[jollybean]

"If there was some crypto without any incentives of hodling long term, "

The opposite.

Cryptos that are anchored to USD have no appeal. They're less useful than USD, and, there's no 'get rich quick' aspect. So what's the point.

The Ponzi Mania is what drives people into BTC and to talk about it incessantly on the Internet etc.. Without the mania, it's not going to spread.

An institutionalized crypto, like one by the government, and which had some kind of stability (i.e. central banked) would probably get critical mass and therefore have some utility.

El Salvador leader is basically criminally derelict, he should be jailed.

[sparkie]

The use of "stablecoins" is for crypto arbitrage. Exchanging to USD via traditional means is just too slow to take any risks.

There was an early alt-coin, http://freico.in/, which had a demurrage fee for holding, which was intended to incentivize spending over saving. A terrible idea if you ask me.

Long-term saving is the biggest selling-point for Bitcoin. If the value of savings went down by design, it would have never got to where it is.

[redox99]

There's about 150B in stablecoins[1]. You can argue that some of that is fake, not backed. But even if 75% of that were fake it's still a huge amount of money. So it's clear that cryptos that are anchored to USD do have appeal.

The appeal however is not from people wanting to use them to buy their coffe. The appeal is DeFi.

[1] https://coinmarketcap.com/view/stablecoin/

[jollybean]

$150B is a small amount of money that is otherwise just sitting there. Nobody is using it for anything and it's not growing.

It's generally a riskless thing thing to put your money in so it's not surprising that a few funds have gone big on it. They will fold the bet eventually.