Subnostr

If #Bitcoin is legitimized in the United States as a store hold of value, effectively granting all citizens the ability to opt out of inflation, then what is the usecase for a dollar stablecoin?

Surely it is to roll out a social credit state like Europe is attempting to do (in China's footsteps).

This is why the development of freedom tech like nostr:nprofile1qqst56gyvmerl23cj9tscz3caqws48uy577v09nj6xw34we0cyg4duqppamhxue69uhks6tswd68ytnr0gqs6amnwvaz7tmwdaejumr0ds4xz88d is vital for our hope in a future without chains.

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Discussion

Boog 10mo ago

Humans are addicted to credit. Like it or not someone somewhere will develop a credit product on top of Bitcoin

sitting at an airport bar 10mo ago

Credit is a product of the inability to save because of inflation.

Boog 10mo ago

Hardly. It’s a promise to pay back. You should read nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a broken money.

Laser 10mo ago

Will be much more orderly than the fiat alternative over time considering there is no bailouts.

sitting at an airport bar 10mo ago

There isn’t but if it makes politicians feel better in the short run…….

Sourcenode 10mo ago

The current establishment will want to maintain the dollar as long as possible. Doing so will make the transition (that they seem largely unaware of) much smoother.

There is a huge demand for dollars internationally. The fiat system had no simple means of filling that gap until stablecoins.

Tether could tank one government currency after another until the whole world has transitioned to bitcoin.

Perhaps that's an overly optimistic take, but with the current variables as they are this seems the most likely outcome.

In the meantime we need to focus on the open source freedom tech that helps us escape the walled gardens. (Preaching to the choir there)