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RE: GBPT is Tether's new big bet.

avatar of @mercadomaestro
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@mercadomaestro
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2 min read

Here's where I differ: "And possibly London would seriously consider recognizing stablecoins as a legal means of payment, as London seeks to completely avoid currencies as a means of payment that are very volatile and do not bring confidence to consumers, besides that transactions would be much faster and safer as well as economic and without intermediaries."

The Bank of England would love to know more. As a fiat perma-bear and very pro-crypto, I want to see the technology grow in adoption and succeed, bringing people out of the financial shackles that exist within the fiat system. With that being said, I don't think any central bank is going to just allow something else to take away money from its customers.

I definitely agree with the suggested increase in remittances abroad. I'd love nothing more than for people to be paid enough to live and increasing the amount that goes back to supporting family is a big part of the world, today, it can't be ignored.

"Good basis of their coins: Something that supports the issuance of coins of the company Tether is that they have billions in commercial paper, bonds, physical bills and other assets."

^^This I also have reservations about, UNTIL Tether shows its full 3rd party audit that discloses what their reserves are. The CEO seems a little overprotective of its business, which makes me question what it is that they're actually holding (as their reserves).

With all that being said, I love the idea of providing a legitimate on-off ramp for crypto-to-fiat and vice-versa. That would improve many millions of people's lives, because they wouldn't get shafted by global money exchange companies' tx fees and taxes aren't applied the same way.

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