Stable sats are a very stupid and round about way to hold a shitcoin.
If there's anything worse than holding fiat directly, it's holding some kind of perpetual derivative contract for fiat that you traded real Bitcoin for.
/End rant
Discussion
anything that settled in fiat is total shit n risk when music stops - or good if can get kicked next 20yrs - institutions by law cannot get into onchain btc directly or easily - that is way of fencing n preventing
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Bitcoin already has a relative price to usd...what does locking sats into dueling trades to maintain consistent visual price even do ???
The way I see it, stablecoins or stable sats are just a way to ease nocoiners into the ecosystem.
Yes, it’s the long way around to bitcoin, but it might be the most comfortable path for some.
Given the distance that has to be traveled for most nocoiners, I think it’s an understandable route to on onboard.