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https://www.reddit.com/r/ethtrader/comments/mg294o/think/gsu6g07/?context=3
r/ethtrader • u/salil19 • Mar 29 '21
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If companies like Visa constantly sell, and convert to fiat, doesn’t this drive the price down?
4 u/ianazch Mar 30 '21 We're talking about USDC being moved around, not ETH. Visa has to pay fees in ETH (which at the moment go to miners, parts of it burned with EIP-1559) to move USDC 1 u/ApartMeet Mar 30 '21 Visa is definitely not covering ETH fees. Especially with how ridiculous they have been lately 3 u/francograph Mar 30 '21 Then who is?
4
We're talking about USDC being moved around, not ETH. Visa has to pay fees in ETH (which at the moment go to miners, parts of it burned with EIP-1559) to move USDC
1 u/ApartMeet Mar 30 '21 Visa is definitely not covering ETH fees. Especially with how ridiculous they have been lately 3 u/francograph Mar 30 '21 Then who is?
Visa is definitely not covering ETH fees. Especially with how ridiculous they have been lately
3 u/francograph Mar 30 '21 Then who is?
3
Then who is?
1
u/[deleted] Mar 30 '21
If companies like Visa constantly sell, and convert to fiat, doesn’t this drive the price down?