Not true for stablecoins, which aren't really cryptocurrencies. The most important single-point-of-failure in currencies is the supply mechanism, which must be

Not true for stablecoins, which aren't really cryptocurrencies. The most important single-point-of-failure in currencies is the supply mechanism, which must be trusted. The supply of centralized stablecoins can't be trusted. It is open to human greed, errors and hacking. Do you trust Mr. Zuckerberg having control of the future money supply? Centralized stablecoins should be illegal, because the issuer can print money from thin air without collateral, unlike banks which are regulated and the money supply is controlled with interest rates.