/biz/ - Business & Finance

>>55771373
thoughts on deez nuts?

>>55771373
Can I buy drugs in the darknet with it?

Paxos is PayPal’s broker that will use Chainlink Proof of Reserves to prove on chain assets backing the stable coin. Linkies will inherit the earth.

>"Beginning in September 2023, Paxos will publish a public monthly Reserve Report for PayPal USD that outlines the instruments composing the reserves,"

https://www.coindesk.com/business/2023/08/07/paypal-to-issue-dollar-pegged-crypto-stablecoin-bloomberg/

>Paxos Adopts Chainlink Oracles to Further Adoption of PAX and PAXG in DeFi
>Additionally, Chainlink will develop on-chain Proof of Reserve Data Feeds for Paxos assets

https://paxos.com/2021/01/14/paxos-adopts-chainlink-oracles-to-further-adoption-of-pax-and-paxg-in-defi/

are we really supposed to pretend there is a real difference between the classic electronic payment stuff and these corporate stablecoins? its all just the same controlled shit with different methods of moving stuff around
are they just going to use it to slurp crypto more efficiently?

>>55771535
classic electronic stuff doesn't plug into defi, stablecoins do. in the future paypal and other financial services companies could become defi platforms or have an interface that lets you use some other defi platform(s)

>>55771533
They're using a proprietary auditing tool from a big 4, stop lying

>>55771543
>doesn't plug into defi, stablecoins do
yea, so its just so they can slurp and dominate the markets, i hate it when people get so excited about classical financial institutions get into crypto, it's just gonna be more bullshit trickery than ever before
the protocol of the movement is somewhat irrelevant, they control it and can lock wallets like they can lock accounts

>>55771543
Yeah this is just onboarding crypto assets.

>>55771373
i hope it goes to hell

scam

>>55771533
Scam

>>55771497
> As an ERC-20 token issued on the Ethereum blockchain, PayPal USD will be available to an already large and growing community of external developers, wallets and web3 applications, can be easily adopted by exchanges, and will be deployed to power experiences within the PayPal ecosystem.
maybe next time, linky.

>>55771722
And Paypal USD will need a method to demonstrate it's backed to the USD. That's where the collateral comes in. And you use oracles to deliver a data feed that monitors the collateral amount.

>>55771722
>>55771622
>>55771610
>>55771590
>>55771585
not sure if retarded or just a lost /pol/fag but you """people""" are pathetic.

>>55771844
they could also use a bank account for that, you know, like literally everyone would do in a situation where you have to store a bunch of USD in an auditable manner.

>>55771879
you should go suckle at the teat of classical financial institutions like the good little slave you are

>>55772029
take your meds and start surrounding yourself with things you like. i genuinely feel bad for you little man

>>55772073
you're a fool, the most evil pieces of shits are in charge of the institutions you worship

>>55771497
>>55771533
This is why everyone hates you. Every piece of news that comes out you morons jump out and scream CHAINLINK. This has nothing to do with your shitcoin. Fuck off.

>>55772151
It actually really does have everything to do with link
Ok, maybe not EVERYTHING

>>55772129
im very aware. funny you assume i worship them though. again, meds.

>>55772151
>This has nothing to do with your shitcoin.
wrong. room tempie cant read?

>>55772186
your attempts at personal insults on an anonymous imageboard is pathetic

>>55772222
Amazing digits
AHAHAHAHAHA

>>55771373
Chainlink not needed.

>>55772255
Oh shit…

>>55772222
check'd
>>55772255
check'd
>>55771373
it's cool news but not really investable. pegged to the USD and doesn't provide an option to stake it for interest.

>>55772267
It’s bullish for Eth and link

>>55772285
and why would you think that?

>>55772290

>>55771948
Now we're going back to 2017 levels of discussion. You can use a bank account as a data source, but you need a mechanism to get that data to the blockchain. That mechanism is called an oracle and we need a way to ensure the oracle doesn't tamper with the data. If they or someone could fudge the numbers via transit, that'll spell doom for the stablecoin at large.

>>55773208
usdc and usdt have the same

Oh i can tell you what this all about. Paypal wants to manipulate bitcoin...

>>55773362
Is this a function of all stable coins?

someone explain this shit. Will it launch at $1 or do I buy it early at like 10 cents and 10x

Im a retard help

so what? why would you ever use it?
you want something free from as much judaism as possible? your only liquid option is DAI.
you want something as liquid as possible? your only options are USDT and USDC.

everything else is just a desperate attempt at grabbing interest from your deposits while passing a little money and a lot of risk back to you .

>>55771844
the collateral is off-chain you retarded bagholder. chainlink has already been exposed as worse than worthless for any kind of "proof of custody". either it's on-chain or you're trusting auditors, nobody needs a middleman to blindly gobble up fraudulent attestations and relay them as if they mean anything.

