@PanteraOnNoiseApp
A market for a stablecoin pegged to the dollar and running on Bitcoin Cash does exist, it will be profitable, and it will increase the utility, user base, and value of Bitcoin Cash. A large proportion of crypto users around the world don't want to use centralized exchanges for trading due to the risks involved but would prefer to use on-chain solutions. The reasons are not illegal either, just people who understand the risks associated with centralized exchanges. We've seen in the past almost every exchange suffering from data leaks, hacks, accounts getting hijacked and wallets emptied. MtGox, Cryptopia, Bitgrail, Coincheck, and FTX are just a few exchanges that went down and users had their funds lost or stolen In fact, I have created an (incomplete) list regarding hacks of centralized exchanges between 2009 and 2013 here: https://read.cash/@Pantera/crypto-exchange-hacks-2009-2023-chronological-list-7a804ea3 With that in mind, it is not irrational to be worried when using any centralized exchange. This is the market. Daily traders or long-term traders who want to sell part of their crypto without the risks associated with CEXs. BCH Bull contracts is one solution but it doesn't offer spot trading. There is a risk as well that a stablecoin will be centralized and could entirely collapse due to attacks, bugs, miscalculations, mismanagement, capture, or legal implications. $MUSD (Moria) could be a soQlution, we will have to wait and see.
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