[everfree]

Sorry, but I thought you said in your last comment that you believe USDC will be outcompeted by a centralized solution. Do you believe that, or do you believe that there is not enough demand to justify the regulatory headache of launching a centralized solution? Those seem to me to be opposing viewpoints.

[defiamazing]

Yes, because Circle will either start using whitelists at which point it will shrink to the point where competition is trivial or it'll just shut down completely. If for some reason there's massive demand in the next decade for sub-minute international money transfers then surely CashApp will get back on that. There's just not, existing slower solutions work fine in most cases and not enough people need something better.

Also important to emphasize, I know I said it'll be outcompeted by a centralized solution. But actually USDC is centralized because it has a multisig, and all of its contracts are 100% upgradeable. So it's like a very inefficient centralized solution that really doesn't belong on a blockchain or at least not a popular one with high fees. But again, DeFi protocols exist, and people want to swap USDC for crypto hedge funds to frontrun.