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re: Why bitcoin is worse than a Madoff-style Ponzi scheme
Posted on 12/26/21 at 6:27 pm to Big_Sur
Posted on 12/26/21 at 6:27 pm to Big_Sur
quote:
It's the opposite? Cryptocurrency is to strengthen the USD?
stablecoins are backed by dollars (generally speaking..)
so if cyrpto becomes the dominant medium of exchange globally, that means dollars become more prominent
for example: someone in turkey would rather hold a USDC stable coin over the turkish lira, if given the option between the two. everyone wants dollars.
so giving access to dollars on stablecoin rails is a huge deal for those in countries with weaker currencies.
this is why the US is focusing so strongly on regulation of stablecoins.
Posted on 12/26/21 at 6:55 pm to rocket31
Stablecoins meaning btc, eth etc?
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