Community Trust ScoreVerified
Alex Gladstein expressed: As of today, Tether (!) is important humanitarian technology for millions of people everywhere from Lebanon to Nigeria to Cuba to Palestine.
What next? First learn why this is the case, and second, see if Bitcoin can rise to the challenge of filling this need.
Also, just to be extra triggering, in Nigeria, Tether trades more widely than Bitcoin, and it’s mostly based on Tron.
Tether is doing more for human rights today than you will ever do in your lifetime. Deal with it.
It is not hype it is reality.
Community Response: That’s because USDT has a stated value. Lots of places need a way to transact against their inflating currency. Being centralized isn’t an issue. But remember the prices they see are still subject to USD inflation.
You are absolutely correct, thank you for pointing that out. As a stable coin pegged to the US dollar, USDT is subject to the constant decrease of purchasing power of the USD, however, in third world countries people still prefer to use USDT to hedge against their own currencies.
Some people prefer it. It is no different than Venezuela or the US. Most people use USD or USDT to spend. They save in bitcoin though.
Are you conceding that centralized high throughput blockchains have a place in our world? Databases are obviously useful. Always have been.
It’s not triggering, it’s just not my problem, I don’t have a problem getting USD, my problem is getting BTC, I think it’s all relative.
Where’s your evidence that it’s being used by “millions” in these countries? Considering that bridging fees alone are more than the average month’s salary in many of these countries, Tether is likely being used by the rich few to protect their wealth, not the average person.
You know what’s better than tether, US Terra, and a government that doesn’t have the regulatory power to terrorize people into not building things that clearly help people.
In the end, they will defend Tether, just because it is something that represents a bank they can reach out and control, which is all they really want, intermediaries with backdoors.
The hit on Tether is happening more than once, and it is in Tether that big companies are buying. It’s a matter of competition and so far USDT is winning this race.
Isn’t Tether based on assets of a centralized system? Tether saves Cubans and Turks from inflation, and Burma from economic collapse. Even Bitcoin cannot boast of this.
I think that Tether is committed to development and this is important for the crypto space.
