polynya
@polynya
It's evident that alternative store-of-value is >90% of the demand driver for the crypto industry, and arguably the only demand driver for its dominant asset - BTC. Yet, it seems there's very little investment in improving this dominant usecase and biggest success story. BTC remains a ticking time bomb, and aside from BTC & ETH, most crypto assets are high inflation dumpsters (literally, for VCs).
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Oxytocin
@oxytocin
As boring of an answer as it is, for most people there's very little point keeping a store of value on ETH/BTC when stablecoins exist. If you are uncertain enough about your local economy to try out decentralized alternatives, a USD denomination is safe enough. Expect to see less VC alt L1s and more stablecoins like PYUSD as more and more people notice this.
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Nico
@nico9111
What? How can a stablecoin be a SoV when it’s 1:1 pegged to the worst SoV ever, fiat currency?
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PhilH
@philh
It depends on the country you live in. Debasement of USD isn't an immediate problem for most people, whereas using a currency that quickly drops vs $ is a massive pain, or even a matter of survival
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