I agree with Verda Ventures’ thesis in their latest newsletter:
"Non-dollar stablecoins do not need to displace the dollar. They need to solve a specific problem inside a specific market better than a dollar token can."
Most importantly, this idea applies not only to stables but also to #bitcoin.
Why? Because stables, while less volatile, inherit all the institutional problems and political attack points of fiat currencies.
Even today, #bitcoin has important capabilities which stablecoins don't:
- Bitcoin is nobody's liability, there is no issuer
- It has absolute finality where stables can be seized
- Jurisdictional neutrality in geopolitical uncertainty
And this is just today!
If and when Bitcredit Protocol starts taking root, it will naturally stabilise Bitcoin's purchasing power. Once stable, #Bitcoin will beat every stablecoin in the world, including the dollar. (NB: Unless the U.S. switches to a Bitcoin-redeemable dollar.)
The endgame will be one neutral asset and one censorship-resistant settlement network worldwide.
"Non-dollar stablecoins do not need to displace the dollar. They need to solve a specific problem inside a specific market better than a dollar token can."
Most importantly, this idea applies not only to stables but also to #bitcoin.
Why? Because stables, while less volatile, inherit all the institutional problems and political attack points of fiat currencies.
Even today, #bitcoin has important capabilities which stablecoins don't:
- Bitcoin is nobody's liability, there is no issuer
- It has absolute finality where stables can be seized
- Jurisdictional neutrality in geopolitical uncertainty
And this is just today!
If and when Bitcredit Protocol starts taking root, it will naturally stabilise Bitcoin's purchasing power. Once stable, #Bitcoin will beat every stablecoin in the world, including the dollar. (NB: Unless the U.S. switches to a Bitcoin-redeemable dollar.)
The endgame will be one neutral asset and one censorship-resistant settlement network worldwide.
3
