$PepeCoin is an incredible story.
officialpepecoins.medium.com/pepecoin-a-year-in-review-2023-39bed7ed4b07
Did you know that @pepe is not the OG $Pepe?
@pepecoins was the 2nd meme-coin to launch after dogecoin in 2016 and even built the first NFT marketplace way before opensea.
Few know this because they got caught in 'The Great Memwar' of the '16 US election and had to rebrand.
bitcointalk.org/index.php?topic=1391598.msg14369954#msg14369954
The PepeCoin devs strategically kept the name PepeCoin on platforms like CoinMarketCap, Twitter, and in their GitHub source code.
They have been back as Pepecoin since April '23 and continue to ship... Their website is incredible and they build @getbasedai
The #Pepening seems inevitable over the long term.
NFA, DYOR
Are Stablecoins beneficial to the US? I'd say yes. Here are the pros and cons:
Contra:
- Fully-reserved banking (Modus Operandi for Issuers) is expensive for the Fed with a high Interest on Reserve Balances (IORB)
- A Stablecoin Run - Systemic Risk. The New York Fed published a report in Sep '23 comparing Stablecoins to MMFs
- Reduced Control over Dollar Flows can limit the enforcement of sanctions and AML measures
- Contrarian to the current Quantitative Tightening Policy
Pro:
- Debt Absorption. Stablecoins are set to become the largest holder of US Treasuries. Crucial in times of declining foreign appetite
- Dollar Proliferation and Dominance. Dollar demand & usage in EMs is (quietly?) blowing up through Stablecoins
- Competition in Global Regulation. Stablecoins are global by nature. Multiple top-tier jurisdictions, including Singapore, Hong Kong, and Japan have pioneered legislation
- Inevitability. It is not a question of whether the digital money revolution will occur but rather how soon.
In hindsight, it will likely be clear that money should have worked like the internet. We'll look back at this like we do on long-distance calls today. Publishing an in-depth piece on the topic soon.
Who thought we'd surpass the $ 5t that quickly? $GELD
twitter.com/WatcherGuru/status/1777114501587878376
On the way to a crypto hack. Airport security just asked me "why do you have this TELEVISION in your luggage"