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https://warpcast.com/~/channel/law-policy
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matthewb
@matthewb
from paul krugman's substack: "...stablecoins don’t serve any clearly useful function. They can’t be used to make ordinary purchases, and there’s nothing you can do with them that can’t be done more cheaply and more easily with debit cards, Venmo, Zelle, wire transfers etc. That is, why not just use dollars instead of tokens that are supposedly backed by dollars?" honestly shameful behaviour, lying to your gullible shitlib audience that doesn't know any better. not even worth the time to write a rebuttal but: 1) stablecoin remittances are between 100-1000x cheaper (and faster) than wire transfers, this is a very stupid talking point 2) USDC is backed 1:1 and publishes monthly independent transparency reports, why pretend otherwise? fractional reserve banking is held to a far lower standard and I'd expect an "economist" to know better. https://paulkrugman.substack.com/p/digital-corruption-takes-over-dc
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ʞɔɐſ
@farcasterjack.eth
This is the dumbest statement I’ve seen, he must know he’s lying and he’s just spewing propaganda/disinfo to appease the liberals who hate crypto. The US dollar is backed by nothing. Stable coins are just as real as USD and I can easily convert USDC or even USDT to dollars and fund my crypto debit card in a matter of seconds. Fuck this guy and his whole audience of ignorant liberals. The left (people like myself) need to embrace crypto and utilize it in a manner that is beneficial to their goals. The right just uses it to profiteer and essentially does pump and dumps. Rn crypto policy and political discourse is so cooked that it’s starting to burn lmao. Fucking frustrating as hell.
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