At ~$800, the value of centralized stablecoins on eth would be larger than its mcap Tweet added by 0xdef1 @0xdef1

0xdef1

@0xdef1

2 years

At ~$800, the value of centralized stablecoins on eth would be larger than its mcap

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GrossBit, the Golden Blob

@gross_bit

2 years

@0xdef1 and there's nothing wrong with that

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0xdef1

@0xdef1

2 years

@gross_bit Not a security issue at all It has been interesting seeing the evenly divided bearish/bullish reactions to this tweet

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NIKITA ZHABURKIN

@zhaburkin

2 years

@0xdef1 @Cryptopathic Mcap? I’m sorry, I don’t know what it is. What is it?

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0xdef1

@0xdef1

2 years

@zhaburkin @Cryptopathic market capitalization. total value of all the eth in the world at current prices

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Gustl

@defisexbot

2 years

@0xdef1 STAHP

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Joel John

@joel_john95

2 years

@0xdef1 this played out in the last bear market, I even wrote an article on this at the time

Stablecoins And The Fat Protocol Thesis

A breakdown of how the fat protocol thesis fails to play during a bear market

www.decentralised.co

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Exiled ⛓🕸

@0xiled

2 years

@0xdef1 then what happens?

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MIR ∎ 森林

@berasmurf

2 years

@0xdef1 wait doesn't that incentivize a sybil attack?

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Rockman

@0xRockman

2 years

@0xdef1

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Raphael Spannocchi

@raphbaph

2 years

@0xdef1 would that be the official end of the Fat Protocol Thesis?

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Based Toschi

@BasedToschi

2 years

@0xdef1 👀🤔

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tmnxeq

@tmnxeq

2 years

@0xdef1 @AFDudley0 *Assumes the MC of centralised stablecoins stays constant (v unlikely)

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tlopplot

@Tlopplot

2 years

@0xdef1 And why does that matter? ETH isn’t LUNA

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Yaoi.sats ♦️

@biggiedabs

2 years

@0xdef1 So the dollars have more value than the system that gives the dollars value ? 😵‍💫🥴

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FKA 2513

@punk2513

2 years

@0xdef1 Bear market tings

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Tang

@TangTrades

2 years

@0xdef1 why does this matter

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kaiju

@0xKaiju

2 years

@0xdef1 perspective

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uvileo

@uvileo

2 years

@0xdef1 @ELI5ofTLDR

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Giver of Gifts

@DegenSantaMan

2 years

@0xdef1 If that happens I would swap all my stablecoins for eth

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