> the UX of stablecoins is becoming vastly superior to bank deposits because you'll be immune to bank runs, control your own money, and have instant access to global markets, including for low-risk yield on your stablecoins, such as in treasuries or over-collateralized lending
I disagree, but OK
> over the weekend, USDC did lose its $1 peg and trade as low as ~$0.88
Hmmm doesn't seem like a Very Good Deal for an ordinary person.
> However note
Oh, now I see what you're doing. It's a Very Good Deal, except reasons
> However, all USDC holders were able to maintain access their USDC to do whatever they wanted with it
So it might have dropped 12%, but they still had access. That's a win to you?
Your definition of stable is vastly different than mine.
My FDIC backed bank account is guaranteed not to lose value.
I don't understand the cognitive dissonance on display here.