Our valued sponsor
Tether: Why We're Discontinuing EUR₮ and What’s Next
- Thread starter rss
- Start date
I see this similar. clownbase is very entrenched and the good boy of the industry in the us.
Plus the usa is on a path to pull in everyone into the usd.
I don't have as much hedonistic cravings as in my 20s though, and stuff doesn't make me happier than I am.
I'd prefer income creating assets instead of liabilities, but even they come with a caveat - they take up my time. Money means just freedom to spend my time as I choose to, instead of selling that limited and most valuable resource for money. All I really want is to be able to do what I want with my time until I perish.
I guess that 8% loss is the price I'll have to pay. And who knows, I might be able to acquire some bargains during the next recession.
I just read more about XSGD, being the first stable coin complying with the travel rule......thanks, but no thanks.
Seems like CBDC is disguise.
USDC it is then. Same same but different, at least for now.
To spend money doesn’t necessarily mean buying stuff.
well yeah after all it comes out of singapore which is the new wef / oecd darling. So hard pass for me there.
well yeah.. gotta swallow that lemon. But you could buy some gold and make peter schiff happy, its much less volatile. (I sometimes do that).
Another luna disaster bond to happen in the future
It can be depeged easily
Others can be frozen easily .. There is no perfect stable solution
Maybe the relevant question is: How many years accounting inflation, debasement and a high security margin can someone last before spending it all?
I see no point dying with more than necessary among all personal accounts/wallets.
Inflation is a symptom of debasement. 8% is a conservative estimate.
With fiat (or stablecoins) you have zero security: every day you can wake up and the illusion has vanished.
As a matter of fact, you can’t be free and secure, you must choose. If you prefer security, go to prison or work for the state mafia.
The point is to accumulate so much debt that your creditors become deeply invested in your long and prosperous life
In a battle of USDT versus BTC I would take BTC every time. I don't trust Tether at all.
The day may come when US government makes a move on Tether and asks them to freeze all USDT addresses [not just a couple] or stop all Tether redemption's. Every holder with a claim will be asked to come forward with KYC, tax compliance and source of funds info etc. You can imagine in such a situation a large portion of USDT will go unclaimed
.
The day may come when US government makes a move on Tether and asks them to freeze all USDT addresses [not just a couple] or stop all Tether redemption's. Every holder with a claim will be asked to come forward with KYC, tax compliance and source of funds info etc. You can imagine in such a situation a large portion of USDT will go unclaimed
.
StraitsX (the issuer of XSGD) are arseholes to deal with. Random account closures, frozen funds for weeks without explanation.
Thanks but no thanks.
And this is Singapore, which is basically an island of "compliance heroes". Was quite happy to leave the little red dot.
Yeah, thats the correct way to state this.
that is very possible and i see that as the likely outcome. But i dont think this move is imminent.The day may come when US government makes a move on Tether and asks them to freeze all USDT addresses [not just a couple] or stop all Tether redemption's. Every holder with a claim will be asked to come forward with KYC, tax compliance and source of funds info etc. You can imagine in such a situation a large portion of USDT will go unclaimed
Like with banking, US will try to pull in all funds it can (burden everyone else with the kyc nonsense but exempt itself).
Unlike UST, DAI is not backed by a random token (LUNA) created by the stablecoin issuer, but is rather backed by a liquid decentralized asset (ETH). How would that be similar to LUNA?
i know they also partially stuff DAI with USDC at the backend though, but DAI unlike USDC does not have a freeze function.
well it may or may not happen. Sometimes stuff like this works out but for most it doesnt.
nah, with hayes aka the bitmex razor shilling it, id be careful.
My first reaction was exactly the same, I was also sure it would collapse just like UST/Luna, but when you dig more into it, it does look relatively """safe""".
https://mirror.xyz/0xF99d0E4E3435cc...1/cUa8Y-LHi6eZYa08xOib5kl0af4ifez9F6b5UFbPOdQ
The product is a short / long eth position while pocketing the yield. A synthetic stable dollar purely based on crypto without the need for real world assets.
bitmex razor provides some good insight and knows the game clearly but that is not a given for the product to be good for endusers in case a new ferrari or more bubbly water is needed.
The q is what will happen when the funding goes negative over a long period. Someone has to pay this. Maybe it will be implementing negative yield and you cannot withdraw for a long time (if i recall correctly, the contract allows to change the withdraw window, so you can get shafted with negative rates for a while).
Also with the current admin, it looks more likely to stash inflation into the stablecoin market (bitcoin dollar) than having such a synthetic product which does not create demand at all for such debt instruments. So usdt/c is preferred, at least for the time being.
yeah it looks pretty good and you need to dig deep into it. We had a indepth look into it some time ago, before coming to the conclusion to pass on it.
Latest Threads
-
-
Offshore company (in or out of EU) with EU residency only
- Started by Delta
- Replies: 3
-
Tax optimization and lifestyle in 2025 for 8 figures wealth.
- Started by toums
- Replies: 0
-
-
AML Compliance - Pass once then all clear OR have to pass each time I move the same money?
- Started by fluffypanda
- Replies: 4
