101–110 of 271 posts
I wonder what would happen if this proved to be scam. Would that kill the whole crypto market?
Tether is a huge component of the daily traded float in BTC. If tether was no longer accepted at $1, there's a lot less money chasing BTC.
These markets wil be around forever, but much less attractive when people start to see past the Hype.
Earlier quoted context omitted.
I'm in favour of UBI, but note that it'd require extremely strict immigration policy as well as good enforcement of it, which is generally something the left very much dislikes. As already seen with covid aid, people wouldn't work in low wage jobs any more. This would lead to inflation or disappearance of some amenities. E.g. you might have to put your groceries into your bag yourself, or might have to pay a dollar e…
> I'm in favour of UBI, but note that it'd require extremely strict immigration policy as well as good enforcement of it What do you mean by “strict” and why is this inaginee5 to be necessary? Note that UBI is usually envisioned with a defined population but the absence of means or behavior testing within that population, either “citizens” or “citizens and LPRs” or “citizens and aliens with work authorization” or “ci…
Plus I'd say it would be even more unfair for the undocumented immigrants than it is now because they would not get any UBI. But if you gave UBI to the undocumented, way more people would attempt to become undocumented immigrants, by overstaying their visas, etc. Which then probably will lead to you having to issue less short term visas, or actually deporting undocumented immigrants.
Earlier quoted context omitted.
A UBI doesn’t necessarily result in inflation. The later is a combination of monetary policy and expectations. UBIs can be paid by means other than printing money.
Yes, providing money without any attached good or service or unit of value definitely won’t cause inflation/s WHAT?
Even if (printing and then) giving everybody $40K/yr caused, say, 40% inflation, anybody making under $100K/year would be better off. You actually wouldn’t need any taxes if the government just printed all money it needed, hopefully most of which is in the form of direct checks to all residents/citizens.
(side-ways glance) how do we short this?
I understand why stablecoins exist, but doesn’t an operation like Tether go against the decentralization goal of “crypto”? The fact that the ecosystem has become dependent on these types of players is interesting to me. Why hasn’t the community demanded even basic transparency about their operations? It seems to be totally exempt from the pious expectations of other crypto projects.
"$USDT" seems intentionally named to confuse people and imply that there's some relationship to, like, actual dollars. Has the US government ever sued somebody for trademark infringement?
2. does the federal government even hold a trademark on "USD"?
Every time there's a tether story here, the inevitable discussion of fraudulent activity comes up because Tether seems like an outright scam. I'm inclined to believe all that from what I've read and however little I can make sense of. However, I can't really tell how this ends. They seem confident that there will be no repercussions to minting money out of thin air and, so far, they've been right. Eventually, that's…
To put this into perspective 1. 1 billion is just 1.33% of the total USD Tether has issued. 2. USDC also issued 1bn in the last 24 hours.
- A year ago 1B USDT would have been more than 5% of it's market cap.
- A year ago 1B USDC would have been 33% of it's market cap, today it is 2.5%.
A lot of stablecoin mintage has occurred over the past year.