My response to those saying the "Tether mafia" is going to "get" BCH (i.e. kill it)
So I saw a post today saying
The Tether mafia is going to get you
The post meant that Tether was going to kill BCH.
I decided to write a little response, which combines my thoughts on this.
The BCH community is not afraid of terrorists. It has been "terrorized" for years in many ways (smear campaigns, DoS attacks, even death threats to big blockers). We do not negotiate with anti-Bitcoin terrorists. We keep building up the peer to peer electronic cash they hate so much.
Yes, Tether can be used to damage the price of coins, just like it can be used to inflate them. This may be just another demonstration of the evils of fiat money (Tether basically masquerades as digital USD, sometimes printing billions in a week).
Tether, at least USDT, is nominally pegged to the USD. The other Tethers, if they even still exists, are not market relevant. Let that sink in. Tied to the ultimate shitcoin. I think you can imagine what happens when USD goes to shit. Tether affected - hard. Of course it's backed by much less real assetss than claimed (court cases have proven this out). When there is selling pressure, it is likely to collapse, fast.
As long as Tether is used to suppress price, this is slightly bad for BCH holders in short term, but we can look at it as good for BCH distribution in long term since that BCH can flow into more hands. Esp. as people are already becoming more aware that BCH is the Bitcoin that works as p2p cash. Its resilience is proven through many attacks and its scaling philosophy is sound. It will keep serving global commerce as a workhorse with low fees, fast and secure transactions and a big enthusiastic community of early adopters of Bitcoin.
TL;DR bring on your Tether mafia. We are here for the long run. We are Bitcoin Cash, we are Bitcoiners who understand this is a marathon not a sprint. Your fake dollars don't impress. Hard money is what this game is about.
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