Nostr Web Client

Ask an Argentinian, Lebanese, Turkish ...

"Long-term is Bitcoin, yes. But we also need free, censorship resistant, non-volatile money in the short and medium term that can be converted into legally accepted currency for daily expenses. Stablecoins pegged to the strongest existing fiat currencies offer this."

But these stablecoins should be as free as Bitcoin. Decentralized and 100% pegged by hard money. That's why projects like Sovryn (@SovrynBTC) are so important in my opinion. We'll see if they are secure. Sovryn Dollar (DLLR) will be available soonest.

https://sovryn.com/sovryn-dollar

simulx 2y ago

no longer needed. it is dollars that are the cause of volatility! start pricing real assets in bitcoin and the volatility quickly goes away

Reply to this note

Please Login to reply.

Discussion

Seodan 2y ago

Volatility will go away eventually, yes. But not quickly. And that's why stablecoins are in demand.

simulx 2y ago

its the other way around. the use of dollars is causing the volatility

Seodan 2y ago

Perhaps. But full on Bitcoin adoption right now is a theoretical scenario.

We have fiat now. Accounting is done in fiat now. The transition will take time. Making people get used to the concept of a deflationary currency will take time.

I can only think of an instant adoption with a huge catastrophe causing/accompanying it. And I don't think we wanna experience that + I don't think Bitcoin would be most people's choice just yet.

One of the beauties of Bitcoin is that it allows for a peaceful transition. First ultrasound reserve asset, then more and more medium of exchange and unit of account. Then stablecoins will become obsolete.