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The Next Chapter for Stablecoins | Nic Carter
Aug 29, 2023
Crypto OG Nic Carter discusses the rise of stablecoins, misconceptions about Tether, US regulation, the impact of stablecoins on L1 tokens, the overemphasis on scarcity in crypto, and the most over/underrated sectors. Predictions include USD dominance, interest-bearing stablecoins, and BRICS coin.
01:07:08
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Quick takeaways
- Stablecoins have become dominant in the crypto market, providing stability and eliminating the need for constant conversion between cryptocurrencies and fiat currencies.
- The podcast explores various approaches to stablecoin issuance, including fully fiat-backed models, collateralizing with crypto assets, and decentralized algorithmic stablecoins.
Deep dives
The Rise of Stablecoins in Crypto
Stablecoins have become a dominant force in the crypto market, accounting for 75% of the dollar volume in crypto and 10% of its total market cap. This shift towards stablecoins has made crypto transactions more efficient and reliable, with stablecoins providing stability and eliminating the need for users to constantly convert between cryptocurrencies and fiat currencies. The rise of stablecoins has also highlighted the importance of maintaining a stable value in smart contracts and settling transactions, as well as the role of tax policies in maintaining the preeminence of sovereign currencies.
