Realistically, the asset class itself is at the foundational installation phase (obvious, widely acknowledged opinion; c.f. Perez, etc).
-
Show this thread
-
Current implementations are jumping the gun, since they themselves are abstraction layers contingent on the proper installation of the underlying protocol.
1 reply 0 retweets 1 likeShow this thread -
Arguably, there might never be a real need for stablecoins in the first place. At a high level, a stablecoin's competitive advantage as MoE is inversely proportional to the friction of conducting cross-currency exchanges (volatility + financial cost).
3 replies 0 retweets 2 likesShow this thread -
Replying to @alexanderliegl
Do you think transferring large sums of money into and out of 2nd and 3rd world countries is easy?
1 reply 0 retweets 0 likes -
Replying to @MustStopMurad
Should have clarified, cross-cryptocurrency exchanges.
1 reply 0 retweets 0 likes -
Replying to @alexanderliegl
Either Bitcoin’s big success or a functional Stablecoin’s big success could literally help people in hyperinflationary nations and even cause the collapse of oppressive / monetarily incompetent regimes... much bigger implications than just trader arbitrage.
1 reply 0 retweets 0 likes -
Replying to @MustStopMurad
Yes, I agree with the value-proposition stablecoins have; that's not what I'm arguing against. Instead, I'm saying that their argument is unsound because their premises don't hold.
3 replies 0 retweets 0 likes -
Replying to @alexanderliegl
Also above you said “There might never be a real need for them in the first place” :) Which is provably wrong. My aunt in rural post-USSR with low shit fiat salary & no access to dollar or sophisticated low-risk financial instruments, would love access to a stable store of value.
1 reply 0 retweets 0 likes -
Replying to @MustStopMurad
That point is contingent on the premise that current solutions will minimize the hypothetical competitive advantages of stablecoins. Your aunt would get access to stable SoV from current solutions.
2 replies 0 retweets 0 likes -
Replying to @alexanderliegl
Here is my problem with this. If you look at existing, fixed-supply coins as a “product”, then it’s only a good SoV after it’s already huge (3T+?) ... u feel me? Stablecoins (assuming they work) can offer stability even at 50million mcap. The promise is crazy.
2 replies 0 retweets 0 likes
She can’t use Bitcoin today to save her salary 6 months into the future with probabilistically strong certainty
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.