I don't disagree but it's a bad take. For most folks who are American, they've never had monetary choice of any kind. That's why most Americans still even don't understand competing currency, while the rest of the world does. It's a serious IQ handicap for USA. Stablecoins will, at very least, introduce the concept in such a way that doesn't threaten our delicate minds. Also, as proposed, licensed Stablecoins will be under the US Treasury, representing movement away from the Fed.
Stablecoins do provide some choice regarding which (or, who's) money you want to use. The accounting is better. It's a new financial system. Stablecoin performance makes payment networks we are using today look stupid. Consider that you can open for business today. Wifi is all you need. No proprietary equipment or special approval. Don't have to talk to anybody at any bank. And you can be receiving payments.
Obviously there are efforts to mitigate Stablecoin performance, and not just network performance, but all the way around. For example nearly all the (apparently) most popular phone "wallets" are slow as fuck now. They must be purposely bad. It's difficult to mess up crypto unless you're trying. They have been able to mess up BTC, but there are still good projects out there which haven't been compromised. (Laser eyes and insults and dumbness culture are not really part of BTC, those are its capturers.)
The real problem with stablecoins is the enforcement regime that will be constructed to bully the users of it. We can rest assured that under Democrats the enforcement regime will quickly turn into Stasi all over again, just like it did under Operation Chokepoint 2.0, with Obama/Biden and their FBI JTTF and international criminals committing most of the crime in crypto, and persecuting you for it. It will be VERY easy to frame people for somethign like money laundering, whichis of course the crime of not telling Bank of America how you did that.
Stablecoins do provide some choice regarding which (or, who's) money you want to use. The accounting is better. It's a new financial system. Stablecoin performance makes payment networks we are using today look stupid. Consider that you can open for business today. Wifi is all you need. No proprietary equipment or special approval. Don't have to talk to anybody at any bank. And you can be receiving payments.
Obviously there are efforts to mitigate Stablecoin performance, and not just network performance, but all the way around. For example nearly all the (apparently) most popular phone "wallets" are slow as fuck now. They must be purposely bad. It's difficult to mess up crypto unless you're trying. They have been able to mess up BTC, but there are still good projects out there which haven't been compromised. (Laser eyes and insults and dumbness culture are not really part of BTC, those are its capturers.)
The real problem with stablecoins is the enforcement regime that will be constructed to bully the users of it. We can rest assured that under Democrats the enforcement regime will quickly turn into Stasi all over again, just like it did under Operation Chokepoint 2.0, with Obama/Biden and their FBI JTTF and international criminals committing most of the crime in crypto, and persecuting you for it. It will be VERY easy to frame people for somethign like money laundering, whichis of course the crime of not telling Bank of America how you did that.