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0 sats \ 0 replies \ @rebel_nomad 2h \ parent \ on: Tether is back on Bitcoin - Lightning Dominance Is Just Starting bitcoin
The purpose of a thing is what it does. What Tether does, is maintain buy pressure for US treasuries while dollarizing the rest of the world... a necessary step in destroying all other fiats as hyperbitcoinization can only occur after hyperdollarization consolidates all fiat before the last slurp.
Totally concur on this! This is how things will play out, and personally I am very happy to spend some stablecoins these days using Travala, if I was 100% in Bitcoin instead of ~90% I simply would not even have gotten started with anything new since all my attention would have to be on how Bitcoin behaves...
Will Bitcoin win this battle as well, a few years down the line? Maybe!
In the meantime I will have to be practical about things, especially so that I never end in the big trap of having to sell it all in a deep bear market...
The practicality in all of this for me is that stablecoins have protected my main Bitcoin holdings, from late 2020 until now!
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