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It's being manipulated by private entities, so, I'm not really sure it's an improvement.
by EdwardDiego 4y ago
It's being manipulated by private entities, so, I'm not really sure it's an improvement.
- fsflover 4y agoJust like the government itself?
- EdwardDiego 4y agoGovernments are far more answerable to average citizens than the people behind Tether or the whales currently, even if government isn't ideally accountable. Also, governments have reasonable incentives to keep currencies at levels that maintain economic conditions. Being voted out or overthrown are consequences of economic mismanagement. I've yet to see that from Tether.
- smokey_circles 4y ago> I've yet to see that from Tether The wheels of bureaucracy turn slowly, it's no different with any other financial scandal.
- EdwardDiego 4y agoTrue, but the fact that government regulation is needed kinda voids the argument that crypto currencies are great because they can't be manipulated by the government like a fiat currency.
- stjohnswarts 4y agoThis is only true in democracies. In autocracies like Russia and China they just do whatever the government tells them.
- EdwardDiego 4y agoThe CCP is oppressively authoritarian because it's scared of its own citizens, especially its young NEET men.