[davidlee1435]

Right now, the stability of your currency is mostly dictated by where you were born

My point is stablecoins give you choice to opt out of that. The only way to opt out before was very expensive

[XorNot]

This is as wrong as everytime someone says "the benefit of Bitcoin is you can just walk all your assets across the border!"

It fundamentally misunderstands how foreign exchange works, or how government backed currency works.

You cannot "opt out" of the local currency: period. It is the only currency which can extinguish tax obligations. And even if it wasn't government backed, you can't trade in a currency no one wants in the first place.

This should be trivially obvious from the observation that how much water a gold bar in the desert buys you is going to be pretty highly variable.

[davidlee1435]

Just because badly managed local currency is required for taxes doesn't mean that most people in that country _must want_ to hold it. Plenty of trivially obvious evidence to the contrary

I assume you've never experienced hyper-inflation? If you have, do you think it's fair that you were forced into a hyper-inflationary currency? And, if given the means to, do you think it's fair that people _should_ have the ability to choose?

[whimsicalism]

you’ll note that many countries that impose capital controls have large informal economies. this is not a question of theory, there are many countries where millions of people do hold significant sums in dollars and other foreign currencies, regardless of whether they fulfill tax obligation. enough people do this and you also get the informal economy transacting in these currencies. you are “proving” the non-existence of something that in actuality is practiced by millions of people every single day.

[Yizahi]

And now western countries can also have ultra corrupt, opaque and controlled by a small oligarchy group currency system, just like some 3rd world countries. Yay, progress :)