Re:Top stablecoins shed $7B in May as traders redeem tokens ...
by Jommi on Tuesday May 24, 2022 @02:20PM
(#31495681)
Not sure where the idea that "hubris" is what causes these bugs that result in loss of funds. Sounds like a very subjective take.
Yes, it's costly to build an anti-fragile system. This is not a surprise to anyone.
Our current monetary system is not anti-fragile. We saw it in 2008. Because of these regulation safeguards you mention, moral hazard appeared and true safety has never been achieved.
Now to be clear, I am not saying this is the only way to build a monetary system. It's just one way.
>often the money is gone to North Korea.
another flavored, subjective take. You link to one such case.
You are using multiple logical fallacies in your comment, I would re-evaluate what you actually want to discuss/learn and then respond accordingly. Currently it just seems like you are angry at something.
Yes, it's costly to build an anti-fragile system. This is not a surprise to anyone.
Our current monetary system is not anti-fragile. We saw it in 2008. Because of these regulation safeguards you mention, moral hazard appeared and true safety has never been achieved.
Now to be clear, I am not saying this is the only way to build a monetary system. It's just one way.
>often the money is gone to North Korea. another flavored, subjective take. You link to one such case.
You are using multiple logical fallacies in your comment, I would re-evaluate what you actually want to discuss/learn and then respond accordingly. Currently it just seems like you are angry at something.