$PYUSD: Is This a Government Plant, a Meme Coin, or Stable Coin? May Your Wallet Be the Judge...
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As soon as I saw the news the decentralization-loving, Hive tribalistic mind of mine said that this is some B.S.
Paypal just launched their own stable token and I don't know how any real Web3 purist could be excited about this. I've heard tons of horror stories from eBay sellers over the years about their battles with PAYPAL over freezing their accounts and other terrifying issues.
I know the world won't switch to @hivelist overnight for e-commerce but we've got options here on Hive... Just saying.
We also have a pretty strong option over this new $PYUSD in our battle-tested, decentralized, sustainable stable token that is the $HBD
The Hive Backed Dollar is the token I've transacted in the most in crypto. It's reliable, free to send to any other hive account, and faster than a speeding bullet.
It's backed by a real decentralized community, as opposed to a company that probably controls everything on a single server. I'm not a conspiracy guy or anything, but this might be a government plant or a scheme for PayPal to mine people's data.
Either Way, outside of popularity this new PayPal token is inferior to $HBD in so many ways at first glance. I only say that because I've been spoiled by the $HBD for so long.
But we have a freaking 20% APR on $HBD Savings for crying out loud!
How are you gonna compete with that?
The centralized currencies are coming and they're gonna come dressed as us for Halloween. There's no way around it.
I just hope we have enough influence with our friends and families to help steer them away from some of the really bad stuff.
I was in crypto when it was all about making a mockery of people who took an interest in the tech, and it's crazy to see big companies now wanting to recreate a tainted version of what we've built to force on the masses under a "professional" disguise.
I doubt this is a big scheme but if it is by some chance, I'd think it would be horrible timing.
All of their writers are on strike, most of the networks have laid off tons of on-air talent, and it just feels like we're moving into a world where Hive is going to become more and more relevant.
If this is what how their fighting the fight, I say bring it!
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