Ok, so we’ve got a single stable coin that’s been fairly stable for 5 years, good start.
Now, how do I know which ones that were around 5 years ago…would be this stable, 5 years back in time?
How do I know this one will be stable for another 5 years?
Is there… some kind of objective analysis I can do here, of all stablecoins, to at least have an idea of this, or am I throwing darts while blindfolded?
Businesses tend to like certainty and predictability when it comes to the fundamentals of their operations.
USDC and USDT have also been stable for quite some time.
USDC might be the only one I’d really trust though. Since it’s backed by Coinbase and Circle, it seems extremely unlikely to break down in any way. Because the powers at be wouldn’t allow it. Too much institutional investment.
This is an extremely unreasonable paradigm to expect a business, or really any kind of enterprise or endeavor beyond a fairly low stakes hobby to be built off of and operate from.
A good manager can address this problem by hiring engineers who understand what they’re talking about. There’s no score for decentralization because there’s a lot of moving parts; it’s not just a single percentage score.
Every single large scale retailer I am aware of, that has attempted to offer an ability to buy at least some segment of its goods via a crypto coin, directly… has abandoned this attempt after a few years.
You just assert this problem is solved by hiring ‘competent engineers’, yet no one has actually figured out how to do this, beyond basically black/gray markets, and hyper niche privacy oriented digital services.
Again, the managers, the CEOs of this business… would still need some way of objectively assessing what is and is not ‘competent engineering’.
I… assume you are not familiar with modern software related hiring processes, where it has been a running joke for over a decade that HR has literally no comprehension of what they ask for in job postings, and thus has no real way to evaluate candidates by competency, they often cannot even come close to even describing the actual nature of the job.
Do you actually need another example, this time of a company accepting crypto for 5+ years? Yeah, hiring competent engineers is hard, yet you’ll still go out of business if you don’t. 😭
Yeah, hiring competent engineers is hard, yet you’ll still go out of business if you don’t. 😭
Oh yeah sure totally, not like 1/5 of the US tech sector just got laid off and their work handed to LLM AIs and a handful of vibe coders that literally are definitionally incompetent.
You completely do not understand how businesses work.
Keep dreamin buddy, you can get to the moon if you master astral projection.
Ok, so we’ve got a single stable coin that’s been fairly stable for 5 years, good start.
Now, how do I know which ones that were around 5 years ago…would be this stable, 5 years back in time?
How do I know this one will be stable for another 5 years?
Is there… some kind of objective analysis I can do here, of all stablecoins, to at least have an idea of this, or am I throwing darts while blindfolded?
Businesses tend to like certainty and predictability when it comes to the fundamentals of their operations.
USDC and USDT have also been stable for quite some time.
USDC might be the only one I’d really trust though. Since it’s backed by Coinbase and Circle, it seems extremely unlikely to break down in any way. Because the powers at be wouldn’t allow it. Too much institutional investment.
Yes, by which ones are peer to peer and which ones are centralized. That’s also why there doesn’t need to be a bunch of them.
Cool, how do I determine that?
Is there some kind of… universal metric, a p2p to centralized scale, that is accurate, transparent, and stays basically the same… for a deacde?
Unfortunately not, it’s like picking the right Unix-like OS in 2003.
It’s always been BSD, it’ll always be BSD.
… and that is my point.
This is an extremely unreasonable paradigm to expect a business, or really any kind of enterprise or endeavor beyond a fairly low stakes hobby to be built off of and operate from.
A good manager can address this problem by hiring engineers who understand what they’re talking about. There’s no score for decentralization because there’s a lot of moving parts; it’s not just a single percentage score.
Every single large scale retailer I am aware of, that has attempted to offer an ability to buy at least some segment of its goods via a crypto coin, directly… has abandoned this attempt after a few years.
You just assert this problem is solved by hiring ‘competent engineers’, yet no one has actually figured out how to do this, beyond basically black/gray markets, and hyper niche privacy oriented digital services.
Again, the managers, the CEOs of this business… would still need some way of objectively assessing what is and is not ‘competent engineering’.
I… assume you are not familiar with modern software related hiring processes, where it has been a running joke for over a decade that HR has literally no comprehension of what they ask for in job postings, and thus has no real way to evaluate candidates by competency, they often cannot even come close to even describing the actual nature of the job.
Do you actually need another example, this time of a company accepting crypto for 5+ years? Yeah, hiring competent engineers is hard, yet you’ll still go out of business if you don’t. 😭
Oh yeah sure totally, not like 1/5 of the US tech sector just got laid off and their work handed to LLM AIs and a handful of vibe coders that literally are definitionally incompetent.
You completely do not understand how businesses work.
Keep dreamin buddy, you can get to the moon if you master astral projection.