Question Confiscating USDT vs ETH vs Bitcoin ?
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How to verify that, where did you read that ?
I believe it is important to verify the information provided here on OCT, especially when it concerns critical information that could have catastrophic consequences if one proceeds blindly.
https://etherscan.io/token/0x6b175474e89094c44da98b954eedeac495271d0f#code
Scroll down and you see Contract source code .
This would be very possible and an easy way for switching off DAI. No stablecoin is safe, and all stablecoins are an aberration.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Exactly. In my eyes, DAI is not the solution but just adds counter party Risk. Now you are still exposed to USDC and the ETH network. And will DAI hold its peg when ETH starts falling in a bear market?
But what is the solution in cashing out during the bull market and not get dragged down in the next bear market? Seems like one either has to trust stablecoins or a bank.
If you only use DAI or USDT for quick swaps as we have seen in another thread I don't believe the risk is very high. Just replace the receiver address everytime you make a transfer. It would stay there is a day or to or maybe only hours. You can't get an court order that fast.
DAI (now rebranded as USDS) usdc liquidity is currently being held by a single address (which isn't even a contract or a multisig) controlled by Coinbase. You can check that for yourself on-chain.
You are just better off putting your money in USDC directly and investing it into Compound or Aave so it can't be blacklisted directly.
You will add a layer of risk (protocol getting exploited) but I think it's a fair trade-off if you consider DAI isn't as safe as you might think in the first place.
You are just better off putting your money in USDC directly and investing it into Compound or Aave so it can't be blacklisted directly.
You will add a layer of risk (protocol getting exploited) but I think it's a fair trade-off if you consider DAI isn't as safe as you might think in the first place.
stupi#21
There is not such a thing as “cashing out” crypto. You mean exchanging a valuable asset for worthless currency, which is idiotic. If you need a quick conversion for contingent needs, any stablecoin will do.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
It's not gonna be so "temporary", you are looking at around 3 to 4 years of bear market on average + how long it's gonna take you to realize we hit the bear cycle bottom and deploy your capital.
If this is your first crypto rodeo I highly advise you just DCA into 3 to 4 of your favorite projects and hodl.
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