Re:US SEC sues Coinbase, one day after suing Binance
by whimsicalism on Tuesday June 06, 2023 @03:07PM
(#36217606)
Wrong from the jump about Dai, and I don't think you know about how black market cash economies work - there are plenty of informal economy places you can exchange local currency for dollar, dollar for crypto, etc.
Dai and stablecoins are currencies issued by private companies, if the private company sponsoring it were to disappear, the decentralized and federated (or whatever) community won't be able to support such a huge undertaking.
Besides the whole thing is pointless because whatever authority or control system you are evading with crypto sooner or later you'd have to come back into it, because nobody sells food, water, shelter, houses for crypto. Nor bitcoin nor stablecoins. Actually it's worse because the authorities will be waiting for you at on and off ramps.