The 'Path to Ascension' of Virtuous Currency: Why Do Decentralized Systems Often Face Stability Crises?

To become a 'virtuous currency' that embodies both morality and artistry, an asset must pass through four levels like cultivating immortality: Attracting Value (吸金), Scale Development (扩张), Stability Mechanism (稳如泰山), and Economic Utility (经世济民). Sounds simple? Don’t rush, the devil is in the details.

The 'Dream of Freedom' in Decentralization: Idealistic Yet Stark Reality

Cryptocurrencies claim to be 'trustless, where code is law,' but every time a crisis hits, it resembles a lost child, barely surviving by relying on the discretion of 'invisible good Samaritans.' The larger the system, the more coordination feels like a bustling market — with more people, it becomes impossible to shout out solutions, leading to an exponential explosion of problems. Decentralization? It sounds more like a 'paradox of decentralized trust.'

Beyond Stability, Capital Must 'Bear Fruit'

A virtuous currency must not only be stable but also capable of 'generating wealth.' It must support capital formation — that lending process that makes the economy's productivity scream. Unfortunately, existing cryptocurrencies are fundamentally 'misaligned with the talent tree' in this regard. To be a fully functional currency, you must be a reliable 'time accountant,' ensuring cross-temporal agreements remain stable.

The 'Secret Manual' for Virtuous Currency

To forge a true virtuous currency, you must be equipped with the following 'divine gear':

Adaptive Supply Mechanism: Like a smart faucet, it releases more water when demand surges and tightens when supply is ample, automatically adjusting to stabilize market pulse.

Last Resort Tactics: If the market panics, there must be an in-built 'fire brigade' ready to provide liquidity, stability, and intervention, without relying on external 'big brothers' to clean up the mess.

In summary? For decentralized systems to achieve 'stable outcomes,' they must first resolve their own 'trust disputes' and 'coordination nightmares.' Otherwise, the dream of virtuous currency may still stumble multiple times in the 'mortal realm'!