In the recent thread about this topic [1] people mentioned that USDC is also not fully backed by pure cash.
Assuming USDC has no funny business like tether seems to, how is this any different than companies like PayPal, which presumably also don't just have a bank account sitting with billions of dollars cash, backing all of their virtual cash?
I'm really struggling to understand these numbers.
In some other articles I'm seeing that it offers 100% protection against hospitalisation and death.
"The J&J vaccine was 85 per cent effective at preventing severe Covid-19. Twenty-eight days after the jab, it offered “complete protection” from hospitalisation and death." [1]
Wouldn't having "severe" infection require hospitilisation?
Assuming USDC has no funny business like tether seems to, how is this any different than companies like PayPal, which presumably also don't just have a bank account sitting with billions of dollars cash, backing all of their virtual cash?
1. https://news.ycombinator.com/item?id=27151370