Excellent write-up, my good sir. As a perma-bear on US stocks, I see no way to safely store wealth in fiat, as the daily devaluation of the currency lowers purchasing power closer and closer to absolute 0.
I remember learning about UST as it was just beginning to explode last year (after i speculated a little on LUNA - not a good idea), and thinking, how is it possible that they guarantee a 20% return on deposits, when the Anchor Protocol is barely lending out 30% of deposits for income.
It was as if Terraform Labs originally created a wildcat crypto bank that had 0 oversight or accountability when SHTF.
I am extremely bullish on HIVE longterm, and HBD as well. I believe that HBD is the only stabelcoin currently in existence that isn't actually directly pegged to a fiat currency (or basket thereof, looking at the upcoming $SILK stablecoin from Shade Protocol).
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The utility of both UST and LUNA was minimal at best. That was the main problem from the beginning.
As for the US market, to me it is risk on/risk off. We are in the latter right now. By the end of the year, I am going to position myself for the flip to risk on.
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i gotcha. Yeah I've avoided any stablecoins other than HBD, and I chose HBD because it isn't totally controlled by BlackRock coughUSDCcough or Paxos coughBUSDcough
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