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91 sats \ 5 replies \ @tomlaies 23 Aug 2022 \ on: STABLECOIN LIE bitcoin
Agreed. There is no usecase for stablecoins since there is nothing in the world as stable as Bitcoin which is always 1 in 21 million.
I think atm it is just supply & demand. People are demanding for fiat o Lightning and the market provides fiat on Lightning. Sad but that's the current state of practice/theory. I assume it will change in the long term.
We could have a very different discussion in the advent or circumstance of a legitimate gold standard because 1 oz gold = 1 oz gold, regardless of the value of gold between any two people in a market.
I agree RE supply & demand, but I don't find those sufficient excuses. We have human trafficking in the world because of supply & demand as well. I hope that example suffices to show that economic analysis cannot imbue morals into behavior.
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1 oz gold = 1 oz gold
That's not true. 1oz today and 1 oz tomorrow are widely different things. Really shows that you haven't understood what this is about.
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1 oz of gold today and 1 oz of gold tomorrow are not very different things, especially if literally the same 1 oz of gold.
The VALUE of 1 oz of gold today and tomorrow could "be widely different things" but I don't mean that, however that would surely play into the decision-making of a person to borrow or lend any mass of gold for profit.
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You lack basic economic understanding and it shows
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How helpful.
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