I do think that one pathway to the "collapse" of the state's fiat monopoly is a gradual accommodating of alternate payment methods.

I don't really know if stablecoins count as that though.  AFAICT stablecoins are still giving the government what they want which is control over the money supply (since on paper, stablecoins are pegged) and visibility into how people are spending it (KYC/AML).

SimpleStacker

I don't think most bitcoiners are expecting any willful deregulation of the state monopoly on currency.  Most bitcoiners probably just think that bitcoin gives people a way of opting out of the state monopoly, and if enough people opt out then the monopoly collapses.  How that exactly looks or plays out, I don't think anyone knows.

Does the likes if tether et al stablecoins constitute deregulation though? Maybe I don't fully understand how these work. Aren't thether basically buying the right to issue digital currency?

It feels like if the governments continue embracing these then we will get some letting-off at least in the sense that more is left to private enterprise.

the_stacker_muse

BooksAndArticles

econ

[Book Non-Club] The Machinery of Freedom, Part I

billytheked

> I don't think most bitcoiners are expecting any willful deregulation of the state monopoly on currency.  Most bitcoiners probably just think that bitcoin gives people a way of opting out of the state monopoly, and if enough people opt out then the monopoly collapses.  How that exactly looks or plays out, I don't think anyone knows.

Does the likes if tether et al stablecoins constitute deregulation though? Maybe I don't fully understand how these work. Aren't thether basically buying the right to issue digital currency?

It feels like if the governments continue embracing these then we will get some letting-off at least in the sense that more is left to private enterprise.