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Stablecoins have proved their use in this bank runnitter.it/juthica/status/1590144293410598913
66 sats \ 3 comments \ @cryptocoin 9 Nov 2022 bitcoin
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25 sats \ 1 reply \ @NorthKoreanHostage 9 Nov 2022
Stablecoins are all unworkable scams that rely on growth to avoid collapse.
Just buy Bitcoin.
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0 sats \ 0 replies \ @cryptocoin OP 9 Nov 2022
To move USD funds from one exchange to the next, (e.g,. while doing an arbitrage trade) I really don't care if it is long-term workable or not. I am comfortable using it for a brief period of time (measured in minutes) because it provides utility.
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0 sats \ 0 replies \ @cryptocoin OP 9 Nov 2022
The link for this post uses a read-only front-end for Twitter, which can be easier to read for viewing a full Twitter thread. The Tweet that kicked off the thread is:
stablecoins kind of proved their use in this bank run. even for those with access to USD. could be self-custodied at a moment's notice, transferred more quickly than USD and publicly audited when in transit, not subject to panic selling like other cryptos
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