mulecolt on Nostr: I struggle to see a future where a bitcoin that is as volatile as it is today is used ...

I struggle to see a future where a bitcoin that is as volatile as it is today is used for payments. I just can’t imagine anyone is okay with potentially losing 10-20% of their purchasing power in a week and, at times, 60-70% of their purchasing power in a few months. Any rational human wants a way to secure the purchasing power they need for the near future in a stable, relative to the things they need to buy, system. If you give anyone a wallet with a stable coin and bitcoin they will naturally use the stable coin to transact and use bitcoin for long term savings. That is to say they’ll see bitcoin as an investment given its volatility.

If this is a bitcoin wallet where the stable coin uses the bitcoin network that’s a great bridge to the future, IMO, as bitcoin’s P2P payments could continue to mature as volatility decreases until a point where the fiat-linked stables would become less popular and eventually useless. If people can put enough money in the wallet to buy groceries for a month and that number doesn’t change much if it’s bitcoin or a stable coin then they won’t care. At that point there’s no reason bitcoin isn’t the backbone of the global financial system.

All of that to say I don’t think it has to be one or the other. But the roadmap has to consider real world incentives and meet people where they are.