Pure human stupidity, using a shitcoin that can be confiscated remotely 😂
Discussion
Is tether is a shitcoin so is liquid….
Liquid is an algorithmic bank that allows shitcoins.
By the way, tether cannot be confiscated on Liquid.
Hmm interesting so tether can only be frozen on which chains? Since it’s run by a federation couldn’t it be confiscated?
Because on other chains, tether is issued with a smart contract in which tether is the administrator and can block funds.
In contrast, on Liquid, it is not a smart contract, but rather another UTXO.
To block them on Liquid, the members of the federation would have to agree, and that is unlikely because not even Blockstream controls the federation; it is the members of the federation themselves who decide on new members, for example.
Blockstream only offers implementation and maintenance services because they use specific hardware.
liquid only has few BTC - GATEWAY is kyc
nobody care about few sats or few BTC - bulk when moves matters
PEG is controlled 20+ industry multi sig before btc > into Adam's private chain so yes FEW small not matters
But still, the OTC/p2p/Hawala uses it. And it's so fucking sad...
It's only stupidity if you use it and don't realize it can be frozen.
You can be well-informed and decide that for your use case and at this point in time, the risk is negligible, and choose to engage with the system.
Nah, the stupid part is what happens when the U.S. government figures out that they can insure that tether never sells treasuries by finding excuses to freeze accounts. That's when that chart turns vertical.
Can anyone access this information? Where is it?
Well, as far as I found out, it seems it can be collected piece by piece:
And more spread information:
any token on most EM chains can be FREEZED - any bitcoin address - can be blacklisted esp one having HUGE balance
bitcoin blacklisting not freezing in node core - also happened