It’s underremarked upon that stablecoins accomplish basically all of the original design goals for Bitcoin qua a transactional mechanism (instant free value transfer anywhere), but that nobody cares about this because nobody ever cared about that part of the pitch.
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The Bitcoin ecosystem is *positively allergic* to credit, so you have to call it a coin for them to accept it. And after you call it a coin they ignore everything the world has learned about credit, like risk management.
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“Stablecoins aren’t credit!” They’re pretty much exactly credit? A tether is a zero-coupon Bitfinex bond with a non-functioning call option. I
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I wouldn’t say it this way. The longer the settlement time, the longer bank/broker capital is tied up against possible trade failure. Quicker settlement frees up billions in capital that can be used in other ways
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Neat side note, this is exactly how all international transfers take place, thru large bank-to-bank mirrored slush funds (credit)
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