stablecoins are .1% "training wheels for users to eventually buy bitcoin" and 99.9% a USD foreign policy and fiat dominance super weapon for US crypto colonialism.
gm.
Discussion
Too few people will get into stablecoins and then choose #bitcoin 🥲
Maybe 1% is too generous 🙃
gm!
for some reason people are happy to get dollars anywhere. Once surveillance and inflation kicks in, the jump to bitcoin becomes easy
Agree. But it somehow creates an interesting dynamic, whereby Tether profits from the system so immensely, that once their BTC holdings are large enough (and it becomes common knowledge that USD is a worse store of value than BTC), they could pull their customers into just using sats via lightning
Maybe wishful thinking here, but I’d love to see that happening. In the end, custodial BTC will always be better than custodial usdt
Stablecoins should be called pegged coins.
They are pegged to the value of something else
Au is pegged to gold. (Essentially the same as owning gold on the stock market)
USDT is pegged to USA dollars.
You're 100% about anything that's pegged to a fiat currency.
Just a means for the global banking cartels to maintain control.
Absolutely, "stablecoins" are pegged to shitcoins like USD or others, therefore they should be at least called pegged coins or maybe fiatcoins ... Because they are absolutely not stable at all!
Yes agree. But the underlying problem of inflation will remain and all fiat (stablecoin or not) will continue to fail. So I don’t think stablecoins push ppl one way or another on whether they see the value of Bitcoin. They’ll continue to buy Bitcoin at the price they deserve.
GM
Good morning, Calle! 🌻💜🤌
GM
USDT has saved me when I've forgotten my wallet and wanted to make a purchase.
I appreciate USDT and would rather use it than BTC. I only use BTC with local family owned and value aligned businesses.
morning Calle
plus privatised cbdc's