SafeDollar ‘stablecoin’ drops to $0 following DeFi exploit on Polygon

Here's a survey[0] that says the following: > In addition to users in Africa and Southeast Asia, one more world region where many cryptocurrency users are located is Latin America. Peru leads adoption with 16 percent of respondents, while Brazil, Colombia, Argentina, Mexico and Chile all reached double digits.

If you follow local news, you see reports every day saying how growth is constant and spiking, this[1] Chilean headline reads "people who deal Bitcoin grow over 100% in a year" just to give a quick example. I suggest googling news for " criptomonedas" and you'll see most of them will have news of the sort from the past year at the most reflecting on just how many people are getting into it. Google trends for "crypto" for every country in South America have also spiked recently.

I also have anecdata, which is worthless of course but it's there. Nearly everyone I've spoken with who saves here either already has some crypto or is learning about it in order to get started.

[0] https://www.statista.com/chart/18345/crypto-currency-adoptio... [1] https://www.df.cl/noticias/mercados/bolsa-monedas/se-dispara...

The systems can be trustless and upgradable.

As we get proven/tested/formally verified code that implements governance protocols we can use that code to build system of allowing upgrades while allowing those who disagree to exit the system.

For example, one of the ZKRollup chains has a mechanism for upgrading that requires a small number of approvers for the “break glass” scenario. When an upgrade is approved, anyone can exit the network before the upgrade takes affect and move to a system with rules they support.

Governance models will evolve as we figure out what works and what doesn’t. Some people may be ok with a super majority being able to revert the state of a contract in response to a bug while others will want immutability at all costs.

Blockchain/cryptocurrency is about each participant deciding how much trust they are ok with, and having an open ecosystem where assets can be moved to systems that people want to use.

I know what you mean. I suppressed that reasoning in my other comments as it tends to make things worse, but I might as well spit it out: it's US culture.

The US has always had a binary culture: winner/loser. Democrats vs Republicans. Success or failure. No room for nuance or a gray zone.

Nothing new, but now brought to truly explosive levels of polarization. We all know why.

This mentality has now made its way into everything. As an example, a lot of people, in this example non-tech people, instinctively reject crypto purely based on the narrative presented to them by the media they follow (which fits their world view) and their Twitter friends.

These people haven't spent a minute even trying to understand what it is, yet blindly follow an ever-narrowing behavioral group consensus.

Don't get me wrong, you may very well come to the conclusion that crypto is garbage, but wouldn't you first want to learn about it before you flat out reject it?

Another example is web development, in particular the community on Twitter. It's basically a radical feminist community now. Recently, a high profile account blasted the life's work of some guy. The guy responds that this pile-on ruined his day. The response: an army of angry women complaining about his "white tech bro" behavior. He was close to losing its job (and reputation) for pointing out that he did not appreciate the out-of-the-blue mass pile-on.

Does any of this sound reasonable, healthy, constructive?

Dismissing vastly complex topics without knowing a thing about it? Basing good or bad on group think, and rejecting everything else? Basing who is right or wrong based on ethnicity, gender, the like?

How very limiting life must be to look at the world through this lens. It has like 90% of pixels blacked out.

That's what I mean with the lack of self awareness. US people don't even see this anymore. It's normalized. When you point out they have a closed mind and binary world view, they make effort to show they're on the right side of that binary, failing to see the irony.

> It's a rich, beautiful corner of a rapidly growing space.

I can't imagine what kind of mindset/value-system one has to have to find this stuff rich and beautiful. It's ponzis all the way down. I would call it disingenuous and grubby.

One way of reading this coontent is that most don't think there's a problem