I'm just pointing out the insanely obvious. Look at USDT transaction volume on TRON, it's like $25 billion a day. A DAY! And these are mostly paying for stuff transactions, not people playing the currency markets.
There's just no denying that stablecoins have won the MoE race. Other things like Zcash or whatever will always have their niche and that's fine. But these niches are tiny little sideshows in comparison.
USD is a dying fiat credit system. Stables are just unbacked fiat claims on top of fiat created from thin air.
It works until it does not. It has zero privacy aka fungibility and therefore will never be real money. On top of that it can and will get frozen.
We are mid race.
Nah. All money is human imagination. All of it. That goes for fiat the same as it goes for bitcoin, as it goes for monero, as it goes for anything. It's all a shared delusion, the moment humans stop agreeing that it has value then it has no value.
Compare that to a coconut. The value of a coconut does not depend on us all agreeing with each other that it has value.
Philosophically yes, it's a helpful shared illusion.
On a practical level (within this shared illusion) neutrality aka fungibility is one of a handful prerequisites that differentiate money from (social) credit or other forms storing value.
Sure, but it all operates within this shared illusion in which any seemingly objective factor or prerequisite is still just part of the lore, which feeds the agreement, which is everything. Like for Bitcoin, there’s only 21 million. But that is just part of the lore. There are only 26 letters in the alphabet. I could make a currency right now with 26 tokens, each locked to an alphabet letter. It would have no value. Because it hasn’t accumulated agreement. Therefore the value is 100% in the agreement and 0% in the objective constraint, be that objective constraint 21 million or 26.
It's all marketing in the end. Whichever money has the best marketing has the most value. And if a neutrality narrative helps the marketing today then great for today, but it might not help the marketing tomorrow. It all just depends on what people want to hear at a given time.
