Stable Coins Are the New Fed

Remember the good old pro crypto arguments? In that narrative, that were rampant between libertarians and anarchocapitalists, the evil FED was printing new money causing inflation and thus taking the economy to the shit. The rich got richer most people where fucked. Printing money out of thin air was a problem...

And the solution was Bitcoin and cryptocurrencies with capped issuance. Nobody can print more. There always going to be X amount of coins. The narrative shifted from the economics of magical printing to the economics of hoarding. Both are ofcourse ridiculous and both lead to plutocracies. But, this is the world we are leaving. There is no way around it.

Crypto has been lately showered with stable coins. Starting with USDT that literally pumped Bitcoin from 3k to 20k others are following suit hoping they can do the same. TUSD, DAI and recently the USDC from Circle. Every crypto universe seems to have Stockholm syndrome with the FIAT they rebelled against. Literally printing money out of thin air that nobody can prove if they exist or not. Unless ofcource people start cashing out and the last to the musical chairs are left standing. We used to have a beautiful thing called Bitcoin but its evolution over the past couple of years make its future grim.

Magical money can now be printed by anyone in the crypto space - all by the blessings of ait bloated BTC. Exchanges become the FED and life goes on. What crypto revolution? The revolution is about how whales and sharks can maintain the same status by offering false promises to the ignorant masses. The game never changes. Only the players. Throughout human history, the same dynamics take place in economic endeavors. The same pyramid schemes, the same musical chairs. It seems that we cannot escape from the economic perils of our nature.

The only revolution that can happen to the individual is how to adopt. How to stop believing all these false narratives and just roll with the situation in order to survive. The real challenge comes to the ones defending these bullshit arguments against the "FIAT oppression" who must, with the a straight face convince the sheep that this time is different. Sure it will pump mate but it won't be the fireworks of the new world you envisioned. The best you can hope is that you perhaps, can emerge as an overlord as well having the next generation cursing at you (much like you did for the previous one).