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I don't know. If China had the means to take over my country and they had a better the currency than mine, I think it'd probably be time to get Chinese stablecoins.
Why would threatening adversaries matter here?
Because if you look at the half that got implicitly/explicitly targeted, basically Brazil/Mexico/Colombia, I don't think that the population identifies as adversary.
I do think that those you threaten will feel less amicable, and more open to alternatives.
Thinking of it, now is a great time to orange pill.
Of course it’s a good time to orange pill, but people care about their pocketbooks more than their ruler’s job security.
If using dollars is better for their families, then they’ll want to use dollars.
That's a hell of a lot of stable coin issuance. I don't think there's enough global demand for stable coins to soak all of that up.
My personal opinion is that it would take a lot more adoption than we've seen, but I'm certainly not an expert.
You don’t think stablecoins will be able to soak up the slack?