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>This, ultimately, is the American Dream: to get rich by doing nothing other than getting lucky and being able to say how smart you are. Not by creating any kin
by wing-_-nuts 4y ago
>This, ultimately, is the American Dream: to get rich by doing nothing other than getting lucky and being able to say how smart you are. Not by creating any kind of value.
Holy projection batman. I agree that much of crypto is rampant speculation, but pretty much all of the legitimate uses of crypto is done in stable coins. People don't have money sitting in tether because they wanted to get rich.
- cormacrelf 4y agoNot least because stablecoins were meant to be the place to park your money without being subject to the huge +/- swings or risks of almost any other asset. If people are suffering, it’s because they believed the operators of stablecoins when they said funds were in the safest place going. And now look at today: Tether says it is honouring all redemptions as usual — which, as usual, means only redemptions over $100K are honoured. The small fish can go cry, apparently, or try an exchange at the market price whose detachment from $1 is the whole reason for a run on Tether. Take the concept of FDIC insured bank deposits, turn it completely on its head, and that’s what this policy is.