Stablecoins issued as taproot assets could be the path to preventing CBDC adoption & making many normies & legacy systems completely dependent on Bitcoin infrastructure.
It's possible that fiat shitcoins on Bitcoin could save us from horrible tyranny on the way to a Bitcoin standard.
Very naive to think shitcoins and stablecoins on bitcoin will deter CBDC rollouts.
I don't think it will deter them, but if people have a way to move dollars outside of the system & CBDCs are strictly controlled, enough of the market may prefer the alternative that CBDCs basically fail.
If bitcoin does not convince people to not use CDBCs, stablecoins won't do the trick.
Those people will always use whatever the State tells them to use.
Or whatever provides them personal value. Take tik tok and TCP/IP. I'm not a fan, but it herds the sheeple into using the protocol because of their personal perception of a value gain. If you get enough sheeple involved, and then the government wants to take it away, you can throw sheeple bodies at the political process. Democracy is very hackable in this way.
This is the unfortunate reality. Most people think a currency must be backed by a government and can’t imagine an alternative. And of course, governments reinforce this idea through propaganda.
A well managed stablecoin retains the perception & effectively the same monetary policy of govt currency, but potentially offers greater benefits. Being outside of the legacy banking system could prevent govt capital controls from being inescapable, causing govt to have to walk things back in order to save face.
This would be a good debate. Would love to hear this flushed out a bit.
I can't trust stable coins. If you have better decentralized options why not adopt them at once?
