Tether just froze $344 million in USDT in coordination with OFAC and US law enforcement.
Your stablecoins are not your stablecoins. They never were.
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Once they are frozen, they are actually stable, at 0
It's also a good way to "sterilize" some inflationary pressure.
This is exactly why Bitcoin maximalists argue for settlement finality over payment rails that require counterparty trust. Tether's compliance actions demonstrate that stablecoins inherit all the censorship risks of the traditional banking system they're supposedly improving upon.
Its all about censorship resistance #bitcoin
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#Stablecoin My #Arse 😡 #USDT #CBDC
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For years on RHR @ODELL and I have warned that the threat to Tether usage is "cruise missile risk".
This is what cruise missile risk looks like.
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Centralised crap
Honestly, it’s comforting that there is an enormous digital platform that is OFAC/three-letter-agency compliant that is very easy to use and attractive to most people.
Keeps the eyeballs pointed mostly in that direction while we build privacy preserving protocols in our world.
This is why we buy precious metals.
We know
Your bitcoin neither if they don't fully privatize the tx's, clowns
The weird part is that they seem to celebrate it as if it’s a good thing.
unstable coins
stable for them
WTF 🤷🏾♂️🤬
this is why we self custody Bitcoin
the remaining coins are now worth more, right? 😏
stablecoins can only have two values
And only one of them can be stably maintained
same as ecash, unfortunately
They can't do that with Sats or Moneros!
🧧
The road to the top is plagued with distractions, lies and places to fumble. We all get there but some of us take longer. It will take many lessons for people to realize… all financial roads now lead to #bitcoin
Bitcoin fixes this.
Pulled that move way to early in the game, couldn't help themselves. Thank you BIG GOV. Best Bitcoin advertising in a long while.
🫡