I prefer to think of it as "depreciating fiat currency worth less every year", but sure. FDIC insurance is 250k per account, in the US. Only 323M/7.6B can take

I prefer to think of it as "depreciating fiat currency worth less every year", but sure. FDIC insurance is 250k per account, in the US. Only 323M/7.6B can take advantage of this. Don't forget the USDT liquidity in the defi markets, which is a growing area too: https://defimarketcap.io/protocol/uniswap-v2 https://defimarketcap.io/protocol/uniswap-v2 I think my point is that at this point even the solvency of tether corp is actually irrelevant to the value of their USDT. People believing in it seem to work well enough. Until people no longer believe in it, it will seem to exist. Bitfinex haircut is yet another reason why you don't store money in exchanges. Please stop assuming that people don't want to custody their own funds -- I have spent a great deal of time in the recent months and years convincing folks to install wallets and take custody their funds. Most find it easy and painless. There is a light bulb moment when people realize they are in control of their funds, and nobody can take this away from them. Exchanges are like internet banking, boring in 2021. Money over the internet, however, is really cool. Always stress the importance of backing up the seed phrase, and folk's wont lose access to funds. People like it! Its like a magical incantation to recovery coin anywhere in the universe. Negative interest rates are coming for your dollars. The bank is not your friend.