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The freedom that allowed a seamless experience is chopped up by security concerns ham-handedly and haphazardly applied, and on most platforms most of the time topped with having to pass the needle's eye of a trillion dollar enterprise's hungry bean-counting and control. All for the purpose of being a populous platform for its own sake; for having more apps that cost little, grey gruel instead of food; for padding a bottom line if you're cynical, or stroking a corporate self-image run amok.
I read it not so much for what the author meant to say as for what the text incidentally or unintentionally reveals.
Keith Thomas · Diary: Working Methods · LRB 10 June 2010
lrb.co.uk
Even outside of crazy hypotheticals where you build a stablecoin to track a Ponzi index, the stablecoin must somehow be able to respond to situations where even at a zero interest rate, demand for holding exceeds demand for borrowing. If you don't, the price rises above the peg, and the stablecoin becomes vulnerable to price movements in both directions that are quite unpredictable.
Two Thought Experiments to Evaluate Automated Stablecoins
vitalik.ca
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