Is the dollar a shitcoin?

Stablecoins are just fiat, typically dollar based.

I don’t think they are shitcoins. Contrary to the belief you need dollars to get goods and services. Most shitcoins are worthless only bought to get more usd why? To buy things!.

If I offered everyone who voted yes $1 million USD or one million XRP tokens everyone would choose the USD. Why?

Because we all still need USD!

Shoot you use this voted upon shitcoin to buy bitcoin.

Until people stop accepting USD for payment of goods and services it will never be a shitcoin.

Don’t let the politics and the fraud lead you to believe the usd is not serviceable in any way like 100% of the shitcoins you see on coinmarket cap.

I believe the usd will turn shitcoin when no one wants it for goods and services. Until then I refuse to call something a shitcoin that has tangleable value in the real world.

Shitcoins are worthless. If you think you USD is worthless then send it to me and I’ll buy food, energy, water, and bitcoin with your shitcoin usd.

They are, but so are digits in fiat bank accounts. Really they are just another fiat payment routing clearinghouse. They work better than SWIFT but slower and irreversible.

I think they are mainly there and continuing to do well due to being an easy pathway between fiat units and satoshis, riding on Bitcoin's value, which more or less proportionally tracks with the amount they have circulating, give or take.

If nothing else, it brings people into two more clicks to stacking sats. Of course they are irrelevant under a bitcoin standard since nobody's using that trash anymore but for the time being, it's got its benefits and it impedes our enemies more than it does to our cause. They are the gateway drug from forex to bitcoin.

Dollar is nothing more than a big shitcoin - because is losing a lot of its purchasing power every decade.

So obviously every USDT, USDC etc which mimics shitcoin - is also shitcoin by definition but even worse - because with: yet another possible point of failure :)

Stablecoins are a perverted form of fiat, they take all that's wrong on the system and wrap it on a "blockchain" that allows to make more damage than the greenbacks.

No, everything will settle on Bitcoin.

Network A is of size X, Network B is of size Y.

If X > Y, B is incentivized to become interoperable with A more than A is incentivized to become interoperable with B.

Shitcoin if any is a yes.

Stablecoins are "stable" only up to a certain point, which cannot be predicted.

Without any doubt whatsoever.

Always yes

I see that Telegram have enabled Bitcoin in their wallet app, but you cannot disable displaying their shitcoin token TON (though they let you disable USDT)..

Of course they are. Next question.

Fiat is a shitcoin. So...

No, if there is something or someone reputable behind it

Stablecoin conversions will also depend on markets for the stable coin if there are swap lines available, and who wants to deal with that?

Another layer of complexity is that stablecoins are blockchain agnostic; you can find USDT (Tether) on more than five different blockchains. Now depending on the chain, I prefer, this may cause conflict. Yes, we both have USDT, but the chains don’t talk to one another, and again, one party will need to pay the cost of swapping to another chain.

These cross-chain swaps can add unnecessary cost and friction when conducting transactions.

Stable coins are worse than shit coins... they are an imitation of the ultimate shit coin (fiat).

They are only shitcoins if you consider the corresponding fiat to also be crap. Despite the faulty economics behind USD (& other fiat) and the mathematical inevitability of it behind severely devalued at best and hyperinflated at worst, we still need dollars. This isn't just from a legal standpoint of taxes and trade contracts, but practically speaking, the dollar is still the most widely recognized and accepted currency by merchants. In my opinion, this choice is just a development that needs to be monitored by individuals going forward, the same way that states do so.

bit is it if its not bit… its shit

are stablecoins really just savings accounts with a fancy name? Far as I can tell, you would use them to earn interest on your cash while retaining the value of the cash in that currency.

There's only one response I'm looking for in the comments

Is the underlying asset a shitcoin?

I think this is a great explanation on why Stablecoins are very Sh!tlike

Yes no question about it. They just happen to be really useful ones for businesses and people that don't have the means to deal with bitcoin price volatility. So, necessary shitcoins ja.