Is he a bad actor? I don’t know him, just thought the video was cool.
I’m trying to understand why Dorsey is promoting this idea.
Discussion
Not at all, it’s just an argument that’s been going on for years. If it were somehow adopted in Unicode, maybe, but people are using a Chinese character as a substitution, and I just think that’s kind of ridiculous.
I’m on team ⚡️ or no symbol at all.
I'll wager the no symbol at all crowd are going to start getting a little antsy once the ₮ symbol for USDT starts popping up everywhere in stores and restaurants.
That symbol is a joke. Are people supposed to memorize new symbols for every single dollar stablecoin that gets created from here on out?
The state of Wyoming is making it its own stablecoin. Are they going to use a W with some slashes through it? We already have a symbol for the dollar. USDT is a payment rail, not a standalone currency. Am I missing something?
Just USDT of course. You have to be in that class to get your symbol on POS terminals and chat app scanners and the like. Wyoming, sorry.
This is all happening much more in Asia than in the US by the way, since Asia is where by far the most USDT use occurs. Example USDT is now baked in to LINE, they are heavily promoting the ₮ symbol there and it seems to be getting the organic traction they want, POS terminals joining in and such. Basically people are taking to it, it's a real thing.
Also in Asia a lot of people don't have USD. All they have is USDT. So it's important to clarify if the transaction is set to go through in USD or USDT. If it's mistakenly set at USD and it does go through (via bank/visa/etc) then it'll take all those forex fees, don't want that.
The tether symbol is helpful there, both pre-transaction to double check and post-transaction to confirm.
⚡️