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drewcoffman
@drewcoffman.eth
the word ‘stablecoin’ feels off. explained it to someone new to crypto today and it didn’t really land. but “onchain dollars that are fast, global, and fully yours”? that clicked immediately.
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typeof.eth 🔵
@typeof.eth
“Onchain dollars that are fast, global, and fully yours” is a little long, though /s Real talk though, I feel like a few of those things are subjective or imply things that can be confusing E.g. stables can track any currency, is cash not fully mine, some stablecoin contracts can freeze assets, is USDC fast if I have to bridge I’m probably splitting hairs but I think a simpler definition is better. Stablecoins are cryptocurrencies* that match the price of another currency like the US dollar *Wish there was a better word for cryptocurrency but I can’t think of one and, ignoring any biases, I think that’s the word most people know tokens by
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drewcoffman
@drewcoffman.eth
you make good points, i think “there are coins where the price goes up and down and there are coins where the price always stays the same” is an important distinction for people who think buying crypto always means they might lose it all
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typeof.eth 🔵
@typeof.eth
Absolutely. Words are hard, though. Even stablecoin is flawed as the price is only stable relative to the pegged currency Maybe we shoulda called em pegged coins? Pegs? But even then we’d be wrong when a country starts managing their currency onchain and there’s no peg, just the currency
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