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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“Welcome to Gift Cards! We run a midsize financial institution with more branches than most... inside a coffee company. We experience substantial adversarial attention from criminals and regulators. Please don’t blow up the coffee business; we’d be upset.”
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I bet it's a lot like running the rewards program for a large airline. I got to work with some of those people a little bit, and they were awesome, even though they made my life really hard at time time (they were right, totally our fault :)
End of conversation
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