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kenny 🎩
@kenny
gm fellow stablecoin disrespectoors
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androidsixteen
@androidsixteen.eth
real answer? international txs using existing rails cross-border is an incredible pain
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kenny 🎩
@kenny
well yeah but it really only works because of regulatory arbitrage sending money cross-border could easily be faster in tradfi but they're heavily regulated there's nothing fundamental about stablecoin USDC/USDT decentralization that makes them better for cross-border other than the fact bureaucracies move slow and haven't regulated them to death yet
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androidsixteen
@androidsixteen.eth
Well that is the fundamental thing imo: “You never change something by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” - Buckminster Fuller Agree that the risk is that the new thing (stables) also gets heavily regulated and captured But USDC is a wedge to truly decentralized stables
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kenny 🎩
@kenny
imo the new model that makes the existing model obsolete isn't stablecoins, it's real decentralized crypto (bitcoin/eth/sol/doge) if we end up in a world where crypto's main use case is stablecoins (even if they are decentralized, which may not even be possible at scale), we've failed the goal is create a new dominant form of decentralized money, not strap the existing bad money "onchain"
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