[dman7]

We're not actually certain whether Mastercard will include volatile cryptocurrencies, such as Bitcoin. Reading this article (https://arstechnica.com/tech-policy/2021/02/mastercard-will-...), their requirements suggest supporting stablecoins (i.e. USDC). These cryptocurrencies are pegged to the dollar and should be backed by a reserve. In that case, your argument about price movements doesn't apply here.

[PragmaticPulp]

Stablecoins are, in theory, just a cryptocurrency representation of actual money in the bank somewhere.

I'm all for it, if it's properly audited and confirmed that the funds are in place.

I'm a huge proponent of cryptocurrency technology as long as it doesn't:

1) Depend on wasting ever-increasing amounts of electricity doing arbitrary useless proof-of-work

2) Create a new currency out of thin air, when all we really want is a way to move our existing money around. I don't want to have to buy an arbitrary cryptocurrency from some early adopters at an inflated price just to move my USD from point A to point B.

[TylerE]

That's a rather heavy should. I'd bet dollars to pesos at least some of them are operating fractional reserve schemes, or have the reserve "invested" in crypto.

[dman7]

True. I'm mainly referring to the fact that some stablecoins, such as Tether, are not honest about their actual reserves: https://news.ycombinator.com/item?id=25788409