Oddbean new post about login | logout 1) If the free market is deflationary…..Ie - prices are supposed to fall…..then…what is a “stable” coin? 2) A “coin” that gains it “stability” by losing value at the exact same rate as a currency. 3) Which is by very definition, the system that we have today that stops the free market by manipulating money. Hope that helps.
Thanks, that part I understand totally. Stability is an illusion in a universe that's constantly in flux. What I can't quite see yet is how the transition will take place. Gradually vs suddenly or what the final warning signs will be. The gradual route seems more ideal/peaceful, but historically speaking technology is not adopted that way. Most days I am still shocked more people don't see it.