OP here. Note to everyone visiting our forum via the link… you are free to make an account and comment there, if you wish. The forum is about “Web4” — moving be

OP here. Note to everyone visiting our forum via the link… you are free to make an account and comment there, if you wish. The forum is about “Web4” — moving beyond Web3 ponzi schemes with an emphasis on social impact and utility of crypto. I have since added a comment there, emphasizing the broader danger for crypto: If Tether drops this could undermine the thesis that Bitcoin and other similar cryptos are good stores of value, because currently their value comes 1% from their utility and 99% from the collective belief (HODL etc.) which is circular and self-reinforcing, similar to various religions etc. The “full faith and credit of the United States” or the exchangeability of banknotes for gold isn’t the main factor that has been backing the money we use. Real-world currencies that enjoy mainstream adoption in a given area are actually backed by goods and services they can be exchanged for readily in a certain area. Not so for cryptos (excluding services of remote workers such as software developers, which does represent a serious economy). Here is what we would need to do in order to move the crypto space towards web4 and finally gain mainstream adoption of crypto in the real world: https://intercoin.org/proposal.pdf https://intercoin.org/proposal.pdf