PANews reported on October 26th that cryptocurrency critic Peter Schiff tweeted that if tokenized gold, which requires trusting a third party, is a scam, then so are stablecoins, which require trusting a third party to hold US dollars. "Surprisingly, many Bitcoin users who support and frequently use stablecoins claim that tokenized gold is a scam. Their problem is having to trust a third party to hold their gold. But how is this different from tokenized dollars, which require trusting a third party to hold their US dollars?"PANews reported on October 26th that cryptocurrency critic Peter Schiff tweeted that if tokenized gold, which requires trusting a third party, is a scam, then so are stablecoins, which require trusting a third party to hold US dollars. "Surprisingly, many Bitcoin users who support and frequently use stablecoins claim that tokenized gold is a scam. Their problem is having to trust a third party to hold their gold. But how is this different from tokenized dollars, which require trusting a third party to hold their US dollars?"
Peter Schiff: If tokenized gold requires trusting a third party, then so is a stablecoin that holds US dollars in custody.
PANews reported on October 26th that cryptocurrency critic Peter Schiff tweeted that if tokenized gold, which requires trusting a third party, is a scam, then so are stablecoins, which require trusting a third party to hold US dollars. "Surprisingly, many Bitcoin users who support and frequently use stablecoins claim that tokenized gold is a scam. Their problem is having to trust a third party to hold their gold. But how is this different from tokenized dollars, which require trusting a third party to hold their US dollars?"
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