pull down to refresh
0 sats \ 0 replies \ @l0k18 29 Jun 2023 \ on: Why, in your opinion, stablesats are not widely used? bitcoin
The whole business of stablecoins and eurodollars is a very deep rabbithole. Stablecoins are mostly backed by T bills, but also can be connected to banks with eurodollar access. Anything involving making new and unfamiliar business arrangements with banks is a really slow process. It is very difficult to get banking licenses if you also want to deal with any kind of "crypto" or bitcoin.
I am not a fan of stables. Putting fees into the Ethereum or Tron ecosystem (and the rest) is pretty vile business, but the fact is that some people have a lot more trouble and cost getting sats traded for their local currency.
My suggestion is those who are stick in the mud about this, engage them about what's stopping them from accepting non-fiats directly.