Thoughts on Blacklists and Stablecoins

What do you guys think about this? I found some cool articles.

Seems like Tether is blocking USDT transactions. There was a case of someone losing over 300k due to this.

USDT's market cap is, like, over 8 billion! But where's the audit info on their site? Just a claim that they’re fully backed.

Wait, did that money just pop up? Everything is just free money, right? Makes BTC pump... lol.

Seriously, who’s making these blocking calls? Did the users do something wrong? I mean, are stablecoins supposed to be decentralized or not?

Stablecoins are centralized, no doubt. If you need permission to use them, it’s not truly permissionless.

Guys, look at these stats USDC has only 1 banned address, while USDT has like 390. What’s that about?

So Tether finally broke down their reserves. Most of it is in cash, but it’s been ages since they did this!

This has been talked about a lot here. If you don’t like it, don’t use it. Blocking happens for law enforcement, especially in the US.

Or just switch to something like XHV and xUSD instead.

Never heard of anyone I know getting their funds frozen. Sounds like they were doing something shady.

Come on, Tether can’t be decentralized if it can block stuff without community input. That’s not what we signed up for.

You’re right. A genuinely decentralized coin wouldn’t block transactions without an open discussion.

But what about CBDCs? They could take this to a whole new level. Are we ready for that kind of control?

Totally agree. We wanted freedom from the system, but now it might turn into a nightmare.

It’s not just Tether doing this. Centralized exchanges have been blocking wallets for ages.

Do we just have to trust their word? Where’s the proof of these so-called criminals?

Check this out. There’s an article talking about how a crisis with Tether could hit the market hard.

Great thread. It really highlights why decentralized stablecoins are the way to go.

If they can block your tokens, why should you trust them? It feels like a scam honestly.