It's a multi-billion dollar industry, thus most of the pro-stablecoin opinions you'll read were paid for in one way or another.

Obviously decentralized technologies don't make stablecoins any less centralized, they are still just some companies liabilities and may as well be SQL entries. It's all theater and manufactured hype (see above)...

However, it's become a multi-billion dollar industry because they've proven useful at one thing: scamming the regulator.

Stablecoin companies have made a fortune by simply juking around borders and regulation through technobabble and bullshit, but in many cases also providing better service to their customers than a regulated bank can.

Is it innovation? No.

It is however free-banking, which would once be considered good from a purely Libertarian perspective.

In a world where Bitcoin exists though, free-banking is redundant... obsolete even. So, stables are "bad" because they are a reminder of how far we have yet to go in upgrading people minds and behaviors to a Bitcoin standard.

Stablecoin users are like AOL users of the early internet.