The clock for the USD as world reserve currency is ticking. The energy providing countries trying to denominate energy in different types of currency baskets now seem to execute the evolution of currency.
Powell already signaled that the Fed will be OK with a second settlement layer for inter. trade...
12 sats \ 4 replies \ @muteness11 29 Jan 2023
while i agree on the outcome but I believe it will take a long time.
Stabelcoin will even prolong USD as a reserve currency as individuals globally will have a tendency to hold stables (Im already seeing signs with my own eyes ... ppl have stables on their wallets (not local fiat) and they even transact with stables)
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1 sat \ 1 reply \ @NorthKoreanHostage 29 Jan 2023
Stablecoins are all scams that prey on their users. It is exactly as predatory as any other custodial money scheme.
Bitcoin fixes this. I wish you understood this.
You want the volatility.
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0 sats \ 0 replies \ @muteness11 29 Jan 2023
its not what you and I believe, its actually completely irrelevant as I'm not looking at it from a morale standpoint but rather what is happening on the ground!
While volatility is something you and I are comfortable with but many others arent (they just didnt go through Bitcoin rabbit hole)
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0 sats \ 1 reply \ @TomK OP 29 Jan 2023
Yes that's correct. I think the rapid adoption of usdt is the reason the Fed doesn't intervene and lets it grow further. They really do not need a cbdc (except wholesale) to spread their monetary "evangelium": long live the USD colonial power!
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0 sats \ 0 replies \ @muteness11 29 Jan 2023
In principle I agree, but there maybe a time where the US govt. coerces stablecoin issuers to ultimately control them and they can become a de facto CBDCs
The undeniable fact is no one knows what will/can happen in the future :)
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