Follow

should I write a piece debunking tether fud lmao

@nic apparently they're *checks notes* doing what every traditional commercial bank is doing

@evankaloudis haha in fairness there's a good reason why stablecoin issuers should be fully reserved

@nic @evankaloudis to be fair there are good reasons for banks to be fully reserved.

@nic YES PLS i'll send it to all my permabear frens.

@nic Please do. I barely know what tether is to be honest.

@nic print it off and mount it on a backing of dollar bills to give it some legitimacy.

@nic

Yes oh yes, please. I got a list of links (incl two of On The Brink podcast episodes) I keep posting/sending people, but having a nice, concise debunking write up would help much more, I think.

@nic

Awesome 🙏

The only one I'm aware of for now is this one: blog.kraken.com/post/1664/on-t

Haven't looked into this too deeply either though, seems so silly anyway, but people just keep on bringing it up, ugh.

@Raindogdance @nic

Imagine being concerned about Tether when the entire banking system is running on no (0%) reserve requirements and while governments and crnte banks are debasing their currencies by 20B+ per day. 🙂

@melik @nic
I think part of it is people being so wrapped up in their "bitcoin is a bubble/ponzi/scam" view that they just cannot fathom it still thriving year after year, so they grasp for any kind of theory that "explains" it without challenging their negative view of bitcoin... And some people just looooove conspiracy theories :)

@Raindogdance @nic

Haha yes, the only real conspiracy is the government printing 20B+ per day and the entire financial system running on 0% reserve requirements!

@nic yes. I come across so much tether fud that there needs to be a good article to link to.

@nic I would appreciate one. Most Tether FUDsters are just complete haters and not too bright. But there are a few honest ones out there. Travis Kimmel has made some valid points on cause for concern.

@nic depends, will it give the fud more credibility than it debunks? who's actually gonna read it, people whos minds it will change, or people who will believe it more after?

@nic I think Tether is probably in huge trouble, but fears of this destroying bitcoin are overstated.

@nic It would be nice to have a single piece that debunks the same FUD that appears to be rising from the dead every couple of months/years

Sign in to participate in the conversation
Bitcoin Mastodon

Bitcoin Maston Instance