Yitong on Farcaster

Yitong pfp

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

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Dan Romero pfp

I don't think stables are about reducing FX. It's about making moving *US dollars* instant and programmable.

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matthewb pfp

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

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Jonny Mack pfp

i think routing around the correspondent banking networks is significantly cheaper and has much faster settlement times also onchain fx is true 24/7 (unlike offchain)

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jesse.base.eth 🔵 pfp

jesse.base.eth 🔵

anyone serious today can get 10x cheaper FX on @base using free EURC and USDC on/offramps and aerodrome for fx

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Brian Flynn pfp

programmability of tokens (including stablecoins) is still underrated because we haven't found the killer use cases

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Stepan pfp

FX fees = (1) spread from liquidity/volatility, (2) broker fees, (3) rollover fees. Stables eliminate 2 & 3, and reduce 1 over time by boosting global liquidity + speed. If you’re a global biz transacting in EUR & USD, cutting 1% in fees w/ stables is a no-brainer.

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Fran pfp

Very briefly. Hes stuck in % land of the traditional finance. His argument is you cant beat the 0.01% fee of the current system. But crypto does beat it. Crypto rails dont charge a percent. They charge be a flat fee regardless of size. And that fee is approaching fractions of a cent. 0.01% of 10,000 is still $1. 10-100x more expensive than moving the same amount on crypto rails. That percentage vs flat fee difference adds up and becomes ridiculous savings the more capital runs on crypto rails.

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Geo Ppls pfp

You want to transfer $1000 to someone in the Philippines. You and the other Party both have stable coin wallets. You send your 1000 to the US crypto Bank. The crypto bank holds millions in this stable coin. The US crypto bank sends $1000 and stable coins to that person’s wallet in the Philippines.

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