Can someone ELI5 why Jack is wrong? I love stablecoins, but am probably more aligned with Jack than its boosters right now. Feels like the excitement around stables today smells a lot like emperor has no clothes

Investors keep asking me about stablecoin, and how that can reduce FX fees; if you send money from USD to EUR, and the receiving end still requires to receive EUR in their bank, I can’t see any ways stablecoin can reduce fees - off ramping from stablecoin to recipient currency

Jack Zhang

Can someone ELI5 why Jack is wrong? I love stablecoins, but am probably more aligned with Jack than its boosters right now. Feels like the excitement around stables today smells a lot like emperor has no clothes

https://x.com/awxjack/status/1931239220204486879

stablecoins are a pretty obvious paradigm shift if you’ve ever sent a wire

less about fx fees, more about remittances and instant worldwide settlement with near-zero fees

Farcaster-native research: https://paragraph.xyz/@matthewb | prev. Juicebox, Nouns, RAW DAO | casting about coffee, hi-fi, and other rabbit holes

I have sent wires and they’re pretty good! Stables are better in some narrow cases, but I wouldn’t under estimate wires either