Thanks to FC I've been diving a bit more into stablecoins lately and see a lot of the potential. But am I wrong in thinking that it mostly (for now) is just externalizing a lot of the costs/inefficiencies/regulations to the end user? Obtain wallet, buy coins, pay transaction fee, pay taxes, etc. Please forgive newb and/or stupid question.

Good questions. Over the next few years:

1. Wallets will be embedded in every mainstream fintech app

2. Ability to convert USD to USDC will be seamless / invisible

3. No difference in taxes with a stablecoin compared to fiat

4. Transaction fees — the onchain fee will go away (likely covered by the app) and the e-commerce fee will likely go down since Visa / MC duopoly can't extract 3%

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

5. Replace fedwire and swift for international remittance

Completely agree. 

Do you think having other stables like Tether hurts or helps web3? 

In theory competition is good, but do you think it’s too divisive and unnecessary for a stable?

Yup that's what I was looking for. Very compelling.

Au contraire re: #3

Digital payments mean taxes can be calculated for you and paid with a click of a button

Already the case in Estonia and much of Africa