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@bjjxyz @AnthonyLeeZhang regulatory arbitrage isn't a usecase, it's a lifeboat. i think the "utility" discourse is naïve and marketing-driven: while it's intuitively and colloquially true that stablecoins are "useful" in an [argentine] pinch, that's not the same as a net gain for humanity, a higher bar.On twitter.com
Mood +4 🙂
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@bjjxyz @AnthonyLeeZhang and, to be clear, much of the utility i see in stables is actually somewhat parasitic: it's a free, USD-denominated payment rail *subsidizied* because someone else is paying the gas and minting/reserve infra; the rest of crypto underwrites its utility even for argentines.Permalink On twitter.com
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@bjjxyz @AnthonyLeeZhang i'm in the same camp as OP-- I think crypto might end up being very net-useful, but I don't think it's cleared that hurdle yet, thinking rigorously and with a sufficient consideration of international externalities and long-tail effects and systemic risks. i hope it does!Permalink On twitter.com
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@bjjxyz @AnthonyLeeZhang (and i'll be at EthCC Tuesday, btw, if you'd rather debate this like a civilized European, over an espresso at a corner café!)Permalink On twitter.com