I’ve been thinking about how stablecoins like USDT and USDC, are everywhere in crypto. They're basically fiat, mostly the dollar, inside a system that’s supposed to be decentralized and free from government control.
To me, that kind of holds Bitcoin back from becoming an alternative to fiat. What do you guys think? Does the dollar’s presence in crypto hurt more than help? I feel like it should be the opposite, Bitcoin taking over in a fiat-dominated world.
Don't let us get the whole thing wrongly, stablecoins are cryptocurrencies, pegged down with the dollar value, they are stable and not volatile as bitcoin or any other coin, but they are still cryptocurrency and not fiat, but why some see them as part of fiat is because of how they are pegged to USD rate and not being volatile, but that does not means this is really what people want, instead they also serve their own purpose and never have anything to do with competing with bitcoin dominance or so, they both exist to remain and coins are hold on stable coins when seen to be going through a downtrend and then later exchanged.