0 sats \ 0 replies \ @om OP 31 Dec 2022 \ parent \ on: Fiatjaf asks the right questions about stablecoins bitcoin
How are they not already? Companies can't just make their own monies.
Indeed, Facebook's Libra/Diem was strongly prohibited by the gov, and it's a perfectly good question why Circle and Tether had better luck than Facebook.
I believe that the US gov hated Libra's peg to a basked of currencies and disliked Diem's peg to national currencies. US gov wants people around the world to use coins pegged to USD. This way the international demand for USD absorbs some of the money mass that comes out of the printer while providing some goods in services to US for free... I mean, in exchange for the newly printed dollars.
All Shitcoins should absolutely be shut down by law enforcement with the same ferociousness as they do bank robbery.
The gov might not be able to shut down Bitcoin but it's more than able to beat you up. Be careful what you wish for.
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