>>55772285
bullish for eth? no. ethereum? yes. link? hahaha

>>55775566
Checked
It is definitely bullish for link. Sorry if you don’t get it.

>>55773362
Exactly! This is literally another shitty stablecoins with no uniques usecase instead of working to make paypal better they do this?

So this pretty much confirms no dumbass project will ever dethrone eth
If you’re in any project that has the selling point of hoping to dethrone eth just sell now
It’s never NEVER going to happen

>>55775646
i guess that means when link's price keeps going down you'll accept just how little it's desired by retail and institution despite all these "bullish" events, yes?

Nobody wants to use an ETH stablecoin. You have to pay Fees to ETH to use this so its total bullshit.

Whoever made this is an ETH holder and they probably love the huge fees getting paid to them. But you guys are all suckers.

>>55775873
long term it just fragments and pushes activity onto layer 2 networks which just diminishes ether's value as a universal base currency on their own ecosystem.

eth's value rests entirely on ethereum's ability to continue with large upgrades of the single base layer chain. it's not like bitcoin where l2s merely enhance btc's utility.

Cryptotards thought megacorps and the government was going to adopt and pay millions of dollars buying their shitscoins instead of just... making their own proprietary shitcoins.

>>55775962
they're using ethereum

>>55776059
taking advantage of*, while giving nothing back.

ETH is garbage. It is the shittiest scam trash that exists. The more it's used, the more it breaks. It's slow, it's unreliable, it can't scale, and all of the nodes are controlled by Blackrock. Anything built on top of ETH is a fucking joke.

>>55775790
>instead of working to make paypal better they do this?


To the best of my knowledge paypal is perfect as it is, which other feature would you like to be included.

Cool, but unless I'm misreading, why the fuck is Paxos Trust issuing it and backing the funds? That gives PayPal themselves zero recourse if the reserves burn.
In fact, with Paxos already issuing the Pax Dollar, this is basically nothing but a rebrand. If you don't trust the literally-who USDP, I don't think you should trust PYUSD.

>>55775491
i don't think you should be on this board

>>55771547
Oh the big four? Which one? Is it by chance the PwC?

>>55776341
fees

>>55776609
which aren't paid by them, but the users, from their wealth.

>>55776059
why are they using bloatware?
ethereum is like installing a dummy thiccc bank vault door on a toilet.
expensive security protecting absolute pajeet shit for literally no reason LOL

Nobody seems to realize that this is where the new financial system is headed. Private stablecoins instead of CBDCs.

>>55776686
to the ethereum network

>>55775873
All the WEF bankers invested heavily in ETH not knowing it’s a shitchain that can’t scale. They will shove the world into dystopian economic destruction & blame trump for it before they admit their support of ETH as a “future digital currency” was retarded

>>55776421
I like you :) greetings anon

>>55776731
Yeah see what happened to Facebooks libra little faggot cocksucker

>>55776836
libra could have been based. sell something on facebook market place? settle in libra. zuckercuck creates a western wechat. instead they had to shut it down zuckercuck creates the metaverse to prove to the world digital shit has value, somehow makes something look worse than a twenty year old second life instead of employing a few vidya developers now his entire company is only as valuable as a twenty year concentrated data hoard made up of boomer and gen X plebs mEtA bro fr no cap

>>55776901
Pfff look into lifelog little zoom zoom thats allllllllll a CIA front

>>55776454
>which other feature would you like to be included.

Maybe extending their services to other countries, offering other features like zero transaction fees like CryptMi offers.

Can I transfer the money in my Paypal into this shitcoin then use it to buy real crypto? I'll finally be able to use the money they wont let me withdraw. Fuck Paypal.

>>55776829
>They will shove the world into dystopian economic destruction & blame trump for it before they admit their support of ETH as a “future digital currency” was retarded
Gonna need an oracle for that

>>55771535
>a real difference between the classic electronic payment stuff and these corporate stablecoins
stablecoins are programmable in ways classic digital dollars are not. this allows them to operate within (and without) virtual machines, and more importantly, it allows them to be controlled at the distribution end by applying coded restrictions on what they can actually do.

>>55771373
Smart of them to partner with Paxos for regulation but they will need someone else for the EU

>>55776421
No one cares about any of that, as long as money is pouring into new token releases, that's all that matters. That's all that's ever mattered with ETH, be first to buy new token then sell x10, or hold those few gems, rinse and repeat.

>>55771373
Instead of fixing PayPal, they pull moves like this with no returns. Let's watch the drama unfold. Personally, I'm sticking with Tap – It's features available on-demand, wherever and whenever.

>>55777620
Kek too early to think in that direction. We're still hugging bears. Talk about asset that can boom in the next cycle. XRP, LTC, XTP, and even SHIB that is far from hitting ATH. Theyre the things that will actually boom the cycle after the next cycle