More Posts
Men can’t use this excuse, right?

Additional Posts in Everything crypto
New BlockFI CC looks lit. Thoughts?
3600 com'n bit coin give me a 4k
Thoughts on BAT?
DOGE GO GO GO
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Pro
I don’t think anybody understands the risks tbh. I certainly dont. I know a number of programs have failed already, but it SEEMS like there’s enough collateralization and auditing for major coins like usdc and gusd - risk seems more with the platforms and who they lend your coins to, or other systemic risks like government regulation.
Coins like USDT or UST or anything else, i really have no idea how risky they are because it’s a little harder to understand what’s under the hood or what their plans are in worst case scenarios.
USDC and GUSD seem reliable. I don’t like the FUD around USDT and the rates on UDT feel unbelievable
I’ll admit I don’t know enough about it, but I’m also only putting amounts that I am ok with losing.
Coins backed by the major exchanges (USDC, GUSD) are rock solid imo - collateralized with dollars so always redeemable. USDT is a big question mark, although they’ve been reducing commercial paper backing and replacing with hard assets. UST is interesting - they’ve started backing a portion of it via BTC due to liquidation and bank run risks - definitely make or break for UST/Luna but I still think the 20% you can earn on Anchor outweighs the risks atm.
Rising Star
The risks are not sufficiently understood by most which is why the yields are so high.
I'm confident personally that USDC can hold its peg.