Nick Tomaino🎩 pfp
Nick Tomaino🎩
@nick
Why hasn’t stablecoin usage taken off yet? https://i.imgur.com/WJ7B1hY.jpg
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Corbin Page pfp
Corbin Page
@corbin.eth
Time. Just takes time for these things to spread. We're past the tipping point given remittance, instant settlement, and "non-bank hours" txs are 10x better than legacy. Crypto payments is the new "institutions are coming". Timing the market is tricky but will be massive.
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jesse.base.eth 🔵 pfp
jesse.base.eth 🔵
@jessepollak
IMO the obvious answer is the correct one: it's still too expensive availability of L2s with sufficiently low fees to support consistent, low cost stablecoin payments will be the catalyst (likely enabled by EIP-4844). that unlocks wallet UX and PoS support. off to the races.
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Karthik Senthil pfp
Karthik Senthil
@karthiksenthil
Interesting, id have thought the opposite & am surprised stablecoins have made so much progress. Stablecoins hit mainstream when ppl dont know they are using them under the hood for in-app payments/transfers. IMO, the first 10X better experience will be in SMB merchant payments
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Madhur Shrimal pfp
Madhur Shrimal
@madhurshrimal.eth
@perl
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Giuliano Giacaglia 🌲 pfp
Giuliano Giacaglia 🌲
@giu
That’s a great question that didn’t pop up in my head before. My guess is that crypto exchanges are just starting in developing nations where the need for stablecoins is high. For example, in Brazil I think last year only 3M people had bought crypto - 1.5% of the population
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jcdenton.vibe pfp
jcdenton.vibe
@jc
relevant https://i.imgur.com/ltRM3Mu.png
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Alok Vasudev pfp
Alok Vasudev
@alok
What would you like to do with a stablecoin that you can’t right now?
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Cassie Heart pfp
Cassie Heart
@cassie
The raw use case already has been invaluable for me. Anyone who’s ever been burned by PayPal knows the risk of trusting them at critical moments. I send family USDC instead. Way faster and safer.
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Thomas Mattimore pfp
Thomas Mattimore
@mattimost.eth
People also discount the huge adoption of usdt on tron in other countries. It’s fairly standard in latam randomly https://i.imgur.com/LEzoYCs.jpg
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Thomas Mattimore pfp
Thomas Mattimore
@mattimost.eth
We have >25k merchants and 600k users that use our RPay app to transact in stablecoins in latam. Payroll, point of sale, p2p, etc
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dimalaba.eth pfp
dimalaba.eth
@dimalaba.eth
For 99% credit cards + banks work good enough? USDC + Coinbase card should be 10x better for international transfers Some countries have limit on how much USD you can purchase or transfer - stablecoins should fit well for this
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Jasper pfp
Jasper
@jch
The largest by market cap all suffer from their own problems (transparency, centralization, inefficiency). Tooling (at least in the US) is much worse than vanilla USD (needs normal banking features like scheduled remittances).
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ST pfp
ST
@vercelabloh
imho the most important use for stablecoins is converting developing world currencies to dollars at scale.
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Joyce pfp
Joyce
@0xjoyce
For the institutions, there is lack of regulatory clarity. In US treasury has said they won’t move until they get support from other branches of the government. From user perspective, it is not efficient to sell crypto for stables. There is a tax consequence of that sale.
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Jason pfp
Jason
@jason
Consumer adoption of DAOs (oxymoron?) would do a lot for stables. When you’re paying people out of treasury and managing a P&L it needs to be done with a stable. People getting paid as “knowledge gig workers” can leave their earnings in wallet like a savings account.
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Payom Dousti pfp
Payom Dousti
@payomdousti
can't settle credit card debt in usdc yet
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Agost Biro pfp
Agost Biro
@agostbiro
Crypto works well as payments in value chains that are entirely novel, bc established val chains have good enough entrenched solutions in most places and the uncertainty around crypto is too large to displace them. This is why NFTs took of and online payments failed. Web3 gaming⏭
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TKMatima pfp
TKMatima
@tkmatima
1 reason - regulatory clarity. Once we get that, one App like WhatsApp integrating USDC will make stables take off like a rocket! One major reason i was excited about Libra/Calibra ……but regulators fucked that one up
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