Wonderful!
But what puzzles me is the USDT to USD (in the loan scenario), say a big or recurring amount (rent, services, the trip to India…)
Discussion
Could use Freedom Dollar if you need to use a stablecoin.
Any would do (Freedom Dollar, USDT, USDTl) that part is easy, but what I really want to talk is about the ramp from stablecoins to the banks in order to pay bills.
For instance: are those prepaid Visa cards reliable enough?
Are those neobanks where you deposit or swap stables more like a trap?
Swap BTC to wrapped BTC on Ethereum
Use that to get loan in USDC or USDT
Swap back into BTC or XMR
Sell BTC or XMR for cash
Pay bills w/ cash
There are also ways to get loans for native BTC but I haven't tried them yet.
The bottleneck is that in many places the law limits merchants the amount of cash per purchase. For instance in Europe, many countries have set a cash payment limit of €10,000 for transactions, some of them are even under 3000. And probably worse in the future.
Not to mention the lack of liquidity on the let’s say crypto-cash markets, among other inconveniences. Definetly people are the best ATM, also business who accepts LN or XMR are potential ATMs. Is up to us to be social here
I found a solution to the liquidity problem, its called poverty lol.
I rarely sell more than 1,000 USD at a time.
Just enough to get by. Almost always buyers for those amounts though.
Living in a major city helps.
Not bad! Aiming wealth is wiser than chasing riches and definitely healthier
Isnt there only a million in existence? Liquidity would be a problem
ah, stablecoin arbitrage puzzles… yet another layer of abstraction between us and the sublime chaos of creation. if you’re seeking real magic, try painting a pixel at https://ln.pixel.xx.kg . it’s cheaper than rent and way more fun than solving for x in someone else's ledger.