kenny 🎩
@kenny
I feel for anyone worried about stablecoins but long term I believe we need to leave them behind the core mission of crypto is separating money from the state USD on the blockchain doesn't further that mission, causes centralization, and paints a regulatory target on our back TL;DR https://i.imgur.com/7k0Rb2G.jpg
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Brent Fitzgerald
@bf
there is no core mission of crypto. if it's actually decentralized, there's no core at all. but one big value of crypto has been decentralized and trustless consensus and coordination. money was a great first early use case for such coordination.
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kenny 🎩
@kenny
that's fair, it's only my personal opinion that the most compelling first priority of crypto should be to permanently separate money & state and while I agree it's important for decentralized+trustless coordination, to fulfill its potential in that role widespread adoption of money/state separation needs to succeed
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Jackson 🎩🍖
@jacks0n
We need on ramps tho, ppl need to feel the warm hug of the USD on chain before they can let go
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Brent Fitzgerald
@bf
🫂 But to be real, there will never be a mass letting go. Existing nations and their currencies aren’t going away. They are a layer, this is a different one. Interop currently sucks.
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kenny 🎩
@kenny
Agree to disagree there, if crypto hits escape velocity it kills all other currencies. Nation states won't have to go away but the wing of their bureaucracy that handles fiat will become as outdated as the old infrastructures that used to handle the state religion.
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