What is Nostr?
Chineseman@gorf.com 🟥 /
npub1lcl…nuap
2024-07-09 19:22:47

Chineseman@gorf.com 🟥 on Nostr: sure you could. but the magic is at where they turn the crypto into something people ...

sure you could. but the magic is at where they turn the crypto into something people can use to buy general goods (fiat). so for something like CBDC or a stablecoin like USDT they really really want to control how you turn it into fiat.

the major reason they want to regulate is to control wealth transfer and taxation. hence by binance get stuffed with false charges of money laundering for terrorists. you cant buy a house, stocks or car with crypto because the goverment dont know how much to tax you in fiat for it.(they dont care its tethered to fiat USD, they only want fiat) but USDT in a cold wallet is extremely mobile. even better than btc.

Because BTC to USD is too extreme, people swapping that will have to sit opposite the guy they want to swap with and lock in at the same agreed moment, THE BANKS have to agree to 2 randoms transfering 100k USD one way, the recieving bank have to take the risk that the sending bank dont report the transfer as fraud 5 months down the road.

say if you want to transfer 20 million dollars to outside the country, you obviously cant carry cash, both customs will block you. but if you exchange it for USDT and use that security token to swap to USD or euro when you land, plenty of people want to swap with you. this is a major problem for swift.

if crypto is a standalone thing that cannot be swapped to fiat its not a threat(nfts lmao), its a threat if people start moving pools of fiat around for a stablecoin that is not regulated by the banks
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