MasterCard to Support Crypto Payments Sometime This Year

johnarb said:
Sorry I'm not as informed on Tether as others.

Tether concerns have been around for years. I'll tell you from my experience, the Tether fud hurt me in the last bull market/bear market cycle (2017-2019) as I didn't utilize stablecoins as a safe haven due to my mistrust of Tether I didn't trust all stablecoins that are fine and have no issues (i.e. USDC, GUSD, etc)

Imho, Tether is fine now, but I have other options so I don't have a need to store a significant amount of USDT and will not do so

If you and RedDuke have concerns on Tether, you should not use them or you can contact them to get more guidance on how you can perform proper investigations to alleviate your concerns

https://wallet.tether.to/transparency
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I think the issue isn't about concerns regarding using them, its how easy it is to create them.

I think its very similar to faking gold. A 10oz bar might look shinny, but if its only a piece of gold plated aluminum, then that bar is hardly worth anything. Likewise, if you can exchange tethers easily for BTC, but if the way to get or make a tether is much easier than to make a BTC, then there is an obvious problem with the price of BTC.

So next question. How do I get a tether? I wanna accumulate some cheap tethers and exchange for BTC! :p
 
NoahA said:
So next question. How do I get a tether? I wanna accumulate some cheap tethers and exchange for BTC! :p
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You can't create Tether out of thin air. You've been fed something that is not true. You need to deposit $1 to mint 1 USDT

If you want to be like RedDuke believing that for several years now, be my guest :D

Otherwise, be like smart money Fidelity, Guggenheim, Blackrock, Stone Ridge, Microstrategy, Tesla, Harvard Endowment fund, MassMutual and invest real $ to acquire bitcoins

Or be in the sidelines. It's ok, too, bitcoin doesn't care and will move on without you

:cool:
 
NoahA said:
I think the issue isn't about concerns regarding using them, its how easy it is to create them.

I think its very similar to faking gold. A 10oz bar might look shinny, but if its only a piece of gold plated aluminum, then that bar is hardly worth anything. Likewise, if you can exchange tethers easily for BTC, but if the way to get or make a tether is much easier than to make a BTC, then there is an obvious problem with the price of BTC.

So next question. How do I get a tether? I wanna accumulate some cheap tethers and exchange for BTC! :p
More...

exactly, BitFinex claims that every tethers they issued is backed (originally by dollars but that has been already proved false) but they refused an audit, and the the only time they hired auditors, they just fired them almost immediately claiming auditors did not understood their model.

We have no idea what is the real value of BTC as tethers are literally printed out of thin air and used to bid up BTC price.
 
johnarb said:
You can't create Tether out of thin air. You've been fed something that is not true. You need to deposit $1 to mint 1 USDT

If you want to be like RedDuke believing that for several years now, be my guest :D

Otherwise, be like smart money Fidelity, Guggenheim, Blackrock, Stone Ridge, Microstrategy, Tesla, Harvard Endowment fund, MassMutual and invest real $ to acquire bitcoins

Or be in the sidelines. It's ok, too, bitcoin doesn't care and will move on without you

:cool:
More...

And yet, BitFinex does just that, create Tethers out of thin air.

as far as Wisdom of big names, do names like BearSterns and Lehman Brother ring any bells.

how about all billions lost when AAA MBS blew up in everyone faces. And that shit was regulated. And yet a way was found to cheat.

In Wild West crypto world, anything goes apparently.
 
Mastercard issued an important statement, according to which the global financial services provider will be enhancing its crypto payment program. The main audiences that will benefit from these expected changes are cryptocurrency exchanges and digital wallet companies and owners.

In the press release, MasterCard confirmed that because of these new integrations, more banks and crypto companies will be able to offer card payment options for digital currency users. In short, the company aims to facilitate card payments for crypto transactions.

The credit/debit card giant will be working closely with Circle, Paxos, and Evolve Bank & Trust to bring users these new innovations.
 
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