'Raise Your Hand If You've Bought Or Sold Something With Bitcoin': Fed Official Reportedly Slams Crypto And Stablecoins As 'Utterly Useless'
View original at finance.yahoo.com'Raise Your Hand If You've Bought Or Sold Something With Bitcoin': Fed Official Reportedly Slams Crypto And Stablecoins As 'Utterly Useless' Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below…
What we drew from this source
The claims Via News extracted from this document. We point to the source; we don't replace it.
Stablecoins do not do anything that Venmo and PayPal do not already do
80% confidenceWhen you ask basic questions about crypto or stablecoins there's just nothing there
80% confidenceCryptocurrencies are like Beanie Babies with no clear fundamentals beyond bypassing banking regulations
80% confidenceBitcoin is not digital gold or no longer digital gold
80% confidenceBitcoin is transitioning from being purely speculative to having a real use case
80% confidenceStablecoins are not useful in the U.S. and their cross-border benefits are lost when converted to native currencies
80% confidenceCryptocurrencies are utterly useless
80% confidenceBitcoin is not a means of payment or currency and is unlikely to replace gold or fiat
80% confidenceStablecoin proponents only provide buzzword salad answers about tokenized deposits without explaining real consumer benefits
80% confidenceAI has real long-term potential for the U.S. economy as opposed to crypto
80% confidence
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