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.
In my opinion stable coins don't limit bitcoin in any way and the fact is bitcoin is widely used in P2P transactions as much as USDT, USDC and other stable coins out there. Throughout my range of payments I've made online I've literally seen no case where a payment portal accept stables and not bitcoin at all.
I believe the main goal of stables is actually to escape dynamic rates since there are cases where you can't afford fluctuations in price with respect to the dollar.