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19 sats \ 14 replies \ @freetx 31 Jan \ parent \ on: The fuse was lit. USDT IN BITCOIN bitcoin
What you wrote is true, but its missing the current political context:
The US Dept Commerce / Treasury wants stablecoin use to explode.
Lutnick, who was Trumps initial choice at Treasury (who wound up at Commerce), is the ex CEO at Cantor Fitzgerald. They are the group that manages Tethers treasury. So he understands very well the power of (a) stablecoin adoption outside US borders, and (b) how to create a collateral base for stablecoins using US Treasuries + Bitcoin. He understands this because he has managed their book and help devise the strategy.
Their vision is simply "If every person on the planet can have USD stablecoins on their phone, why would BRICS be a threat?" Its a great question.
Its 100% in USA best interest to promote this view, as it permits them total financial dominance that makes Bretton Woods 2.0 look quite conservative in comparison.
Its by no accident that Tether is now pushing an integration directly with Bitcoin as this is the exact vision of current US Gov.
USDt is very popular in Latin America, more popular than btc
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Which is absolutely insane to me. Why would people of a foreign country want to use the currency of a different nation?.... ESPECIALLY when they know the other nation can and will print more of the currency to enrich themselves at the expense of the foreigners using said currency.
Latin America is ensuring they always remain subservient to the politics of the US. They're literally choosing slavery. It baffles me. They should love Bitcoin.
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On May 19, 2023 @DarthCoin writes about Taproot Assets, on May 31, 2023 @siggy47 also writes about it asking if it was good or bad. In one of the comments DarthCoin mentions the following:
"Taro, also known as TapAss, is designed to be used by corporations, businesses, financial institutions, rentals, or any other financial entity that needs/wants to issue digital assets and trade them or use them for their financial instruments.
Here we can say: a corporation like Microstrategy that wants to issue bonds or stocks and trade them in a decentralized way or move them between owners, without resorting to legacy financial systems.
tapass is not for the plebs to go buy a coffee! It will either fix the liquidity of their shitty node or speed up the opening of their on-chain channels, etc... Stop thinking about that!
TapAss DOES NOT SOLVE ANYTHING that can be broken. It just creates new friction."
Then he puts the following meme
He said it more than a year ago. He's not a prophet but...
Chapó @DarthCoin
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Thanks for the reminder.
Yes indeed I am not a prophet, I just pay attention to all aspects and think with a clear head, don't fall for all "new thing" posted by influencers on twatter.
Also read a lot of documentation to see how things works. You don't have to be a super coder to read technical documenration, just pay attention to explanatiins in the abstract sections.
But unfortunately the greed of some peoole will fuck up bitcoin.
Many are jumping around to say that this tether over LN bullshit will bring more adoption of bitcoin. WRONG. This will push more clueless nocoiners into tether.
And tether = fiat = just one step away from CDDC.
People forget why we are here, in Bitcounlandia... To destroy fiat, not to make it stronger and used.
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you are baffled because you are willfully ignorant
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Yep, my company has customers there and also Africa. Its popular both places.
90% of those don't make enough money to consider savings, they are living on $300 per month - and its $300 in / $300 out, theres no luxury to consider investing in BTC to gain "58% 5 year CAGR".
They are solely after a transactional currency that offers relatively low month-to-month inflation. They are dealing with local currencies can inflate 10% per month. That sort of month-to-month inflation can be ruinous if you are living payday to payday.
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Too many bitcoiners and libertarians live in a bubble of relative wealth and privilege
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25% * 0 = 0
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Lol You can hold a belief even if you don't get the benefit of it, I don't own USD, I earn South African rands! lets not do the broad sweeping statements
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Ahora, en el mismo lugar donde se anunció Lightning+USDT.
Now in the same place where Lightning+USDT was announced
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For sure, Makes sense to push global demand of tether on the front end to backstop bond issuance on the back end!
But what's the end game? I still feel like it's a niche product for certain people who remit, trade across boarders or have poor local financial services. In South Africa for example, you can have USDT but you need a liquidity provider like an exchange to get goods and services, which is ultimately what people want.
As for a macros side lets say a nation goes onto a USDT standard, it now has no wiggle room to devalue their currency to remain competitive or ease their debt burden?
I do think there's merit to the dollar milkshake theory I just don't think its the only force at play
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