Wow, two of my allies just turned on me—one named Francis and the other Boltz. What a bunch of traitors.
nostr:npub1lxktpvp5cnq3wl5ctu2x88e30mc0ahh8v47qvzc5dmneqqjrzlkqpm5xlc
https://blossom.pri...
Do you ever wonder why people use stablecoins?
Should people use Bitcoin because they're forced to or because they want to?
A few "legit" use cases of USDT come to mind:
1. Some people can simply not handle any volatility. Not because they're "weak" or "dumb", just because they are poor. They have bills to pay and no margin. Those bills might not even be denominated in USD. But any currency has lower volatility against USD than against Bitcoin.
2. Electricity is denominated (or highly tight to) USD. I have some hosted Bitcoin miner in UAE. No hosting accepts Bitcoin. They have tight margins, and Bitcoin volatility can often beat their margins. So now I have to resort to remote custodial exchanges (at least without KYC) to swap Bitcoin through LN and send the hosting USDTs.
I don't want USDT. I don't want to hold them or touch them in anyway. But I clearly see why other people would, and I'm happy that there's now a more sovereign way for me to give USDT to whoever wants them, without KYC or cudtody risk.
And it goes both ways! It's now easier to swap USDT for Bitcoin. What's next is to keep improving and building the Bitcoin ecosystem, so that people choose to swap in that direction more often than the other. If this is not the case, the problem is not the bridge.
Should people use Bitcoin because they're forced to or because they want to?
A few "legit" use cases of USDT come to mind:
1. Some people can simply not handle any volatility. Not because they're "weak" or "dumb", just because they are poor. They have bills to pay and no margin. Those bills might not even be denominated in USD. But any currency has lower volatility against USD than against Bitcoin.
2. Electricity is denominated (or highly tight to) USD. I have some hosted Bitcoin miner in UAE. No hosting accepts Bitcoin. They have tight margins, and Bitcoin volatility can often beat their margins. So now I have to resort to remote custodial exchanges (at least without KYC) to swap Bitcoin through LN and send the hosting USDTs.
I don't want USDT. I don't want to hold them or touch them in anyway. But I clearly see why other people would, and I'm happy that there's now a more sovereign way for me to give USDT to whoever wants them, without KYC or cudtody risk.
And it goes both ways! It's now easier to swap USDT for Bitcoin. What's next is to keep improving and building the Bitcoin ecosystem, so that people choose to swap in that direction more often than the other. If this is not the case, the problem is not the bridge.
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