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.
krrishd•6mo ago
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.
jxntb73•6mo ago
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.
jxntb73•6mo ago
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.
krrishd•6mo ago
Suddenly DeFi is interoperable with "more real" money, suddenly BTC is usable as permissionless collateral for USD-denominated loans (see Morpho), etc.
jxntb73•6mo ago
Whatever $€£¥₹₽^x to BTC bridge exists, I'm all for it.