I’m going to keep this short but I just fell down the rabbithole of crypto again and maybe it isn’t as bad as I thought. Many of their ideas are very similar to the fediverse’s. The idea of decentralized finance using a stablecoin sounds awesome to me. (though i’d much prefer to live in a world where money isn’t needed) Maybe the technology is actually good but the techbros and scammers ruin it with their false promises and complicated words. Hopefully, in a few years after the rest of those scammers have moved on to scamming with AI this tech could be truly used for meaningful purposes.
I think most stablecoins are a bad idea as they require a trusted third party such as paxos, circle, binance, etc that can be pressured to freeze your funds by governmyths. I personally use monero to make transactions
Some don’t.
Those that don’t feel like Rube Goldberg machines to me. Terra Luna comes to mind. It’s all fine and dandy until something goes wrong - and once something goes wrong it goes terribly wrong. Just one bad day from collapse.