Trusted third parties are security holes. To try to fix them without advanced computer science & copious computational resources, they inevitably end up being obsessed about governance. That's the layman's best clue that they are dealing with an insecure protocol.https://twitter.com/nlw/status/1151553014307704837 …
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you need stable coin rails to do commerce. Let's be real, people don't own Bitcoin to spend it. Stable coins built on good protocols are the only hope for commerce to circulate in the crypto ecosystem.
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I'm a little lost. When I said good protocols, I mean ones such as Bitcoin. Not some centralized payment processor. Did you miss understand me, or am I reading you point wrong?
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A reliably stable coin that has the most important security characteristics of Bitcoin doesn't exist. Nobody AFAIK knows how to do it, and it may well be that it can't be done. So they sooner or later succumb to politics (Libra, it seems, sooner rather than later).
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Interesting idea, I don't discourage pursuit of it, but seems to depend on an unlikely distant future where electricity is never highly subsidized and hardware innovation is no longer possible. And the stable coin will have to pay a big risk premium to the much-less-stable-coin.
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