flâneur

Jake Stolarski

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on the atlas — 2

highlights — 5

  • The main difference between Bitcoin and stablecoins is that Bitcoin is optimized for decentralization and hardness but is currently volatile due to being a novel unit of account, whereas stablecoins are less-volatile because they piggy-back on existing monetary network effects, but are centralized and inflationary
    November 2023 Newsletter: The Monetary Gates Are Open - Lyn Alden
  • They also allow for micropayments, including international micropayments. Up until fairly recently, it has not generally been possible to send someone the equivalent of ten cents internationally.
    November 2023 Newsletter: The Monetary Gates Are Open - Lyn Alden
  • On the Chainalysis crypto adoption index, 16 of the top 20 countries ranked by crypto adoption are classified as developing countries.
    November 2023 Newsletter: The Monetary Gates Are Open - Lyn Alden
  • When most people, including traditional finance professionals, think of “crypto”, they lump everything together in their head. Bitcoin, stablecoins, monkey jpegs, VC-funded token pump-and-dumps, and scammy yield-farming Ponzis are all categorized similarly. But what I would argue, and have argued for years now, is that the killer app for this technology is money: savings and payments. Bitcoin is a powerful innovation with long-term potential. Stablecoins have been a powerful bridging tool as well.
    November 2023 Newsletter: The Monetary Gates Are Open - Lyn Alden
  • The biggest stablecoin issuer holds more U.S. T-bills as collateral than most countries have in their foreign exchange reserves. They serve as an offshore bank account for the middle class of many countries.
    November 2023 Newsletter: The Monetary Gates Are Open - Lyn Alden