A cryptocurrency enthusiast has suggested abandoning stablecoins and using Bitcoin and Ethereum as trading pairs instead. The enthusiast argued that stablecoins, which are intended to be pegged to the US dollar, are difficult to invent and create. Instead, they believe all trading pairs should be changed to ETH/BTC as it was in the past. The enthusiast also suggested that Bitcoin is the best money and that they have increased their conviction in cryptocurrency since the recent collapse.
Why Stable Coins Are Not Necessary
When it comes to cryptocurrencies, stable coins have become a popular option. These coins are designed to remain stable in value, often pegged to a specific asset like the US dollar. While this may seem like a good idea, it’s not necessarily the best option. In fact, according to one prominent voice in the crypto space, stable coins aren’t needed at all.
The Problem with Stable Coins
According to this voice, stable coins are problematic because they’re trying to mimic the value of other assets. Instead of allowing cryptocurrencies to stand on their own, stable coins place them in a secondary position. This means that cryptocurrencies are pegging to something else, rather than standing on their own.
The problem with this, according to the speaker, is that it’s difficult to create a stable coin that truly mimics the value of another asset. This requires a lot of time and effort, which could be better spent on developing improvements to cryptocurrency itself.
The Solution: Trade Everything in Ethereum and Bitcoin
Rather than depending on stable coins, the speaker believes that all trading pairs should be in Ethereum and Bitcoin. This would allow cryptocurrencies to stand on their own, without the need to mimic other assets.
The speaker even suggests changing all trading pairs to Ethereum and Bitcoin, like it used to be in the past. This would simplify the trading process and make it easier for people to understand and use cryptocurrencies.
The Benefits of Neutral Money
The speaker also believes that money should be neutral, like the air we breathe. In other words, money should not discriminate or punish people. Bitcoin is an example of neutral money because it can be used by anyone, regardless of their background or status.
The speaker’s conviction in cryptocurrencies has only grown over time, even in the face of market collapse. They assert that cryptocurrencies, particularly Bitcoin, are the best form of money available.
While this opinion may be controversial, it’s important to consider the potential benefits of abandoning stable coins and focusing solely on cryptocurrencies like Bitcoin and Ethereum. Only time will tell if this approach will become widely adopted.