In the crypto space, if you want to quickly gauge whether someone truly understands the industry, just have a conversation with them about stablecoins. Casually mention USDT, USDC, or DAI, then discuss the recent stablecoin legislation in the US and Hong Kong, as well as the news about Circle going public, and observe their attitudes and opinions.
For those who have a slight understanding of the crypto world, the usual reaction is: 'Stablecoins? Aren't they just pegged to the dollar?' They may have heard of USDT, and in light of the recent stablecoin legislation introduced in the US, they might say: 'The government is finally starting to regulate; anyway, there shouldn't be any major issues with stablecoins.' They remain at the simplistic understanding of 'stablecoin = stable price' and are completely unaware of the systemic risks it faces behind the scenes.
Ordinary individuals might confidently say: 'Stablecoins are meant to prevent price fluctuations.' They know that the core purpose of stablecoins is to provide a relatively stable digital currency, but they have no concept of the difference between decentralized stablecoins and fiat-backed stablecoins, and they are completely clueless about the issuance mechanisms. When mentioning 'regulatory risks' or the news about Circle going public, they might just laugh it off: 'Anyway, its price is stable; there shouldn’t be any speculative opportunities.' It’s only when they see Circle's stock price soar that they realize: 'I've missed another wave of free opportunities.' Some mediocre individuals love to complain: 'The space is becoming more centralized, moving further away from the concept of decentralization; it’s really boring.' But when asked to study regulatory policies, fiat backing, decentralized mechanisms, etc., they are too lazy to think.
Those who truly understand the industry typically respond very rationally and professionally when you bring up stablecoins. They will directly discuss the complexities of the 'minting model' or 'anchoring mechanism,' or deeply explore the potential market fluctuations brought about by Circle going public. They are more concerned about how the latest stablecoin regulations in the US and Hong Kong will affect the entire crypto market and how to maintain decentralized characteristics under a global regulatory framework. They no longer just stay at a superficial understanding but delve into how it plays a bridging role in the global financial system and how to innovate under regulatory pressure.
As for those with ulterior motives, they may pretend to be knowledgeable in their social circles: 'Stablecoins are the trend of the future.' But when you check their trading platform, you'll find they are too busy to even have half a USDT or USDC in their CRCL wallet. Their only concern is whether they can make a profit from Circle's IPO; they have no interest in the development of stablecoins.
In short, if you want to quickly identify whether someone truly understands the crypto space, just talk to them about stablecoins. Those who can delve into the mechanisms behind it not only have a broader perspective but can also make more accurate judgments about future changes in the financial market. May you find someone who can analyze the regulatory developments of stablecoins with you and discuss how Web3 can closely integrate with stablecoins.
#币圈现状
$BTC
