I had to laugh earlier this evening...
I was poking around Threads and saw one from 
He basically said, he expects to see dozens of new posts on the blockchain today about the 'PayPal' news.
Oh boy....Here we go!
I'm sure this may be the 101st post on the topic you will read tonight, but even before I saw Logical's thread, I was planning on this post because of...'The news'.
In case you missed it, PayPal is launching a stablecoin on Ethereum. This isn't a rumor, their official Twitter / X account sent out the message earlier today...
What made me want to write a post about this news was of a personal nature...And if you have followed my blog for anytime, you'll know how the story goes.
I was a customer of PayPal's for 17 years. I was one of the first holders of their debit card. There was a time I even had a personal account rep.
I played by their rules, defended them at times and had a stellar reputation with them. Or so I thought...
The email I got in April of 2017 changed my life forever...
"Your account has been suspended without recourse."
I was used to getting these phishing type emails before, but this one was legit. I called them, expected them to apologize for the inconvenience and it would be business as normal.
I wasn't doing anything illegal, I played by their rules for 17 years without a single issue....
To this day, I no longer have a PayPal account with no explanation as to why they shut me down. Business crushed, career ruined, I lost my home and to be brutally honest with you, I'm still trying to recover and rebuild my life from it.
The blessing was because of this, I discovered Hive (then Steem). But this was my first taste of 'centralization'.
So fast forward to today's news and yeah, look I know it's big news for 'crypto' and I use that term very loosely these days because let's be honest...No one in 'crypto' cares about decentralization.
Not a single influencer, crypto reporter, news agency, none of them care one bit about decentralization because I guarantee you...
PayPal will be embraced, Ethereum will look like an even better investment, and the bull run may very well come sooner rather than later.
But through it all, true decentralized projects like this one right here...Will largely be ignored.
But my 'word of caution' isn't about this...It's what PayPal can do, and potentially will do with this stable coin. The more I've read up on it, the more I have seen where they have in place the ability to freeze and wipe out the coins you hold.
And if you think it won't happen...
Hi my name is Jongo and I'm a living witness to what this evil company can and will do.
So I get it, it's exciting. People love PayPal. But please use caution. Don't fall in love with this token, no matter what the hype is around it. They will be the media darlings for the rest of the world, but every day people end up getting hurt because of how they do business.
Don't trust a single PYUSD in your wallet and if you end up using it, flip it quick!!!
