Google:
"tether lock wallets"
It is uncertain whether they will be able to lock Bitcoin Tether Wallets, that is the subject of discussion on this thread.
Here are some results:
https://www.theblock.co/post/266894/tethers-new-sanctions-froze-161-wallets-only-eleven-hold-usdt
I’ll have to read later but if it’s on bitcoin network not sure how it would be possible or different then locking any bitcoin tx.
Huh?
You can't lock a Bitcoin TX, that's kind of the entire point of Bitcoin - it's uncensorable, but you can lock a Tether wallet on blockchains like Ethereum.
The question is can you lock a Tether wallet on the unlockable Bitcoin network.
EXACTLY
you can’t. So if tether is onchain then you also can’t lock tether on chain.
That's an assumption.
I don't know if that's true yet.
If you can then taproot and on chain assets are worthless. I guess we shall see.
I don't understand your statement.
You're trying to force an assumption.
This is not good practise.
No I’m just trying to think it through in a discussion these are my thoughts on the subject. I’m not trying to be right I’m just trying to understand the implications. Hence we shall see.
So here are some unknowns.
Tether control the coins, while you cannot stop the UTXO, Tether Inc. can remove the coin inscribed on the ordinal out of circulation.
So you can move a coin that no longer exists around as much as you want, but all Bitcoin Tether wallets would show it has zero value.
Option 2
If Tether control the keys for the UTXO with the original tether inscription, they simply send it back to themselves removing the USDT from circulation.
These are some thoughts I'm having as to possible options for Tether Inc. to maintain censorship of their coins, but I don't know if any of these hypothesis are true.
I don't think it's possible even on eth.
unless you lock yourself on some centralized smar contract.
but that's probably the caee.
you trust the contract. that's your risk
Tether Inc. lock USDT all the time as is shown above or by doing any Google search.
I don't think those things are fungible on liquid and erc20
You trust liquid federation to peg the value to usd-t. not tether.
anyways it's too much shitcoinery for me. I use it solely for swaps. IDC
You appear to be making random untrue statements that bear no resemblance to the discussion.
NFT's (JPEGs) are not fungible (Non Fungible Tokens),
ALL OTHER CRYPTO CURRENCIES ARE FUNGIBLE.
what? are u AI?
I said that tether on liquid is pegged to usd. not erc20 tokens
Direct quote from you and the point I was answering:
“I don't think those things are fungible on liquid and erc20”
we might be talking about different things. I don't think taht liquid tether is censorable. When you peg out you migjt be
if it make sense...
Correct, it is not censorable because the transactions are encrypted and therefore obfuscated.
If they were not encrypted Tether Inc would be able to identify which wallet addresses contained their coins and may then be able to lock those wallets.
Censorable is too generic a word, we need to define the meaning.
By lock we mean that the funds are no longer movable.
In the case of ERC20 tokens this could mean burning the token or simply putting a script (contract) on top of the ledger entry that makes it null and void (like a master key).
For the new Bitcoin Tether tokens, these mechanisms may or may not be available. I suspect Tether would not give up the ability to censor (lock or burn) their own coins.
But as we know Bitcoin UTXOs are uncensorable, so I would guess that the ordinal would still be able to be spent, but that perhaps the USDT would no longer be inscribed on it, or that the USDT token would not move to the new key.
These are my early guesses, but they are all speculations I would prefer not to make.
Instead, I would prefer to accept that at this stage we do not know.
Knowing that we do not know means that we don't have to make assumptions and that we can research and find out.
This, for me at least, is a better method of understanding.
Well said. but I prefer not to touch it 🤪
