A pig butchering scam is a very specific type of scam. It's not remotely like this.

This is the state holding the paper and giving you a token to represent that that you can move about quickly and easily. Just like banks do with digital accounts, only faster and cheaper.

I do wonder if these angry old men on slashdot are the same bright eyed optimists from years ago, just older and jaded.

Well I was thinking about using this for the kind of amounts I now use contactless bank cards for. This is far more secure than contactless bank cards.

Beside you can choose your own wallet. Pick whatever one you feel safest with.

I've literally been buying groceries and restaurant bills with my phone for years now. So has everyone i know.

For small transactions phones are fine.

I expect prices to rise about 5% to 10% for everyone else and maybe 3% to 8% for people using this, assuming it actually takes off. At best this can reduce transaction costs, it won't offset tariffs related price increases.

Retailers will be incentivized to encourage consumers to use it so both sides will benefit.

That's why this is available on the blockchains with cheap transactions. It should be well below a cent per transaction.

The difference to the US consumer is that it's actual money though, not debt. You need to have it before spending it.

Do you really think credit card rewards are free? The retailer is paying 1% to 3% fees to accept your payment. They put your price up 1% to 3% to cover that.

Personally I'd rather not pay that extra to begin with.

Do you want the honest answer to that? It's because US banks are terrible and the payment systems they use are awful. People still use paper checks because they can't trust ACH. Things like Venmo exist just to fill in the gaps where banks are failing everyone

Look at what Europe has if you want to see a functional banking system. You can send payments from any account in any country to any other account in any other country within 10 seconds. For zero fees.

Also US banks have lower reserves and go bust more often than European or Asian banks. I wish I was making it up.

It's backed by 102% of the value being kept by the state government. I do hope they release public audits of that.

So yes, it's backed by, and pegged to, the dollar.

You just avoided answering and tried to distract with an insult. Classic internet, but not convincing.

By the same reasoning checks, credit cards, debit cards, gift cards, mortgages, and loans are also a violation of Article I, Section 10, Clause 1..

They are not creating money here. They are putting money in a safe and representing it with digital tokens so people can move it about faster.

This isn't stuff created out of thin air. It's state backed currency.

You are confusing stablecoins with algorithmic stablecoins. This one is fully backed at 102% by a government, not by a algorithm that fails apart when under stress, and not by a company that might be cooking the books.

The state of Wyoming has a lot more trust in Germany and New Zealand than some US company that might just be the next Enron.

The use case is everything cash or credit cards are used for. So why use it? Because credit cards charge retailers 1% to 3% fees and this could potentially cost a tiny fraction of that.

Imagine if your grocery and gas costs went down 2%.

This is just a more efficient way to move dollars around. It's not bitcoin.

How is it a ponzi scheme if it's 102% backed? It's just another way to move dollars around with lower fees.

The 3% credit card fees paid by merchants are still pushing up the prices you pay for goods and services.

US retailers pay between 1% and 3.15% in fees on every single credit card transaction. Imagine if you got that as a discount on everything you buy.

Saving a few percent on your weekly groceries is worth something, right?

I'm not disagreeing with what you say about Intel's marketing, but I'm guessing you have never worked with Accenture. They send interns and charge hundreds an hour for them. The only thing they deliver is lies to justify more of their own staff.