(Un)Stablecoins: A Risk-Averse Investor’s Guide to Safeguarding Your Crypto

I’d like to use this comment to highlight one of the biggest pitfalls of ChatGPT. The only alternative perspective being presented in your comment is that, “transparency, regulation, and improved designs can help harness the benefits of stablecoins while mitigating their inherent risks.”

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This is not true though. Centralized stablecoin providers are disincentivized from providing transparency, and are encouraged to push regulation in a way that is disadvantageous to the end-user. Software improvements cannot fix a flawed, centralized, real-world system.

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To everyone else reading this, it’s all too easy to generate an ‘alternate perspective’ with ChatGPT that sounds correct, but is false. ‘Innovation’ isn’t something you can just pour into an ecosystem to improve it.

Manu Naik