Are you still afraid to hold large amounds in USDC ?

[SoNewToAllShit]

Is that really true, that's the only coin that can't be frozen, WAOW ?!! ja334¤¤#

 

[Revoltec]

Needs to be repeated as some people in this thread do‍ not realize it sadly...

 

[jorge]

Really, why‌ this, in former discussions around here on OCT the gurus said DAI is more secure‍ than USDC ?!

 

[Revoltec]

How can it be more‍ secure? Ethereum is falling, Circle can blacklist the USDC used for DAI and Ethereum can⁠ do the same for ETH. DAI is just a mix of USDC and ETH

 

[orangeye]

If you’re worried about your stablecoins being frozen, DAI is a safer choice than USDT‌ or USDC. It’s fully decentralized, governed by MakerDAO, and no single company can freeze your‍ funds.
In contrast, both Tether (USDT) and Circle (USDC) have a history of freezing addresses⁠ on request. DAI runs primarily on Ethereum (ERC-20) and is backed by crypto collateral, not⁤ fiat. Just be aware that its value stability depends on smart contracts and governance mechanisms.⁣

 

[Revoltec]

Circle can blacklist the USDC that are used for DAI⁢ if it seems it as an undesirable service. Same can happen for ETH

 

[orangeye]

You're right that Circle can blacklist USDC, even when it's used as collateral in protocols‌ like MakerDAO.

That's one of the trade offs with DAI today, since a portion is‍ backed by USDC. However, not all DAI is backed by USDC, there's also ETH, WBTC,⁠ and other decentralized assets.

The risk is real, but it's more distributed compared to holding⁤ USDC directly.

 

[Revoltec]

Well both ETH and BTC will probably fall⁣ over 70% for the coming 1-2 years so we do not know what that would⁢ mean for DAI.

 

[void]

bold move to use ETH‌ and BTC in one sentence - it never gets old... the only thing that ETH‍ and BTC have in common is their current price in USD being 2k under all⁠ time high...

it's possible (not very likely though) that BTC will one day "fall" from⁤ 1M to 300k
hoping BTC to fall from 100k to 30k is a sign of⁣ deep misunderstanding of what's going on

I guess time will tell

 

[Revoltec]

You assume I mean a 70% fall from 100k⁢ though. With stablecoins things are relative so I do not understand why you bring up︀ nominal BTC prices.

 

[void]

no idea what you're saying here

 

[Revoltec]

Depegging is a risk‌