Shake this thought: stablecoin issuers are emerging as major buyers of short-term U.S. debt. They hold more than the insurance and diversified giant Berkshire.

Firstly, the Y2k of bitcoin and elephant not in the room: Tether. Critics like parroting mainstream talking points and march on about Tether’s inevitable implosion because they don’t understand Tether is like a plover bird to the U.S, the bird that crocodiles open their mouths for, so it can peck their killer mandibles clean. It’s a symbiotic evolution. Tether isn’t going anywhere, not unless chartered banks encroach on their business and slowly absorb it. Not only is Tether a large buyer of T-bills, but they also tour the world dollarizing the living shit out of it. They’re greasing the rails everywhere, from being the official currency of the US-backed Myanmar unity government, proliferating in Africa (curiously in places where China is trying to gain footholds for natural resources with their debt and Yuan, including BRIC nation South Africa), to capitalizing too many bitcoin companies to name.

Tether's daily trading volume averages $52B, which on most days is about as much as every cryptocurrency in the world—including bitcoin—COMBINED.

Tether settled $18.2T last year. That’s almost as much as Mastercard ($14T) and Visa ($7.7T) COMBINED.

That’s just Tether. PayPal is working on a stablecoin. JPMorgan has its onyx platform in beta. Several smaller banks are hiring for stablecoin development. We already know USDC, Dai, etc. And Moody’s (the financial ratings agency) is working on a global stablecoin rating framework.

The U.S. dumped gold in 1971 knowing they had something better to link to the USD: petrol.

Enter: petrodollars.

This allowed the Fedboise to expand its monetary supply slowly, but safely, for 50 years, with no apparent loss in demand. That’s coming to a close. Everyone sees it. From green energy initiatives, the end of Middle East occupations, the assertion of independence, the rise of China, debt, and so on.

Enter: Bitcoin.

Yes bitcoin, and here’s the important thing that Tether did in this regard:

Tether, by expanding so rapidly during the first part of Bitcoin’s life, when 92% of bitcoin’s total supply was issued, allowed the U.S. market to make sure the value being inscribed into the protocol would be related to the dollar system. The BTC/USD pair dominates trading volume to the point the game is over. This pair, wether it’s USD or USD equivalents (stablecoins) has won. This means the U.S. has cornered a large piece of the energy market. How? Because in order to mine, you need both silicon (ASICs) and energy. I’m not talking about the mining economy of scale—which is access to capital and cheap electricity—I’m talking about the capex (capital expenditure). So if you expand your energy and acquire silicon to mine, you get bitcoin, which is tied directly to the USD. Thusly, any expansion of hashpower energy, is an expansion of the USD. This is the Softwar Jason Plowery should've talked about, instead of 400 pages misnomering PoW's usefulness.

This perhaps will make more sense when stablecoins begin proliferating on the Lightning Network via L1’s atomic unit (satoshi) in a brilliant sat seignorage scheme, especially when anyone in the world can access the Lightning Network with just a phone. Thunderboise 🤪. Perhaps something wicked this way comes, but in my opinion this will fix the money fix the world over the longterm.

I reject the notion that the USD will suddenly die, and reject the notion that bitcoin will transition the world’s value without Trojan Horsing the USD in an intimate way. Also, while bitcoin security budget saviors seem interested in thrusting inscriptions, forks, chains, and their expedience inside the womb of a 15-year-old protocol, I’m thinking the future of [most] mining hashpower should converge on something more legally tenable. A post for another time.

Rebuttals please. Sats for hi-rez replies as always. You know the rules.