Sir,
These are people’s lives and livelihoods.
In my opinion and this has tons of historical precedent…the switchless design you speak of is a myth. Someone will break it like the gold standard.
You speak of math, 1:1 is a reserve ratio … that holds until just the very moment it becomes too politically inconvenient, too unpopular.
For enough humans, a critical mass. Made to believe a lie for too long, that their “Justice” was less important than a cold, hard algorithm. History, my friend. History, and human behavior. We want the same things.
The 1:1 ratio, it was a myth, people could deny that but next thing the president’s on TV and the mask comes off, it’s the same tired game again with new wine in old bottles.
There is no switchless system. Now, do you want accountable power with documented constraints? The alternative is not “no power”. The alternative is foolishly pretending no power, then later, scrambling, frantically improvising, and ultimately submitting in fear … to an untamed power, one too long restrained and unacknowledged, accountable to no one, arbitrary, and capricious. DAO hack. Cronos/Tectonic. Harmony rollback.
When losses become existential, human governance has a funny way of re-appearing at the helm anyway.
I choose the former.
I respect the other path, but it was never a world worth my time and energy.
We’re all here working to the same goals. Let’s acknowledge human imperfections.
Then let’s get back to work creating wallets, overlays, apps, and systems where human hands steer the ship of the world …
Not cold, steely Terminator ones ;)
The price of human freedom will ALWAYS be human vigilance, no system can ever change that.
Anyone who tries to tell you otherwise is either uninformed, or a tyrant.
Stay vigilant, my friend.
I’m leaving this thread here, I have to get back to other things.
Have a good week ahead!