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I haven't figured out exactly how it's used or who's buying it.

Is the concern that it could allow the US to do one last rugpull of the whole world of individual citizens buying US treasuries by defaulting?

Tether would keep its Bitcoin and the Tether owners would be left with nothing?

If this is the case, it is a risk taken by individuals that they trust the US more than Bitcoin.

They are allowed to make that risk assessment even through it is against their best interests IMO.

We just have to keep the US honest and paying its debts.

It's a huge market of people who make that assessment (against bitcoiners). In my Grinch-heart, I say they are betting against me, and I will take their future applications to work in Mi Empresa.

gojiberra 11mo ago

To soften the grinchiness, if the information could be taught in school so people could make a choice between the two.

Prob most people are just picking USD because it's all they know(not betting against bitcoiners)...

So I see why they are trying to teach this in school. The faster they can teach it, the more likely some people will choose Bitcoin and that benefits the person,family,country.

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Discussion

gojiberra 11mo ago

Another idea is

Once banks are allowed to custody Bitcoin, they will offer high interest savings accounts higher than the 4.5% based on the federal interest rate.

As soon as the first bank offers this new "Bitcoin powered savings dividend" then all banks will quickly all have to offer it.

So even people who only trust in dollars will be saving into Bitcoin interest products.

Or we could just hyper-bitcoinize by next year and everything would just be Bitcoin with no yield.

However, what's the likelihood of this happening. Might as well offer products that people want.