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The major draw of Tethers is to allow people to "hold" "dollars" while avoiding anti-money laundering and know-your-customer laws. If you wanted online dollar h
by ThrustVectoring 9y ago
The major draw of Tethers is to allow people to "hold" "dollars" while avoiding anti-money laundering and know-your-customer laws. If you wanted online dollar handling services that abide by these laws, you get a bank account and send wire transfers and ACH transfers.
- ajhurliman 9y agoThat's not true, it's very desirable to have something that spends like a crypto-currency (fast transaction time, low fees) but doesn't fluctuate wildly. Nobody's going to send a $1.00 ACH transfer to tip a web comic artist.
- ThrustVectoring 9y agoPeople can and do all the time, they usually just link Paypal to their bank account (or something similar) as an intermediary to avoid handing out their bank account number to strangers. And furthermore, how is the web comic artist going to pay their rent? Landlords don't take tethers, so at some point they need to cash out to actual dollars and receive an ACH transfer from an exchange or the like. Are they really better off being forced to trust a crypto exchange?