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36 sats \ 3 replies \ @0xbitcoiner 27 Nov \ on: Leftist take on bitcoin and stablecoins bitcoin
I’ve heard some of Varoufakis’s takes on Bitcoin and crypto in general, he’s totally against it. He says only governments should be able to print money. As for stablecoins, yeah, they’re obviously different from what Bitcoin aims to be, but I also think stablecoins kinda ‘steal’ users from Bitcoin. I think it was Ark Invest that lowered their Bitcoin price prediction exactly because of that.
Here he is enduring hardship like his fellow Greeks during the financial crisis:
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Stablecoins steal some of those users from third world shitholes who need to escape their home currency, which is something the dollar itself had always done.
But if you are confident the dollar itself has a finite number of days as the global reserve, then those stealing are also temporary as those those same tether holders will flock to Bitcoin when shit hits the fan (e.g. tether rugpulls that are happening get more coverage instead of getting covered up)
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Those users who go for stablecoins instead of Bitcoin aren’t in a place to think about the mid or long term, they’re just trying to get by day to day.
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