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> It's almost like there's something backing USDT as well even though it's all nonsense. Yes. Speculation and their ~~criminal conspirators~~ exchanges. > Ano
by jfrunyon 5y ago
> It's almost like there's something backing USDT as well even though it's all nonsense.
Yes. Speculation and their ~~criminal conspirators~~ exchanges.
> Another truth is governments force their citizens to use their own currencies.
Absolutely. Not a single person in this thread has argued otherwise. What's your point? How does that somehow make something else more stable? If the government is the big bad wolf, what's stopping it from using that same force to blow USDT's house down? What army and treasury is going to rescue USDT when it crashes? (And it will crash, eventually, just like every other market in history has, whether its due to Tether's negligence or external pressures)
- matheusmoreira 5y ago> Yes. Speculation and their ~~criminal conspirators~~ exchanges. Not that different from traditional banks and other elements of the financial sector. > What's your point? My point is there is no fundamental difference between cryptocurrencies and legal tender. > What army and treasury is going to rescue USDT when it crashes? When the traditional finance people screw up, the US government bails them out with taxpayer money. It should totally do the same for Tether.
- jfrunyon 5y agoSure, so long as you assume that the US government would bail out USDT (which is an insane assumption), it's not that different.