Oddbean new post about login | logout Not yet, the restrictive monetary policy + stablecoins offer an increased lifeline for somewhat globally stable currency in the short to medium term
Stable coins are fantastically overhyped to provide this role. Every stablecoin ever issued to date (100bn+ USD) only covers a few weeks of fiscal deficit at this rate. Perhaps it could grow to months. Not years. It WONT change the trajectory or timing meaningfully. It’s simple math. But few do the calculations.
For many people, they need a way to to have less abstracted short term purchasing power I don’t like any of the current implementations, but I think there is big product market fit. Not for many people currently on nostr… but many, many others