I am hoping Bitcoiners will stop pushing and defending stablecoins "for the poor" after this. If they continue it's because they fell they're part of the annointed class of "non-poor". Or whatever the crap they say, "global south".
Discussion
i mean adam goes on and on about tether
10/10
Bitcoiners also say dumb things and have dumb ideas. We aren’t immune from making bad judgements.
Most none US ppl in developing world seem to want dollars for dollar like instruments denominated in dollars.
ye, that behavior really needs to go
third world countries clinging to dollars is like boomers clinging to gold
From trade perspective, most trade globally happens in USD (Except for Briics related - China, Russia, Saudi I’d reckon) . To adapt Bitcoin ecosystem, on ramp / off ramp might make sense with USD pegged stable coin, but with the assumption this is to enable Bitcoin ecosystem at large. I’m all in for Bitcoin-only but just wondering how to start leveraging Bitcoin as utility on a global scale.
Problem is the dollar is getting unstable due to high inflation courtesy of ridiculous gov’t spending.