LobsterDAO 🦞

03 Apr 2025 01:47

That's exactly what lead to boom in Nigerian users in 23/24, desperate to get money out of naira. Little known fluidfi was selling their depegged stable for full value.

LobsterDAO 🦞

03 Apr 2025 01:06

https://x.com/PrimordialAA/status/1907512286014800195

LobsterDAO 🦞

02 Apr 2025 23:25

kinda - in the EU for example they have a concept applied to CO2 emmissions where they tie the original "emitter" of a part and have it tracked all the way to the consumer - that way they get all the tax dollars - you could do the same with tariffs

LobsterDAO 🦞

02 Apr 2025 23:18

the issue with tariffs is nearshoring exists

LobsterDAO 🦞

02 Apr 2025 22:02

It's the framing of the argument that is misleading, imho. It obviously doesn't make economic sense to do localCurrency->crypto->stable->localCurrency for every transfer. Even if a merchant (say a grocer) accepted crypto/stables as payment, ultimately transactions will be settled in the local currency as crypto isn't a native/first class citizen of the national economic system.

The point I am making is about cross-border transfers. Nigeria has one of the highest crypto activity and 99% of this is simply cross-border transfers, not any base crypto narrative/sentiment

LobsterDAO 🦞

02 Apr 2025 21:49

It depends on which regions you are dealing with and the route taken. Even before USDT, BTC on P2P (with 6 confirms or 1 hr wait and P2P merchant fees) was much cheaper and faster for cross border payments in LATAM and Africa. It was common to see value increase of 30%+, even for small value transfers. Ofc, transactions are settled in the native currencies on either side of the border. That's by design, isn't it - as each county/region has its own payment system.

Even now, I'll use crypto for 9 out of every 10 transfers done in these regions.

LobsterDAO 🦞

02 Apr 2025 21:20

didn’t see this one coming

LobsterDAO 🦞

02 Apr 2025 19:29

FDUSD seeing meaningful volume for the first time 😂

LobsterDAO 🦞

02 Apr 2025 19:23

You guys bought the dip at 0.9?

LobsterDAO 🦞

02 Apr 2025 19:08

Finally altseason against FDUSD on Binance

LobsterDAO 🦞

02 Apr 2025 18:51

I mean that's true for sure.

LobsterDAO 🦞

02 Apr 2025 18:36

In a situation like this, it’s so easy. Someone makes a tweet/article before shorting a stablecoin and then longing when someone says its not true

LobsterDAO 🦞

02 Apr 2025 18:33

Probably through these kind of tactics

LobsterDAO 🦞

02 Apr 2025 18:31

Where does Sun source his infinite money from?

LobsterDAO 🦞

02 Apr 2025 18:26

and that first digital as a whole is insolvent

LobsterDAO 🦞

03 Apr 2025 01:06

for those who remember, lol

LobsterDAO 🦞

02 Apr 2025 23:30

Exactly my point. Even with Wise, you can't convert FROM most african curr. (except ZAR) and the TO rate is ridiculous.
Also, similar point with the savings.... It is less risky and more profitable to hold USDT onchain/Binance than to put your native currency in a high-interest savings account or in govt bonds in many of these countries... It is this use case that then gets people interested in crypto narratives

LobsterDAO 🦞

02 Apr 2025 23:18

ship china parts to mexico, assemble in mexico, ship from mexico to us

LobsterDAO 🦞

02 Apr 2025 22:20

In LATAM Western Union and the likes still dominate the cross-border /remittances market while charging absurd fees but I believe mostly because they offer a physical store or partner with Groceries stores making it convenient for those receiving the cash ( many do not even have a bank)

Generally speaking a wire transfer is still very expensive (30-70$) in the region and while each country does have its Venmo-like app with minimal txn fees there is definitely a market for a fintech app that handles multiple currencies and integrates a debit card

Many banks do offer cheap crossborder txs but usually not to individuals but businesses who operate in multiple countries ( BAC has a 5$ fee for interbank txs called Ameritransfer) or individuals with a really high net worth who have accounts in multiple countries

In Argentina due to the volatility of the currency and abuses by Government many people even used to use Binance as their USD savings account and weirdly enough Tron was very used for stable transfers between users. Dunno if that changed with Milei

LobsterDAO 🦞

02 Apr 2025 21:56

Yes, but still, not for local day-to-day payments.

And there are A LOT of misleading data around:
For example : https://www.linkedin.com/posts/pattiruss_2025-solana-stablecoin-report-activity-7312753092486156288-_rsT?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAV-Fs0Bmhvr-_zm6BKxYtvfvFqi9MiQOCE

Nobody pays for local day-to-day txs of 20 euros/dollars fee. However, researchers still use cross-border numbers to prove local usage of stables

LobsterDAO 🦞

02 Apr 2025 21:26

2am est finally Fozzy gets closure

LobsterDAO 🦞

02 Apr 2025 21:20

Justin Sun is now my best friend

LobsterDAO 🦞

02 Apr 2025 19:24

0.9 was tricky but now seems safe

LobsterDAO 🦞

02 Apr 2025 19:22

So, buying FDUSD is a profitable trade here right?

LobsterDAO 🦞

02 Apr 2025 18:53

https://x.com/firstdigitalhq/status/1907475712447230173

LobsterDAO 🦞

02 Apr 2025 18:36

Or just buy the dip if it’s not on leverage

LobsterDAO 🦞

02 Apr 2025 18:34

Not saying this is what happened here but big players found out a long time ago they can earn millions from playing the social media card while shorting/longing as much as they want

LobsterDAO 🦞

02 Apr 2025 18:32

I swear he is just the front for either CCP or DRPK

LobsterDAO 🦞

02 Apr 2025 18:27

and Sun going to buy one more banana now

LobsterDAO 🦞

02 Apr 2025 18:26

they are claiming first digital mismanaged funds for TUSD reserves