5 ms·

i wouldnt trust a benevolent (offshore) dictator with my money but if it suits your needs, go ahead

• dannyw 5y ago
  It's all about your risk profile. For someone looking to move capital out of China, Tether is safer than the Chinese Yuan in a bank account. For people dealing with all the anonymously operated, no-KYC exchanges, Tether in your address is far safer than whatever balances you have on those exchanges. The 'dark' economy is huge, and a lot of capital live in fear of seizure. It shouldn't be a surprise how big Tether's market cap is. It's basically "USD-ramp-as-a-service", with the only fee being Tether doesn't pay interest, so obviously the operators get whatever interest there is on the float. And this service is VERY valuable, whether you are launching an exchange in a jurisdiction that prevents exchanges (e.g. China), or want to bring about traditionally regulated financial instruments (e.g. derivative swaps) into a relatively unregulated field.