Cryptocurrency is going to be in our futures. Do you want Tether in that future?
Tether has been involved in malpractice since the beginning. It's value was never backed 1-1, its always been opaque to the industry- and at this point in time its treasury is filled with not-zero risk assets.
It does not make sense that USDT continues to be utilized while alternatives like USDC and DAI exist and have been transparent in their function. USDT is a ticking time bomb and its existence devalues the crypto-space.
Cutting out Tether is going to hurt, but it will hurt a lot less if we cut it out now. We do not want a future where an unethical actor is able to hold this amount of power. If cryptocurrency is the silent revolution, we must continually act to keep these players out. We must ACT
I made a petition to "CUT THE TETHER". The goal is to have developers and other community members notice the desire to rid itself of a "stablecoin" whos practice is opaque and not backed with USD.
This stablecoin is not worth $1, if Tether were to get knocked off its peg even marginally, a cascade effect would take place- leading to news coverage and a negative feedback-loop regarding worth. It would only take a fraction of signatures to get the ball rolling. If the community demonstrated its power in this regard it would be indicative of the value of the space long-term.
This will not be without short term pain but it is a necessary step to our Crypto Future.
Tether is holding us back, the first goal is 100 signatories.
Sign the petition and #CUTTHETETHER!
So, here's the link, https://chng.it/sN4Qns2hBS use your voice, and #CUTTHETETHER
Thanks
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