Not really. The price wasn’t quoted in “bitcoin”, it was quoted in US dollars, or in Euros, or in Yen, or in Yuan, etc. Show me some prices of stuff quoted in bitcoin, and then maybe it’ll start becoming a “currency” of sorts.
The euro is an interesting case study. I used to travel to Europe very often in the late 1990s through the 2010s, and in the beginning, the euro wasn’t really a currency, it was mainly used for accounting purposes, and for keeping track of national wealth, etc. Only later, a few years later, maybe 2001 or 2002, did it officially become a currency and we had to switch our Marks, Francs, and Lira (the main European countries I frequented were Germany, France, Italy, and Switzerland) into Euro.
When you are in a foreign country everything is priced in their denomination. You charge it to your credit card and it takes it out of your bitcoin. I don’t see the difference between that and them taking it out of your bank USD.
Exactly, but it seems people are doing it. Now, why would you invest your money for a zero return? Is it that some people do not understand what stable is? As far as investment, I think you would have to go with Bitcoin, Ethereum, Coin, Hood, Crcl, or some such investment.
Which thing brings up the next question: why would a surge in stable coins have any positive impact on unrelated coins that are not stable, like Bitcoin?
Good question, so maybe not Bitcoin, but if they use the Ethereum network to pass the coins for payment it would make Ethereum increase. There are other networks out there also like the lightning network but I haven’t dug into them to deep and keep my investment (Gamble for others) only in Bitcoin. Although Ethereum would be a close second choice
Why do you think I am going to invest in stable coins? Stablecoins may not be investable assets themselves, but their usage generates real economic value for the networks they run on especially Ethereum. Stablecoins like USDC and USDT ( have $300 B+ in assets) are primarily issued and transacted on Ethereum (though they also operate on other chains like Solana, Tron, and BSC).
ETH earns, collects fees on the network usage. I own $ETH, and recently did some call spreads, wish I owned the calls straight.
I don’t know about "positive’ impacts necessarily, but a primary use is case is that stable coins facilitate exploiting arbitrage opportunities between trading pairs of crypto coins.
I know I don’t know much and I probably don’t know as much as I think I know. That being said, I started with international ETFs. I picked Vsgx over vxus but only for sustainability reasons, not profit. I am leaning toward adding a European weighting, I.e. iev, and maybe toward Switzerland -maybe zurvy and scmwy. But my first sentence is the most honest sentence in this post.
