Re:Tether price manipulation
by justicezyx on Friday January 08, 2021 @02:14PM
(#25688823)
Digital gold is the kill app. That is enough to justify its market cap.
For example, Chinese can use bit coin to exchange large amount of funds to other currency, although this can only be done in private because the official ban.
You cannot. There is no exchange from CNY to Bitcoin.
CNY buys mining rigs and electricity which makes bitcoins.
Re:Tether price manipulation
by justicezyx on Friday January 08, 2021 @03:02PM
(#25689606)
Come on, it was banned, but there is plenty of underground channel... Why is that even needed to be mentioned...
Maybe I should be more clear in the OP.
That’s like saying the killer app of the internet is the internet.
The web gives me access to information quicker and easier than going to a library or bookshop. Email and IM means I can communicate with people in other countries quicker and easier than I could by post. Crypto doesn’t change anything.
A few drug dealers and some people living in countries with hyperinflation may care about “permissionlessness” and “censorship* resistance”, but for most people, actual money is far, far more convenient.
* That’s some Orwellian newspeak, btw. If someone defrauds me and a court of law ensures that I am restituted, the reversal of that fraudulent transaction isn’t “censorship” because stealing money isn’t “speech” or “expression”.