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How can I trust Bitcoiners who don't even realize the US's stablecoin ploy?

It's so easy.

John buys USDT > Tether those dollars Invests in US bonds and earns a return > US finances itself

John gets a worthless currency and inflation in return, a lose-lose situation for John.

The Trump administration is only using Bitcoin to promote itself, making you believe it's pro-Bitcoin, but they simply have to shoehorn that narrative in to make stablecoins the standard because they've found the goose that lays the golden eggs to finance themselves.

What better way than to extend the use of the dollar to every corner of the world? Seriously, you guys are delusional.

There are even Bitcoiners who are in favor of stablecoins, which are useful, but fucking retarded, why do you want a stablecoin when you have Lightning and Bitcoin is at a minimum in terms of volatility?

StackinBeets 3mo ago 💬 3

The only good thing about stablecoins is it provides a survival alternative for poor people in places without access to the least weak fiat currencies, as well as their inability to deal with bitcoin's fiat denominated volatility as it is now. To all the rest it is indeed just a fiat extention.

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Discussion

satstacker 3mo ago

This ☝️

Hawk 3mo ago

What? Yes, stablecoins give people in Malawi or Argentina access to a fiat currency that is less inflationary than their own. But so what? Bitcoin is less volatile and definitely less inflationary than USD stablecoins, and can be used completely anonymously and without KYC or any outside control when used over the lightning network.

StackinBeets 3mo ago

I wasn't making a case for stablecoins. I was just saying it can be of help to some for a short duration. So I don't demonise its existence as much, but it's just another disaster waiting to happen yeah.