Algorithmic stablecoins are the way of the future, we need them in the future. This is unfortunate to have happened to so many people, but unfortunately it is a necessary evil. We can not advance the future of algorithmic stablecoins without finding out what can affect them, how they react upon the effect and how we can implement plans, protocol and backings to prevent it from happening again.
The dollar was once pegged to gold, it was essentially a receipt for gold but that left a majority of the economy limited in terms of growth, and just like it the dollar was once limited we will find limitations within the dollar again, I believe this time costing the economy to much to actually create. Printing money comes at a cost, and an algorithmic stablecoin negates those costs. The economy will no longer have to fork out money for, power to mint, paper, plastics and metals to be printed or pressed, inks and large machinery upkeep. We know that proof of stake if a more power efficient form than physical printing, saving the economy bags of money that can be spent elsewhere, plus using the government itself to hold the proof of stake injects further money back into our own economy.
Photo source:
https://www.investopedia.com/cryptocurrency-regulations-around-the-world-5202122
Crypto is not a scam, not a Ponzi. It is in its infancy in the grand scheme of things, it's a way of the future but needs refining. Unfortunately we need this negative events to help propel us forward.
