Tether is starting to depeg from USD again

Re:Tether is starting to depeg from USD again by JohnJamesRambo on Monday June 13, 2022 @10:55AM (#31726467)

“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust." -Satoshi Nakamoto Feb. 11, 2009

I have to agree with Satoshi that these central banks have not done a great job at that haha.

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Re:Tether is starting to depeg from USD again by shkkmo on Monday June 13, 2022 @12:47PM (#31728072)

The economy requires trust to work, including the cryptocurrency economy.

Cryptocurrency supporters like to mythologize about everyone managing their own wallet and running their own nodes, but practical reality shows that to reach any kind of scale you need trust.

Somehow all the cryptocurrency advocates who pan trusting central banks don't seem to have nearly the same issues with trusting a company like Tether or Binance who have far less accountability..

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Re:Tether is starting to depeg from USD again by compiler-guy on Monday June 13, 2022 @11:36AM (#31727038)

Although central banks definitely have their problems, the US bank scandals in the 1800s make the central bank's failures look positively benign.

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Re:Tether is starting to depeg from USD again by afroboy on Monday June 13, 2022 @11:41AM (#31727095)

And the circus of cryptocurrency is better?

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