The Great Irony of Stablecoin

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2 pointskrrishd3 comments

Stabelcoins are\will be nothing more than glorified digital dollars\CBDCs, of which there are many already, that will proliferate USDs 'exorbitant privilege'.

The only real revolution in/for/from 'crypto' is BTCs double spend PoW solution/it's ability to be defi p2p cash for 15+ years and running.

I think this is sort of right - I do think the fact that they're ERC-20s makes them the "trojan horse" for the broader ecosystem.

Suddenly DeFi is interoperable with "more real" money, suddenly BTC is usable as permissionless collateral for USD-denominated loans (see Morpho), etc.

Indeed, a strange forward-thinking reversion back to a hard money standard to have BTC backed anything.

Whatever $€£¥₹₽^x to BTC bridge exists, I'm all for it.

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