The speaker does not want stable coins because they believe stable coins should be pegged to Ethereum and Bitcoin, not the other way around. The process of inventing stable coins is difficult and time-consuming, and the speaker suggests trading everything in Ethereum or Bitcoin instead. They also argue that money should be neutral like air or water, and Bitcoin is the best form of money. Despite sounding like a lunatic, the speaker’s conviction in cryptocurrency has increased 10 to 100 times.
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Why Bitcoin is the Best Money Option
Introduction
In recent times, stable coins have become quite popular in the world of cryptocurrency. However, according to one prominent figure, believing in stable coins is a mistake.
The Problem with Stable Coins
The issue, according to this figure, is that stable coins are difficult to create. They require a lot of time and resources to accurately mimic the dollar. Additionally, stable coins pegged to traditional currency creates a system where we, as users, must adapt to the fiat currency model. The suggestion is that it should be the other way around – traditional currencies should be pegging to Bitcoin.
Better Option: Bitcoin and Ethereum
Rather than relying on stable coins, the solution then is to trade in Ethereum and Bitcoin. The idea is to go back to a time when everything was traded in Ethan BTC. This way, money becomes more neutral and people can trade in the currency of their choice.
The Benefits of Bitcoin
What makes Bitcoin particularly appealing is that it is unbiased. It is not bound by any national or geopolitical boundaries. It can be used by anyone, anywhere, and for any reason. Bitcoin is decentralized, meaning that it is not subject to the whims of governments and central banks.
Final Thoughts
Despite some people viewing this figure as crazy, his conviction in his view on cryptocurrency has never wavered. It is clear to him that every day, Bitcoin is becoming a more and more viable option. In the end, it only makes sense to want the best money possible, and for this reason, Bitcoin is the best choice.
