Are you still afraid to hold large amounds in USDC ?

[Revoltec]

burden said:






and what do you suggest as an good alternative for people not so techy as most here?

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It is really hard to find a good solution. Everyone needs to decide what is best for his own situation. Bitcoin is the only thing that cannot be frozen but if you believe crypto will fall in the next 12 months you probably need to make a sub optimal solution with diversification.



But to just claim things like DAI or some protocols are a better solution is dangerous and shows lack of knowledge. In my opinion they increase the risks. Be aware of the risks with USDC and USDT and consider other solutions as well.

 

[SoNewToAllShit]

Revoltec said:






Bitcoin is the only thing that cannot be frozen but

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

 

[Revoltec]

SoNewToAllShit said:






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

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

 

[jorge]

Revoltec said:






This is even worse than just holding USDC.

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

 

[Revoltec]

jorge said:






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

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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]

orangeye said:






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.

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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]

orangeye said:






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.

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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]

Revoltec said:






Well both ETH and BTC

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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...











Revoltec said:






will probably fall over 70% for the coming 1-2 years

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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]

void said:






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

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

 

[void]

Revoltec said:






With stablecoins things are relative so I do not understand why you bring up nominal BTC prices.

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no idea what you're saying here

 

[Revoltec]

void said:






no idea what you're saying here

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Depegging is a risk