Replying to Avatar L0la L33tz

https://m.primal.net/PmjP.mov

"With the Dollar backed stablecoins, you'll help expand the dominance of the US Dollar [...] It will be at the top, and that's where we want to keep it"

What he means is:

with Dollar backed stablecoins, the Global South will pivot towards digital Dollars over local currencies, allowing private, US Gov controlled entities to replace bank accounts around the globe.

This does not just allow for the expansion of USD dominance by bypassing local governments – it gives the US unprecedented and direct control over worldwide economies as every stablecoin can be effectively frozen on behalf of the US with the click of a button.

Additionally, it will provide the US with never seen before surveillance capabilities, providing real time access to financial transactions around the globe – fueling the unparalleled public-private partnership between Silicon Valley and the US war machine.

If you are promoting stablecoins, you are promoting the end of national sovereignty in favor of total techno-fascist dystopia.

Well, the reality is that it's not easy to track these things. And there's already plenty of privacy tools that allow for privacy in transactions. Even Ethereum didn't blacklist OFAC censored addresses at the protocol level. And then more privacy tools will be created on Bitcoin L2 and side chains like Lightning, Taproot, Liquid, etc.

I believe this is a very positive thing because it'll bring USD stability to many more people.

In the worst of scenarios we might end up with black market USD and clear market USD.

Either way I think that's beneficial for economic stability of billions of people.

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