I know we hate stablecoins, but if we want people to use bitcoin instead we should understand them well enough to form better arguments and alternatives, much like studying pix in brazil.
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121 sats \ 2 replies \ @Coinsreporter 6 May
It's not the stablecoins that are hated but the companies behind them.
Stablecoins can be real worth (in fact they are better than paper trash), if they are based on Bitcoin.
I just wanna know if there are any efforts being made in te direction of creating a stablecoin based on Bitcoin.
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10 sats \ 0 replies \ @SwapMarket 6 May
Taproot Assets may end up creating a stablecoin for Lightning. Liquid has L-USDt.
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0 sats \ 0 replies \ @037447d9ca 6 May
Of course there are:
- DOC: Money On Chain
- ZUSD: Sovryn Zero
- DLLR: Sovryn Dollar (which is just a basket of the previous two)
I am sure there may be others running on Liquid sidechain.
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55 sats \ 4 replies \ @grayruby 6 May freebie
I don't hate them per se any more than I hate non tokenized fiat. They have utility.
I don't trust the issuers and they give shitcoin chains a modicum of validity is why I personally don't like them but I see their utility for folks in the developing world who don't use bitcoin because a) not enough merchants accept it or b) it's volatile.
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150 sats \ 3 replies \ @kepford 6 May freebie
This is pretty much where I land on this topic today. Just finished Gladstein's book and I can see the utility in the short run just as on/off ramps have utility in the US today.
The older I get the looser I keep opinions, especially when they are in things I'm not living through.
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55 sats \ 2 replies \ @kepford 6 May
In the end... my opinion is just that. Doesn't really have much of an impact unless I have skin in the game. We in the US have much less on the line in regards to money than most of the world. By that I mean they need it more than I do. I'll prioritize what I need but I'm mindful of a world I'd like to see and that greatly affects my decisions.
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64 sats \ 1 reply \ @grayruby 6 May
I also think as much as Americans, Canadians (in my case) and our friends in England and most of Europe like to harp on our domestic fiat currencies being trash (and they are), those currencies are very stable compared to what much of the world deals with.
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50 sats \ 0 replies \ @kepford 6 May
Exactly. Either the currencies of most of the world are based on "our" fiat currencies or they are controlled by "the west". The host nations do get some things for the currency de-basement. Social programs, infra, etc but these other nations get little to nothing but larger debasement. Then you couple that with no access to saving tools means you have massive populations living hand to mouth.
Then you have the west obsessed with carbon neutral energy when much of these countries do not have reliable energy sources. Basically they are screwed. Condemned to live in poverty under oppressive fiat currencies.
This is what I meant by me not having skin in the game.
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0 sats \ 0 replies \ @riberet19 6 May
Stablecoins aren't bad in general, it's just that the companies that issue them aren't trustworthy as there's too much evidence that most of these stablecoins aren't backed 1-1 with the asset they claim to be, let's just look at USDT.
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