The_Apex_Asset on Nostr: Many people think if #btc #dominance goes down it means bad for #bitcoin, but ...
Many people think if #btc #dominance goes down it means bad for #bitcoin, but dominance includes stable coins. And if stable assets are issued on the #lightningnetwork bc of #taro/#taproot which will improve scalability/txn costs/security for stables, then stable coin adoption will explode because it’s in high demand in developing nations. Thus bitcoin growth could in itself self inflict reduction in dominance. I should also clarify time preference. Stables will grow until global adoption of bitcoin and the flattening of its volatility. Once there’s hyperbitcoinization there will obviously be no need for stables but that’s far off for now
Published at
2023-05-26 17:15:09Event JSON
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"content": "Many people think if #btc #dominance goes down it means bad for #bitcoin, but dominance includes stable coins. And if stable assets are issued on the #lightningnetwork bc of #taro/#taproot which will improve scalability/txn costs/security for stables, then stable coin adoption will explode because it’s in high demand in developing nations. Thus bitcoin growth could in itself self inflict reduction in dominance. I should also clarify time preference. Stables will grow until global adoption of bitcoin and the flattening of its volatility. Once there’s hyperbitcoinization there will obviously be no need for stables but that’s far off for now",
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