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sigh What is Tether for again, and why is its market cap ridiculously high? What's wrong with actual USD? I would make a bet on Metaculus if I just understood
by ogogmad 4y ago
sigh What is Tether for again, and why is its market cap ridiculously high? What's wrong with actual USD?
I would make a bet on Metaculus if I just understood why people use this thing. Is it only for DeFi / Ethereum-type smart contracts now? Those interest-earning things that earn 20% a year? For porn stars who keep USDT and have to periodically redeem them for USD because banks refuse to do business with them?
- lupire 4y agoUSD is not on the blockchain. You can't use it for peer to peer trading. USD is regulated. You can't use it for instant free market reading at a broker. USDT, despite its potential unsoundness, is one of the rare cryptocurrencies that is actually a currency
- ogogmad 4y ago> USD is not on the blockchain. You can't use it for peer to peer trading. You can do a bank transfer. > USD is regulated. You can't use it for instant free market reading at a broker. I don't know what this means, or what this implies.