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249 sats \ 3 replies \ @justin_shocknet OP 20 Mar \ parent \ on: Tether the 7th largest buyer of U.S. Treasuries when compared to Countries econ
I was one of them, the whole mixture of dollars and tokens made no sense for the consumer, it could only be an affinity scam or regulatory arbitrage for the issuer.
They infused garbage like Liquid and other shitcoin'y things which by all measure seemed hostile.
As an offshore company steering extremely clear of the US and dealing in dollars, it was not intuitive how they could be helping US natsec and Bitcoiners at the same time.
A few people I trust that are close to them corrected me when I wrote them off as shitcoiners, its been awhile since and only recently is the big picture is coming into view... and its fucking incredible to see.
They are the envy of banks. I think tether did the best they could with all the hostility that came with the legacy system. But now they are seeing the benefit.
Tether is still a trusted third party that can turn off your money at any time but it’s no different than the system we have now.
Americans are so cucked we don’t even understand how ridiculous it is the bank fills out a SAR when someone withdraws $10k from a bank account. You can’t even buy a new car with $10k! Just down right silly!
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it’s no different than the system we have now
Arguably for much of the "global south" / 3rd world or whatever, its significantly better, and if you can get those people access to dollars in spite of their local governments, you've by proxy given them access to Bitcoin in spite of their local governments.
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Exactly!! Hopefully withdrawal to self custody and build a savings. Yet I’m supposed to hate tether? Not happening.
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