[DennisP]

There are stablecoins on top of Ethereum. Some are backed by off-chain bank accounts, others are based on price feeds and on-chain derivatives over ETH.

[AstralStorm]

In which case it's not a casino but a confidence trick. It depends whether you trust the issuer of the stablecoin and its backing to survive a bank run. (Black Friday anyone?)

They could just disappear on you with your money, and you would be left with gas on a contract nobody wants anything to do with.

[DennisP]

I agree and I'm not a huge fan of that type. I'm a bigger fan of the ones backed by ETH, as long as the price feed is reasonably decentralized.

[Salgat]

Too bad gas fees make the whole thing very expensive.

[DennisP]

Yes, if you're doing it on chain. On rollups it's cheap.