UST had been a good stablecoin, until it was not. From what I know, UST was behaving as expected until it encountered an extreme situation which caused the cascade failure which has been dominating the news.
Algorithmic stablecoins are designed to handle the most common situations as well as widely-known extremes. It's hard to code to prevent against something unforeseen.
As best as we try to idiot-proof something, it takes an idiot to break it. Maybe we need to incorporate idiots into the stablecoin coding and development process? We may never be fully successful in idiot-proofing any stablecoin, but maybe this approach can keep UST-like scenarios rare enough that we can feel good about trusting whatever stablecoin we want to use (including HBD).
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I like your theory on idiot proofing things, although a true idiot can always find a new way! !LUV
@crrdlx(2/4) gave you LUV.
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Exactly!
Developers can code for the obvious errors, and they can even anticipate certain situations brought to life by some "idiots" out there. Logic errors can be extremely difficult to track down, and sometimes it takes an "idiot" to bring them to light.
"Idiot" here means someone who behaves in unexpected ways due to mindset, not someone who is stupid (that's
idiotwithout the quotation marks).Posted Using LeoFinance Beta
!hbit I hear you.
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My reply was meant for @crrdlx, so this makes me the idiot! LOL