Read_887 - A Half Baked Thesis on Stablecoins
Bitcoin Audible
Intro
This chapter explores the objections Bitcoin advocates have towards stablecoins, focusing on issues of dollar dominance and the relevance of blockchain technology. It highlights contrasting viewpoints and advancements in Bitcoin, setting the stage for a deeper look at stablecoins' role in the evolving financial landscape.
"As will become clear as the argument progresses, I actually think the outcome to which I am building up is where things have to go. I think the technical and economic incentives at play make this an inevitability rather than a “choice”"
~ Allen Farrington
What if the stablecoin boom isn't a threat to Bitcoin, but a stepping stone? In this episode, I dive into Allen Farrington’s "A Half Baked Thesis on Stablecoins" and follow it with a massive guy's take unpacking the implications. Are stablecoins a betrayal of Bitcoin principles, or are they the Trojan horse for Bitcoin-native infrastructure? What happens when fiat settles over Lightning? And how could ecash and Taproot Assets reshape everything we thought we knew about digital money? There's a quiet revolution happening at the payments layer—and the stablecoin debate might just be the signal buried in the noise.
Check out the original article: A Half-Baked Thesis on Stablecoins (Link: https://tinyurl.com/y442kkkc)
References from the episode:
- Layered Money by Nik Bhatia (Link: https://tinyurl.com/yndssenp)
- Check Your Financial Privilege by Alex Gladstein (Link: https://tinyurl.com/4s3n595a)
- Only the Strong Survive by Allen Farrington (Link: https://tinyurl.com/3au8zmtr)
- One from Many: VISA and the Rise of Chaordic Organization by Dee Hock (Link: https://tinyurl.com/348ykwh9)
- Electronic Value Exchange: Origins of the VISA Electronic Payment System (History of Computing) by David Stearns (Link: https://tinyurl.com/2e69874x)
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