It's funny how you try to separate monetary/fiscal/economic policy in relation to the current scenario when it comes to the status quo, but you do not apply the same logic when it comes to crypto. For you, what the Fed does is completely separate from the interests of the financial elites, but what one disgraceful actor in the crypto system is enough to make everyone stupid?

> Only you voting will change that.

First, I don't vote in the US. Second, are you seriously this naive or did you mean this as a joke?

> And the ones that aren't don't solve anything better than a classical solution because trust is a huge optimization.

Ah! And here I see the issue you are having.

No serious person working in crypto ignores the fact that trust helps. The point is that trust should be granular, not a binary property. Every project working on layer-2 networks is basically dealing with the issue of trust vs performance.

Also, another issue is that too much of an optimization makes a system fragile to systemic shocks. It doesn't matter if it is the US, Canada, the EU or a Banana Republic: the response from every government in every crisis has always been to concentrate more power and to ask more of people. Ever bigger houses of cards are built and when they inevitably get blown over, the solution is to get more "optimizations" and to have more bureaucrats with no skin in the game responsible in defining "policies" for people they have nothing in common with, know nothing of their actual problems and have zero incentive to actually care - in fact, if they cared they might end up losing their election or dead by going against the interests of the bigger fish.

When you say that "10M going to Pakistan would also happen in Bitcoin" is missing the point. Money laundering/fraud/tax evasion/mismanagement of public funds will always exist, no matter what. The problem is that a Big central Government is not only be terrible at fighting it, the bigger it gets the more they create it themselves.

You keep telling me to "take a econ course", as you think that my issue is not understanding the logic defended by economists. Far from it. Simply put, I want Homo Economicus logic to go extinct. Too many basic failed moral and ethical principles are built on "logic" backed by economists. Too many "optimizations" proposed by economists made our societies worse. Too much power was taken away from the people and put in the hands of "experts" - which seem a good thing "on average" but in reality made us more unequal, more polarized and less connected.

When people get inevitably screwed over by Tether, there will be a bubble burst and lots of fools (not for lack of warning) will lose their money. Crypto will go on. It's their money they lost, the system as a whole survives and actually becomes stronger. Can you say the same about Government? Do people trust the government more or less after each crisis?

I said in our last exchange as well: I am not the only one that works on crypto without caring about price. Making money is just a nice side-effect. The main motivation (to me at least[0]) is to build the tools that can let people be in charge of their actions including who/when to trust and delegate things . [1]

[0]: https://hub20.io/architecture/#economies-of-scale-vs-robustness-of-decentralization
[1]: https://trustlines.network