A)What is the point of bitcoin if the value is directly tied to another currency? This sounds more like a digital dollar and not a truly decentralized system.
B) if everyone creates their own stable-coins, won’t see lose value of individual satoshi or fragments of coins if there are exchange and transaction fees on both ends?
What is the point of bitcoin if the value is directly tied to another currency?
well this stuff isn’t Bitcoin, that’s a separate system entirely, and the point isn’t for these stablecoins to rise over time. the hope with them is that by using the dollars relative stability they can be used to conduct financial transactions that have a much more stable value than using something like Bitcoin
for example the prediction-betting site Polymarket uses a stablecoin called USDC for its transactions, instaid of some other cryptocurrency
its decentralized in a sense that it’s extremely difficult to reverse transacitons and that you can keep money in a wallet without people being able to take it from you, but the value of it is set by a single company so it’s isn’t really decentralized
A)What is the point of bitcoin if the value is directly tied to another currency? This sounds more like a digital dollar and not a truly decentralized system.
B) if everyone creates their own stable-coins, won’t see lose value of individual satoshi or fragments of coins if there are exchange and transaction fees on both ends?
well this stuff isn’t Bitcoin, that’s a separate system entirely, and the point isn’t for these stablecoins to rise over time. the hope with them is that by using the dollars relative stability they can be used to conduct financial transactions that have a much more stable value than using something like Bitcoin
for example the prediction-betting site Polymarket uses a stablecoin called USDC for its transactions, instaid of some other cryptocurrency
its decentralized in a sense that it’s extremely difficult to reverse transacitons and that you can keep money in a wallet without people being able to take it from you, but the value of it is set by a single company so it’s isn’t really decentralized
idk how to answer your second question