I Think Young Dollar Maximalists Are Uncomfortable
In the cryptocurrency world, there are maximalists of many assets, especially Bitcoin. For these maximalists, only their own currencies are valuable, others are waste, and eventually the world will completely switch to its own currencies.
As I have written and explained many times before, I do not agree with this view. I believe that there should and will be a wide variety in the future, both in the cryptocurrency space and within the framework of other monetary assets.
The interesting thing is that there are maximalists against cryptocurrencies as well, for currencies that are based on will and have no borders. Of course, the most powerful of these currencies is the American Dollar ($).
A few days ago, a great news came from the world electronic payment and credit card giant Visa. Visa, which has previously announced that it will carry out important activities in the field of cryptocurrencies, announced that it can allow transactions with USDC, one of the largest stable cryptocurrencies tied to $ in payments. The company announced that it has begun testing USDC transactions on the Ethereum network.
The news was welcomed in the cryptocurrency community, as it is thought to further increase the adoption of these assets. Prices started to increase in stock exchanges. Of course, the other party is very angry with the situation. Young dollar maximalists are sorely uncomfortable, especially in the US.
They say: “This is just a trial run. Previously by other companies
a lot of such attempts have been made. All of them were inconclusive. Why should it be successful now? " Also, "The Ethereum network is very slow and very expensive, it is not possible for Visa to make large amounts of USDC Transactions here. What will Visa gain from this in the real world? "
The same $ maximalists have said for years that Bitcoin "It's just an experiment, it's too slow and expensive, you can't even shop in real life, using it, will be banned soon, trial version, etc." They say. What happened? The world's largest companies, the most famous investors, the wealthiest businessmen have entered the race to add Bitcoin to their balance sheets as a reserve asset. I also appreciated how your proposal looked exactly like this combination of extreme conspiracy theorists, with this $ maximalist blustery rhetoric on TV in Europe for years.
Now, $ maximalists are scrambling over this new news. While they are struggling, Visa states that it is carrying out these transactions with high demand from customers. While world giants such as PayPal and Visa are so active, other rival companies or even other companies in other sectors cannot stand still.
What will happen is this: Just as Tesla started or will start accepting Bitcoin and Visa USDC for payments, many other companies will take this path. Over time, they will start to experiment and use faster and cheaper blockchains. Or they will start using more centralized but fast and cheap parallel networks called L2, which are prepared for large crypto assets such as Bitcoin and Ethereum. Let Madame Lagarde and his local and foreign supporters clap as much as they want, someday the central banks will also receive assets such as Bitcoin.
As Bitcoin is in its rising season today, we see these movements happening much faster. After a while, Bitcoin will enter its fall season, and these $ maximalists and conspirators will shamelessly say (as they did in the past), "Bitcoin is dead, we said, what happened, all trials came out."
Of course, when the rising season starts again, both Bitcoin and other cryptocurrencies and especially new blockchain projects that are faster and cheaper will continue to spread tremendously, this time faster than before.
So $ maximalists and conspirators would expect a lot. If you want, get on the table and top it! Cryptocurrencies are here, they will not disappear and they will develop rapidly. We will wait and see this together.