I have not understood the purpoted purpose of the so-called stablecoins. I thought the whole point was to have an ostensible foundation of value separate from state power and central banks.
Check out the fiatcucks using a currency subject to the tyranny of the European Central Bank. Well not me, I use this shitcoin that's pegged 1:1 with the same currency they're using except hardly anyone accepts it and when they do I pay exorbitant transaction fees. Freedom, baby!
Some claim that stablecoins are intended to pull people into the cryptocoin ecosystem or facilitate transactions between real money and buttcoins but I don't get that one either. Why would I rather buy 100 stablebutts for 100 dollars and the trade that for so-and-so many speculasses than just trade the speculasses for dollars from the get-go?
Most people fucking around with buttcoins are just wishing for another surge of hyperdeflation like the Bitcoin bubbles in 2012 and 2017. What's the appeal of a shitcoin that definitionally can't do that, at least relative to its backing currency?