Sure, I get your point. I don't really consider stablecoins or even most cryptocurrencies true crypto due to human control (which invalidates the value of crypto).

I've watched for over a decade how this forum utterly decimates any actual discussion of crypto (bitcoin) due to willful ignorance or blind naivety. So excuse my excitement when I get a chance to actually discuss its merits or disadvantages.

In this sense, I will agree that stablecoins are just a technological way of obscuring certain mechanisms in how fiat currency is distributed and is basically a derivative instrument that exists outside established regulatory framework (similar to how uber/airbnb operated for a decade until the govt caught up)