Quote:
Originally Posted by ElDiabloJoe
Maybe I'm old-school, maybe I'm unsophisticated, maybe I'm maladaptive, maybe I'm a luddite, but I agree with this 100%.
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Quote:
Originally Posted by tophcfa
You’re not alone!
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FWIW (not much), in my mind I see it this way:
Owning Bitcoin is a bit like owning a stock. While you own a number of shares, the value goes up and down due to market influences. There are a few legitimate transactions you can make with Bitcoin but for the most part you hope to buy low and sell high.
Owning Stablecoin (there are several) is a bit like owning poker chips. In an environment that accepts them (growing?) you can use Stablecoin like money just as you can use poker chips as money within a casino. Unlike Bitcoin, the value of the Stablecoin is controlled to be be stable. When you are ready to cash out, whether chips or Stablecoin, you know that each chip/coin you own is worth the same as it did when you bought in.
Owning Memecoin is similar to owning Beanie Babies. When demand is high you can sell what you have and make money. When there is an owner-only convention you can buy your way in. You can hold them as long as you want but when the novelty wears off you have a curiosity piece. On the other hand, if you are part of the production or sales chain you make money regardless of the value.
As a consumer, I don't see much difference between Stablecoin and a Debit Card. Both tie back to a number representing my wealth in US dollars and both allow me to make transactions without carrying cash. I'm sure there are long articles or even books on why I should trust a USD-backed Stablecoin over a USD-funded bank account but I haven't taken the time to be persuaded.