I don't see the cypherpunks doing that.
I do see them warning us not to use kyc exchanges like Strike, Coinbase, and Cashapp.
I fully trust the government to seize all bitcoin held at these exchanges within the next generation.
And I suspect they'll be raiding the homes and businesses of those who moved large sums to self custody.
Either way, Tether is a CBDC in all but name. And I can't trust anyone who helps the Tether agenda.
i disagree with some of what you said but fair enough, you can and should do whatever you want
Which parts do you agree with?
i think BTC is best held in self custody. i do not encourage anyone to use Strike or any regulated custodian to store their bitcoin over holding their own keys
I commend you for that.
But this Tether bank is not positive for bitcoin. The US needs to sell treasuries to keep printing dollars, and now that China and Russia ain't buying Tether is their best customer. Tether is dollarizing the 3rd world rather than orange pilling it.
i disagree. i believe people have the agency to make their own decisions. the 3rd world is dollarizing the 3rd world because they keep adopting dollars
they will get to bitcoin eventually, but they clearly aren’t ready yet.
put another way: if tether shut down and disappeared, the 3rd world wouldn’t adopt bitcoin, someone else would just build what they want: a stablecoin
I think the 3rd world is quite hungry for Bitcoin, as is evidenced here on nostr.
Anyway I'd rather have them build their own stablecoin, because then they wouldn't be required to buy US treasuries as reserves, as Tether is under the GENIUS act.
The third world is not hungry for Bitcoin in any particular way. It uses Bitcoin only when absolutely necessary or when greedy. It loves the US dollar. Almost no one uses Nostr there. Most of the action in Bitcoin is gonna continue in the developed world for the short to medium term. It is what it is.
Actual adoption of Bitcoin is happening in third world countries at a much faster rate.
They aren't speculating on Bitcoin like wallstreet, they're using it to buy groceries..
A lot of these people don't have bank accounts they've only ever used cash before Bitcoin.
I think this is a strange argument. You’re saying it’s ok to do something wrong because they’d be doing it wrong anyway. I would focus on Bitcoin adoption only.
💯
I somewhat agree, not that they aren't ready for Bitcoin though, from what I can tell third world countries have more adoption of Bitcoin. And anything that would stop someone using Bitcoin is going to stop them using tether(lack of electricity etc.)
But you're right the people using tether would mostly adopt a different pegged coins if tether disappeared .
It'd be cool to see some "stablecoins" not based on USD, probably not something you're worried about for now but there's crypto pegged to gold, silver, carbon credits, other currencies, etc.
The third world is simultaneously hungry for the upside of Bitcoin and the downside protection of stablecoins. Currently, with a preference for the downside protection, because being able to eat in a month when the price comes back up just isn't good enough.
Bitcoin collateralized lending hopefully can help bridge the gap a bit, but it can only do so much, as they need to avoid being liquidated amid volatile swings.
For as much as some of us are wishing to see another 2017 moonshot, perhaps the best thing for the third world would be to see the volatility around Bitcoin smooth out, such that the choice between having money tomorrow and eating today isn't one that they have to make.
They're trying to spread out the burden of inflation. It may just end up with more people realising that the dollar too, just like all the other fiat currencies, is not the bedrock they imagine
Yeah, nostr:nprofile1qqsvn0dkjt80raqrxd470c98n7zrdehmcvj6p5hgw3kyku6zyd8z0fqpz4mhxue69uhk2er9dchxummnw3ezumrpdejqzrthwden5te0dehhxtnvdakquw0j5p should add some different pegged coins, something pegged to gold or silver instead of USA currency.
Australian carbon credit tokens are very stable, something similar to that would be a much better stablecoin than coins pegged to USA currency.
Or course.
Strike is for spending and buying Bitcoin not for saving it.
Simple way I explain it to people, self custody is like a safe in your house full of silver coins.
Custodial is like a debit account at the bank.
You wouldn't save money in a bank account for the same reason you don't save money in a custodial wallet.
Not your keys = not your coins
That's kinda overkill kajoozie
Nah. What do you think they mean when they say theyre planning on increasing the "strategic reserves" but aren't planning on buying more, but also that theyre gonna keep all the ones they seize?
They'll start with a 6102 attack, but they won't end there.
