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Amazing article on "cryptocurrencies" (plural) without any mention of Bitcoin, but talks a lot about stablecoins which are not "crypto" in any sense because the

Amazing article on "cryptocurrencies" (plural) without any mention of Bitcoin, but talks a lot about stablecoins which are not "crypto" in any sense because they are centrally issued securities that don't even have censorship protections, but instead have explicit blacklists built-in. There are no cryptocurrencies. There is Bitcoin and there is noise.

liuliu 5y ago
Stablecoins are the main pricing mechanism in the cryptocurrency world. Tell me more about Bitcoin when Tesla prices their Model 3 at 1 BTC regardless the market fluctuations (AFAICT, it is currently priced in USD and you can pay with BTC with a floating exchange rate). To decouple from USD (or USDT / USDC), you need to price things (commodities and life-essentials) with "true" cryptocurrencies, no matter it is PoS, PoW or autonomous stablecoins (as oppose to USDT / USDC, which are centrally-controlled).