Here's the issue with the stablecoins --> bitcoin supposed pipeline meme.
The steps:
1. Add stablecoins to <x>
2. People become familiar with blockchain tech
3. People realize bitcoin better
The reality
1. Add blockchain exposing anything to <x>
2. People use something else
Nothing will gain mainstream adoption by adding tech that no one cares about. No one adopts any new tech by learning about the underlying mechanisms.
I know you learned about bitcoin because you felt left out in 2017 and bought cardano and now that you really understand the tech and the economics you run a bitcoin node, but consider for a second that you are remarkably abnormal (it's ok)
We succeed when all of this is invisible to the average user. The app that achieves MOE:
- Looks like any money app
- Allows choice of unit account (the true hurdle for bitcoin) by integrating seamlessly with existing rails
- Offers lower fees, global reach by nature of using bitcoin
Stablecoins are fragile. There is nothing stable about having your balance pulled over night because your issuer:
1. Used the wrong bank / bought the wrong assets with the treasury
2. Received a government request to delete your grocery budget.
