Thread by @DamelonBCWS

Stablecoins are, to crypto people, about as useful as nipples on a breastplate and dangerous to boot.

ccn.com/paxos-standard… via @cryptocoinsnews

Just putting aside the fact that they are not sustainable (look to @prestonjbyrne for more analysis on that front), they open up a huge can of surveillance possibilities on your money that are less intrusive when not using them.

I'd rather NOT give any info to an unknown entity in order to get at my value, thank you very much.

Just like people are suckered into giving tons of personal information for the privilege of just communicating with each other on T'internets via third party sites, the same is apparently happening here with your monetary transactions. Gee whiz, what a surprise.

Just because something is based on "crypto" (this is debatable in itself), doesn't mean it offers you the same features. You can build very insecure systems on top of secure ones.

In just a few years, luckily, no one can say they were ignorant. Plenty of us around who shout about these schemes being idiotic and unsafe. You can KNOW. Starry-eyed ignorance is not a good defense.

Become critical, cynical even, when looking at projects. Assume the worst. Assume people are out to get your money and details.

Not because you are paranoid, but because it's likely true in this sector.

That means you have to protect yourself, by gaining knowledge, by thinking critically, by becoming a critical reader and by questioning endlessly.

That's part of the baggage you need to acquire if you want to learn.

It's perfectly possible to be happy and critical at the same time. It's possible to be likeable and critical. These things to not cancel each other out. You do not need to be a gullible fool to be a nice person.

I get the feeling people think they are mutually exclusive.

If there is anything I wish for the new year, it's a huge growth in honest critical thinking to happen, coupled with a healthy dose of excellence in expressing those thoughts.