"People will be able to use other assets on Bitcoin...specifically stablecoins" How does Bitcoin benefit from having stablecoins running on it when the dollar is the biggest cancer affecting humanity? It's as if they are oblivious to why Bitcoin exists

Replies (9)

I honestly don't understand it either. As far as I understood, it should be something like creating more economic activity on the different layers of Bitcoin, which should lead to better infrastructure, more usage, and so on. Not really sold, though.
It's like saying we need to put an engine on a horse drawn carriage without getting rid of the horse, not the best example but it highlights how backwards all this is and how much a lot of "bitcoiners" are driven by fiat incentives
By onboarding to doubly unbacked USD IOUs that can be rugged at any time, frozen at will and are a fungibility nightmare. Lol.
How do stablecoins make it easier? Who has ever, after using stables for years, suddenly realized that they need BTC? If there are folks like that please show me
Hell, I used Tether once, but then it did not work because you need to have Tron on another chain to even make them move. Absolute privacy nightmare. Worst UX. People gave up on promoting Bitcoin a money. So people end up with an inferior experience that they are willing to accept as normal since Bitcoin is not money, but fiat NGU tech that your are not supposed to use. You can hate on bcash all you want, but we lost global adoption exactly there. If bcash would have succeeded as dominant chain we likely would have 20 MB blocks now, LN and side chains with good privacy all at a market valuation of $300,000 per coin instead of bullshit ETFs. Now the question is if 20 MB blocks would have brought more centralisation or less centralisation of nodes. I doubt we would see vastly different numbers. So say fuck you to your past self that fucked this revolution up in such epic proportions that for many of us Bitcoin OGs only Monero seems as a viable option to get to another domino effect of actual peer to peer electronic cash.
Stablecoins on Bitcoin are just going to perpetuate the state controlled economic cycles as described by Rothbard
Nedrek's avatar
Nedrek 3 days ago
Just change coins. Leave the fight for true (bitcoin). | XBT
It's seems also like a gateway, though. Some people are already using stablecoins, then using stablecoins on Bitcoin it's just a small change for them. From there, the next step would be "You are already using Bitcoin without knowing it, just use Bitcoin." What do you think?
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