Confiscating USDT vs ETH vs Bitcoin ?
- Thread starter bountymounty
- Start date
No need to in order - they have direct access now.
Additionally - they don’t follow due process via the court / legal system which Circle does (hence the disparity in blacklisting between the two).
DAI historically would have been safer BUT now that MKR transitioned to SkY you have the issues that you’ll eventually have forced conversion and the new stable coin is much like Tether in their approach as it isn’t a US company following US law but a non US entity that can︀ be plied upon and doesn’t have the same defense/protections/legal defense etc
There’s ofcourse the new︁ Hayes backed one that might end up like Terra Luna but haven’t personally checked it︂ out apart from buying the shitcoin in case it rises like Luna
Additionally - they don’t follow due process via the court / legal system which Circle does (hence the disparity in blacklisting between the two).
DAI historically would have been safer BUT now that MKR transitioned to SkY you have the issues that you’ll eventually have forced conversion and the new stable coin is much like Tether in their approach as it isn’t a US company following US law but a non US entity that can︀ be plied upon and doesn’t have the same defense/protections/legal defense etc
There’s ofcourse the new︁ Hayes backed one that might end up like Terra Luna but haven’t personally checked it︂ out apart from buying the shitcoin in case it rises like Luna
Same thing driving the stock market (Nasdaq specifically) drives Bitcoin (liquidity)
Altcoins follow that around the business cycle
Altcoins follow that around the business cycle
Can you︂ post a source about them having direct access to it? Tether can't give access to︃ any LEA without a court order.
Took me a while but it was shortly after this article, Tether announced that a portal had been established for the Treasury/SecretService / FBI
I.e
On or about March 19, 2024, the USDT tokens at the cryptocurrencyaddress were frozen by Tether Limited. Thereafter, pursuant to a federal seizure warrant issuedby U.S. Magistrate Judge Jennifer D. Armstrong on July 31 , 2024, Tether Limited "burned" theUSDT tokens then associated with the cryptocurrency address and reissued the equivalent
https://www.justice.gov/usao-ndoh/media/1372521/dl?inline
Funds are frozen without a warrant
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With Circle they are frozen after a warrant (like a bank account).
On or about March 19, 2024, the USDT tokens at the cryptocurrencyaddress were frozen by Tether Limited. Thereafter, pursuant to a federal seizure warrant issuedby U.S. Magistrate Judge Jennifer D. Armstrong on July 31 , 2024, Tether Limited "burned" theUSDT tokens then associated with the cryptocurrency address and reissued the equivalent
https://www.justice.gov/usao-ndoh/media/1372521/dl?inline
Funds are frozen without a warrant
----
With Circle they are frozen after a warrant (like a bank account).
Tether is kinda like Binance, you don't actively use it, hold it, transact through or have an account with.
Use as a bridge token during a transaction but never more than.
Not because you are trying to not be frozen, just because you never know when the hammer is going to drop on Tether, much like Binance in 2021 -> the signs were there.
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One thing i noticed, the FBI mentioned Thorswap in that doc, its the only on-chain quick atomic swap -> guessing that's going to become a target next.
Use as a bridge token during a transaction but never more than.
Not because you are trying to not be frozen, just because you never know when the hammer is going to drop on Tether, much like Binance in 2021 -> the signs were there.
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One thing i noticed, the FBI mentioned Thorswap in that doc, its the only on-chain quick atomic swap -> guessing that's going to become a target next.
They just haven't gotten round to charging you for laundering yet.
Let the fishes swim and get a bigger batch when the net pulled in.
Let the fishes swim and get a bigger batch when the net pulled in.
I’ve been doing some research over the past few days on all of this, and my conclusion is that BTC is the coin to focus on. Its volatility means that you should only invest money in it that you won’t need in the immediate future, otherwise, you risk finding yourself in a difficult financial situation.
I do wonder where people have been living when I come across comments like this over a decade later
One point i'll make the Treasury released a presentation arguing for making private stablecoins involving the $ illegal in favour of a CBDC based on 'risk' of the underlying
Unsure what impact that will have, i.e if they do that, i imagine overseas someone will create a new stablecoin much like the Eurodollar was made, much like USDT initially but completely protect it self from the off from the US directly and indirectly so it can't be indicted/sued for initial failings (hence USDT proximity to the US these days to cover their asses).
Unsure what impact that will have, i.e if they do that, i imagine overseas someone will create a new stablecoin much like the Eurodollar was made, much like USDT initially but completely protect it self from the off from the US directly and indirectly so it can't be indicted/sued for initial failings (hence USDT proximity to the US these days to cover their asses).
One could also use good old cash combined with futures for price fixing but that would imply a fair amount of footwork.
There’s enough diversification opportunities on chain to advert issues
Besides only the plebs really withdraw everything for companies it’s easier to keep on chain for accounting
Besides only the plebs really withdraw everything for companies it’s easier to keep on chain for accounting