more people use stablecoins and they think it is better for payments. a large movement of people and governments are pushing it to be integrated as a global cbdc. I feel obliged to make fun of it at any opportunity.
Discussion
This is just one reason why we love you, dude!
The EU is the best version of this stablecoin circus story:
Take a thing which only two redeeming factors are that it by-passed all existing KYC-AML bullshit and supposedly was full reserve:
EU:
Create legal frameworks for it, and force (parts) of the reserve to be held at fractional reserve banks.
Except the “stablecoins as global CBDC” seems like FUD to me. They are on completely different rails.
Moreover, as stablecoin “savers” watch their (USD-correlated) wealth continue to deteriorate asymptotically against Bitcoin, they will trade-up. Eventually.
His is ALL in service of systemic hyper-Bitcoinisation IMO. 🧡 🚀
This. Not His. 🤪
The beast has to try something to prop up demand for treasuries. It’ll be good enough for most people but it’s a gateway drug. Now they’re playing in our world: cyberspace. Good luck competing.
theyre going to back them with US treasuries to try to keep the dollar afloat.