children) I didn’t even know you could do that with USDT permalink embed save report give award reply [–]Bizness_boiTin | CelsiusNet. 10 0 points1 point2 points 15 hours ago (0 children) I hate to be crass but I think getting bent out of shape about a centralized service having full control of their asset on any chain is ridiculous, and it's frankly uninformed to claim anything like this is "against the idea of crypto!" We're talking about a company guaranteeing their own assets on any chain. You have tons of centralized and decentralized options if you want to transact in dollars. If you want the value that circle, tether, paypal provide with their stablecoin, you have to play by their rules. There's certainly a lot of value in knowing that somebody would have a hard time running away with all your USD if you stored it on chain, and knowing that it isn't held in a bunch of smart contracts, it's held in a vault somewhere (let's not get into the nuances of how fiat works). You know what makes crypto great? Nobody is forcing you to use this anymore than being forced to use BTC or anything else to transact in. Store your shit in MAI if you're worried, swap to another when you need to. Don't overthink it. permalink embed save report give award reply [–]AdZealousideal3461 0 points1 point2 points 15 hours ago (0 children) Transparency in the source code is crucial, but the ability to freeze and unfreeze accounts might raise concerns for some. Central control over the supply via Supplycontroller is notable, and the potential for CBDCs to adopt similar functions is intriguing. Let's keep an eye on developments in the stablecoin space! permalink embed save report give award reply [–]holybawlTin 0 points1 point2 points 14 hours ago (0 children) I would only use PayPal for fiat on/off ramp. Ach to bank. So that’s opens another opportunity to ramp in and out in the USA. That’s a win in my book. permalink embed save report give award reply [–]Crypto-Expansion 0 points1 point2 points 14 hours ago (0 children) That's a PCDC: Paypal Controlled Digital Currency! Stay away! permalink embed save report give award reply [–]sylsau 0 points1 point2 points 13 hours ago (0 children) All the alerts raised on PayPal's stablecoin should make you aware that those who issue USDC and USDT may be doing exactly the same thing... permalink embed save report give award reply [–]FallenOne2334Tin | CC critic 0 points1 point2 points 13 hours ago (0 children) Another reason I do not use PayPal anymore. permalink embed save report give award reply [–]Computer_says_noooTin | QC: CC 18 | DOGE critic 0 points1 point2 points 12 hours ago (0 children) So pretty much like a CBDC permalink embed save report give award reply [–]orangecyanide 0 points1 point2 points 12 hours ago (0 children) Wrong smart contract. OP is a scammer. This is the correct smartcontract: https://etherscan.deth.net/address/0xe0a8ed732658832fac18141aa5ad3542e2eb503... permalink embed save report give award reply [–]ShinAlastor 0 points1 point2 points 10 hours ago (0 children) This is not good permalink embed save report give award reply [–]GotStuckedTin 0 points1 point2 points 10 hours ago (0 children) What a surprise! Ahem.. permalink embed save report give award reply [–]Xylon818Bronze 0 points1 point2 points 9 hours ago (0 children) The largest stable coins are all centralised. USDC and USDT both do the same. This is why a decentralized money like Nano, Monero are so important. permalink embed save report give award reply [–]xxXTECHxx 0 points1 point2 points 9 hours ago (0 children) Decentralized permalink embed save report give award reply [–]DanTheMan_117Tin 0 points1 point2 points 6 hours ago (0 children) So what if the private key of controller gets leaked? Rip coin? permalink embed save report give award reply [–]YouAreAnFnIdiotPlatinum | QC: BTC 221, ETH 209 | TraderSubs 426 0 points1 point2 points 5 hours ago (0 children) Dai enters chat permalink embed save report give award reply [–]sherpya 0 points1 point2 points 3 hours ago (0 children) stablecoins are centralized permalink embed save report give award reply [–]WordofDogeRedditor for 2 months. 0 points1 point2 points 2 hours ago (0 children) I knew they would do something like this with their coin. Everyone please do some research of PayPal before using their new coin. They have a massive history of claiming/freezing funds. To big and small people. permalink embed save report give award reply [–]ucantbm 0 points1 point2 points 44 minutes ago (0 children) BTC ftw. Freedom! permalink embed save report give award reply