Nothing is absolutely stable and inflation is a huge myth
Yikes, I take one week to clear my head and another LUNA-UST madness breaks free, I thought you all said USDC was king and USDT was fart ? Where does HBD even lie in all this? If you ask me, that shit doesn't give a fuck what goes on in the markets, cause the bitch been so used to being fucked so much and left unstable in many occasions that it isn't a new thing anymore, so that means, HBD has taught us that stability is in the mind, and it is nothing absolute in reality, so screw any network thinking there's an ever effecient way to hold a peg, that's bullshit.
In economics, it's not a desirable factor nor is it achievable
Many people at some point will ask the question "What is the role of the feds?" and maybe on Hive we can compare that system with one governed by algorithms, the bigger picture becomes so blur because both systems effectively end in the trash because for some reason we believe in the myth "inflation" and the dollar isn't worth a dollar anymore, well, it sounds stupid when you put it that way.
A dollar is still a dollar, just as bitcoin is still bitcoin regardless of what the market pricing is, so please, when you see crazy maxis selling that crap marketing quotes of "1 Bitcoin is 1 Bitcoin", do me a solid and comment "1 dollar is 1 dollar" because let's get down to earth, that's really what it is. What makes a difference is that the markets decide, but looking at the government system and the Bitcoin network, the difference is that one is controlled by the speech of a man whereas the other isn't subject to even 10, so it's really a battle of let's see which has better economic structures, Bitcoin(crypto) or the dollar.
Not still clear what I'm talking about?
Nothing is absolutely stable and inflation is a huge myth
USDC depegged, and some people are tying this to the insolvency of Silicon Valley Bank, does anything in that story check out? Hell I don't know and don't care, I might have a headache researching that but this isn't the first time I've heard USDC get called out to be a massive plan to get some dirty games into the crypto space, I've had to watch a rather long video on it, maybe I'll do another post when I'm able to find it, in the meantime, what's to be addressed is the panic that occurs when these rather little events take place.
Before proceeding, I'd ask, have you even panicked simply because HBD depegged? Well, to us it's just a norm and we quite frankly understand the value - arbitrage, of course, it can be disastrous but the fact that we are unmoved by such events is how this ecosystem actually attains stability.
Nothing can be absolutely stable, every so-called stable coin will one after the other experience a depeg, some more disastrous than others but many rebounds will be experienced as long as we're more sensible than Do Kwon or whatever he's called. Then again, this isn't the only thing that needs to be addressed, the fact that many people believe inflation is a thing is crazy.
Not to confuse you, yes, prices of things go up that you can only buy little afterwards, but that doesn't mean the currency lost any value, no, no, it simply means that production companies decided to increase their products prices and employers have refused to increase employees salaries despite making more $$$ in the process, this is the greed in the system and is pretty much what the "free market" is all about, so if you're advocating for crypto, you best be ready for that shit you term inflation because it will still exist, only that offsetting the effects will not rely on a centralized body but a widely distributed board of governing parties called tokens holders and miners in cases of PoW, PoS and DPoS consensus mechanism governed protocols.
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