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Are you still afraid to hold large amounds in USDC ?

#21
wellington said:
USDC is less 'frozen' than say USDT
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Oh really? How do you explain that 1% of USDT supply is frozen while 1.7% of USDC supply is currently frozen?
(That makes even Wise and Revolut look safer! At least they give back your money after having them frozen...)


jorge said:
keep it in DAI
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This is even worse than just holding USDC.

legrant said:
You can deposit your USDC on it, which gives you a new token called avUSDC (may vary depending on blockchain), which is a yield bearing token of the USDC you originally deposited and can be swapped back to USDC at any time. avUSDC cannot be locked/frozen, and the underlying USDC is pooled/lent out, so while it can be frozen, it makes no sense to freeze as it'd freeze the whole protocol.
Click to expand...

Exactly, the whole protocol can be frozen. Coinbase wouldn't be interested in this at all, as this Protocol lending system is not a competitor for them. Oh wait, they are!
 
  • Wow
Reactions: cryptofriendly and burden
#23
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.
 
#28
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.
 
#29
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.
Click to expand...
Circle can blacklist the USDC that are used for DAI if it seems it as an undesirable service. Same can happen for ETH
 
#30
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.
 
#31
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.
Click to expand...
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.
 
#32
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
 
#33
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
Click to expand...
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.
 
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