YC's view on Stablecoins: Midwit take or first-principles thinking?

I believe YC is correct that stablecoins and RWAs will be a megatrend - the opportunity is presented accurately. I like their digital music analogy - but it's based on the wrong narrative...

Meme from @mdudas

investing @6thmanventures - building /links - founder the block

Web3 Baker @PretzelDAO (🥨, 🥨) | @areta_io | Prev Crypto Research @Cambridge_Uni

https://twitter.com/ycombinator/status/1772337658703884414

https://t.co/ipXATFmBtG

YC: "Crypto doesn't represent ownership in something real and valuable, so representing $USD ownership is the way" - that's not true

Alternative: Stablecoin Finance can serve as a bridge between TradFi and DeFi to initiate a new era of finance. It is set to be crypto's first killer app

100% agreed on this one. The "Crypto doesn't represent ownership in something real and valuable, so representing $USD ownership is the way" narrative missed the mark.

Still - very bullish on stablecoins being cryptos' first killer app.

yeah, the meme was more about their lame take on non-stablecoin parts of crypto