Most maxis life in the first world and forget shit can be useful in the third world in the form of stablecoins.
Discussion
Most maxis live in the first world and forget that shit can be useful in the Third-World in the form of stablecoins. (fucking autocorrector)
Stablecoins are a shitcoin of a shitcoin. A double shitcoin. USD is just the nicest fiat crack house on the block. Their use is as a temporary transition crutch over to a Bitcoin Standard not a viable long-term financial tool.
I agree to that. It is a useful temporary tool while waiting for global BTC adoption.
Look at El Salvador
I've been through this debate too many times. I'm from bsas, aka, The Third world. Third-worlders will escape CBDCs using stablecoins, not Bitcoin. Bitcoin can lose 20%-40% in one week, and loosing that amount in a single week would mean going broke and no food for your children here.
USDStablecoins? In one week, in a superb crisis, maybe they lose 1-3% max value. And that is ok for us thirdworlders, we can handle 1-3% loss of all of our value in a week (Those are rookie numbers btw, we'd had worse).
If you don't get it, come sell bananas in my country. You'll get it. Don't "El-Salvador"-me, Maria who makes Licuados at the beach, saves in USDT for her weekly Licuados-business expenses.
Bitcoin IS king, and will win, just not yet. Green groceries can't use it for saving in one-week terms. They can't buy bananas for next week in a crisis and will lose their business by adopting 100% btc. When the volatility of BTC is reduced to +/-3% max in a superb crisis in a period of one week, that is when stablecoins will no longer be needed.
First world Maxis have to start understanding that us, thirdworlders, we did not have the technology in our lives to save in a more stable currency for short and medium periods of time, and now we do have that with stablecoins.
I am open to more discussion, change my mind and learn. Give me a good excuse and tools to convince my friend who sells bananas and tomatoes for a living to go full100% btc for short term savings and for his business, and I promise I will go with him and let him know he can start using it 100%. I don't think that is possible, not yet.
Small #debate about #shitcoins #stablecoins #thirdworld & #BTCAdoption on this thread 👆