It doesn't look like a "stable coin" to me... Some #Bitcoin "maxis" tend to turn a blind eye to this shitcoin... Yes, shitcoin... Tether is a shitcoin by definition.
Discussion
I call tether a dollar-pegged-coin and treat them fake-maxis or shitcoiners.
100%
Ruined
Yeah, but this is Binance US not being arbitraged. Tether didn't depeg
People give tether a pass because Bitfinex does a lot to support Bitcoin development
We must not excuse whoever, whatever harm Bitcoin. Even if they are Blockstream, Max keiser, Samson Mow, Adam Back or Satoshi Nakamoto.
Tether can't harm Bitcoin
If tether goes away, you'll have some other stablecoin
Amigo, sorry to tell you... But you're no #Bitcoin Maxi.
Are you the self-anointed maxi gatekeeper?
Why do you take so much pride in a term a shitcoin scammer came up with?
I am just a pleb, who orange pilled a president, who made BTC legal tender. You can do whatever you want, yet, by definition USDT is still a shitcoin.
You think Bitcoin requires presidential approval?
You're just LARPing, oblivious to the nuances of life in the real world. USDT may be a shitcoin, it's a promissory note of a shitcoin but there is demand for access to that shitcoin, just as there's demand for Bitcoin for many different reasons.
Read my posts, I've said plenty of time that:
#Bitcoin doesn't need kings, or presidents, nor self appointed fairy godfathers or self appointed fairy godmothers...
#Bitcoin needs:
Builders
Makers
Doers
Back to the basics. What's the problem of the dollar and how Bitcoin fixes it.
USD is slavery. USDt is also slavery.
Tether claims to help people in countries that lack financial infrastructure, but that's exactly what Bitcoin will do. Tether makes people blind and clouding the essence. Tether is one of Bitcoin's biggest enemies.
I'm not talking about pegging.
Multi-currency makes friction.
We don't need any fiat-pegged-coin. We don't need any altcoin. If so, we should make it not.
You don't but stable fiat value balance without a bank account is useful to people who are not ready to stomach short term volatility
It’s a necessary evil up to this point though, there is no other easy way to get the masses into bitcoin. You either have tether or some blackrock backed USD exchange chokepoint.
That being said I think nostr will be a great way to onboard people to bitcoin without them having to kyc and trade dollars for bitcoin but we’re still a couple of orders of magnitude too small here for that to have any real impact yet.