0 sats \ 0 replies \ @KeynesianClowns 24 Apr 2023 \ on: Are Stablecoins Shitcoins? bitcoin
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.