John Dennehy on Nostr: This is great cause we should talk about this more. The danger is not going to knock ...
This is great cause we should talk about this more. The danger is not going to knock on the front door, it's going to be hard to see by design
I agree with all of this, aside from one thing. This is pure speculation but how logical game theory would play out, is that they did not approach the US govt--the US govt approached them.
They would have offered a stick (jail, shut down, etc.) and a carrot (freedom, $$$$$$$$). Tether took the carrot. This is just how i would expect it to happen with every stablecoin issuer at scale. It's complicated and nuanced with pros and cons, but tether is captured by the state--which means that it's effectively a CBDC with extra steps.
I agree with all of this, aside from one thing. This is pure speculation but how logical game theory would play out, is that they did not approach the US govt--the US govt approached them.
They would have offered a stick (jail, shut down, etc.) and a carrot (freedom, $$$$$$$$). Tether took the carrot. This is just how i would expect it to happen with every stablecoin issuer at scale. It's complicated and nuanced with pros and cons, but tether is captured by the state--which means that it's effectively a CBDC with extra steps.