Thanks Tankred and happy to connect anytime to go deeper. I agree that stable coins will be preferred (because most people don’t understand the game and will sacrifice short term for long term and the big money is in that game - so the incentives are too). That in itself - a stable coin is guaranteed to lose value to bitcoin at the same rate as currencies - will consolidate L2 and then provide an attack vector through a highly centralizing force with AI to essentially play the same game as humans have played throughout time. Prisoners dilemma through extraction and control. Could see the attack coming from a mile away because it was necessary to maintain the control structure. As store of value, Bitcoin would look like gold today, and then be suppressed through layer 2. In other words, for bitcoin to bring truth, hope and abundance to our world, it MUST also be used as a medium of exchange. That’s the game I’m playing and the stakes are very high!!

I would like to better understand this. I've heard a number of people say stablecoins can help prop up the dollar during the transition by continuing to purchase treasuries, but I am having a really hard time gaming that out mentally or what you wrote above for that matter. As with most things in bitcoin I find that I can't grasp the initial explanation fully, but as it seeps into the scene and I hear it explained several different ways it'll click.

Privileged take. People need stability, literally the core function of sound money. Most people just can't afford wild price swings, that's it, nothing to do with a lack of understanding game theory. Good MoE is stable, bitcoin is not stable. Build stablecoins on bitcoin that can easily be swapped in/out, and hope one day enough liquidity and commodity use cases exist that bitcoin becomes stable and can be used raw as MoE.