sms on Nostr: The U.S. dollar’s purchasing power has declined significantly since 1913, but it ...
The U.S. dollar’s purchasing power has declined significantly since 1913, but it remains one of the strongest and most widely used currencies in the world.
This isn’t a coincidence; it’s a testament to the dollar’s entrenched global dominance, even as its flaws become more evident.
Suffering economies often turn to dollars over #Bitcoin or gold.
Why?
Because it’s the cleanest shirt in the dirty fiat basket, or perhaps the most widely used shirt.
Its practicality, global infrastructure, and familiarity make it the go to option for those seeking stability amid chaos.
For many, the choice between a volatile ride up (#Bitcoin) and a slow, predictable decline (the dollar) isn’t obvious.
Stablecoins only amplify this dynamic by making dollars more accessible and efficient.
However, I believe the advantages stablecoins currently hold over #Bitcoin are more about the dollar’s head start: centuries of infrastructure and global familiarity.
#Bitcoin is catching up at an incredible pace.
Once people have the same level of familiarity and usability with #BTC as they do with dollars, the incentive to choose dollars over Bitcoin disappears entirely.
Ironically, while stablecoins make the dollar stronger relative to other fiat currencies, they also accelerate the spread of destructive monetary policies.
In the short term, they provide convenience and temporary fixes.
In the long term, they exacerbate the dollar’s weaknesses and the broader issues within fiat systems.
The dollar is destined to weaken over time, but stablecoins could prolong its dominance while simultaneously exposing its flaws.
As stablecoins continue to shape international economic dynamics, I’m curious to see how their evolution influences the adoption of #Bitcoin in the coming years.
This isn’t a coincidence; it’s a testament to the dollar’s entrenched global dominance, even as its flaws become more evident.
Suffering economies often turn to dollars over #Bitcoin or gold.
Why?
Because it’s the cleanest shirt in the dirty fiat basket, or perhaps the most widely used shirt.
Its practicality, global infrastructure, and familiarity make it the go to option for those seeking stability amid chaos.
For many, the choice between a volatile ride up (#Bitcoin) and a slow, predictable decline (the dollar) isn’t obvious.
Stablecoins only amplify this dynamic by making dollars more accessible and efficient.
However, I believe the advantages stablecoins currently hold over #Bitcoin are more about the dollar’s head start: centuries of infrastructure and global familiarity.
#Bitcoin is catching up at an incredible pace.
Once people have the same level of familiarity and usability with #BTC as they do with dollars, the incentive to choose dollars over Bitcoin disappears entirely.
Ironically, while stablecoins make the dollar stronger relative to other fiat currencies, they also accelerate the spread of destructive monetary policies.
In the short term, they provide convenience and temporary fixes.
In the long term, they exacerbate the dollar’s weaknesses and the broader issues within fiat systems.
The dollar is destined to weaken over time, but stablecoins could prolong its dominance while simultaneously exposing its flaws.
As stablecoins continue to shape international economic dynamics, I’m curious to see how their evolution influences the adoption of #Bitcoin in the coming years.