Tether’s 99% Marge: Wie Cryptos schlagendes Herz zu seiner Erbsünde wurde. Wir haben die Bank ersetzt, aber wir haben ihre parasitärste Funktion wiederholt und sie in fast komischem Grad verstärkt.
https://sylvainsaurel.substack.com/p/tethers-99-margin-how-cryptos-beating
4 Kommentare
Did we now?
I’m staying away from Tether. There are way better stablecoins.
This might be controversial, but I think that Tether is similar to a CBDC. And people apparently need this, because everything in the real world is priced in fiat and they otherwise can’t cope with the volatility of cryptocurrencies.
The result is that a few people can siphon off a gigantic profit (how many employees does Tether have?).
The profits of Tether are only possible because Ethereum decided to be non-profit.
I think we could have better stablecoins if they were issued directly by the national banks. They can print money anyway and nothing gets better if there is another private issuer in between who profits.
Tether basically has the same business model as a bank, but they have way lower costs in relation to the amount of assets they are holding.