I also enjoy reading Arthur’s take. He has great visibility from his experience, and I appreciate his irreverent writing style.

There will be many stablecoins, issued by banks, buying treasuries forever. Trillions coming. Eurodollar, gone. Dollar Cash in South America? Gone for stablecoins on everyone’s phone.

“Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone." - sn

Lost stablecoin would not be a gift to every other holder, rather straight into the pocket of the issuer as collateral and treasury yield, forever.

Many on the planet are going to end up with some dollar-based token. Most likely on several popular blockchains, none of them Bitcoin.

We have to understand the ramifications of this, and fiat exchange for Bitcoin.