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File: qKTewTl.png (86 KB, 1110x480)
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your stables can be frozen with a simple push of a button
press f to spit
>>
>>45482466
fiat transactions over SWIFT gets frozen as well
the whole idea of using stables is to get around the slow clearing period for wire transactions
>>
Are the people behind tether anonymous or something? It sounds like they're asking to get kidnapped and have their toes cut off until they unfreeze the guy's money.
>>
This has been known for years. Same goes for USDC and BUSD
I think only DAI is truly safe
>>
Can someone explain this to me? I'm retarded. How can they actually do this? (not rhetorically, I thought this was the whole point)
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>>45482466
Holy shit they are FTX accounts...
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>>45482691
>How can they actually do this?
What makes you think they can not do this in the first place?
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>>45482466
>Seething nocoiner faggot the authorities can't shutdown crypto it's decentralized
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>>45482691
tether contract allows selected adresses to block the movement of usdt
>>45482529
its bitfinex
>>45482466
wait until you find out about xlm
>>
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>>45482691
https://etherscan.io/address/0xdac17f958d2ee523a2206206994597c13d831ec7#code
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>>45482731
I thought smart contracts were completely fixed after release. Miners validate state changes, but didnt know something like >>45482786 was possible

I knew the CEXes could lock you out, but its crazy to me that Tether can. I would have thought OTC transactions would always be possible...
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>>45483028
>I thought smart contracts were completely fixed after release

The code is fixed but you can make it so you can change key variables in the contract
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>>45482466
no shit... stablecoins like tether are literally just banks who issue crypto gift cards on their credited dollars. if banks can freeze your shit so can tether because they are literally a regulated US bank.
>>
tumble your funds before buying stables if you want it for long term holding. or just use dai instead

>>45483028
>I thought smart contracts were completely fixed after release

some are, some aren't. you'll see shitcoin devs renounce ownership to show all the plebs that the variables cant be changed anymore. real projects dont renounce though for obvious reasons.
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>>45482466
I don't get it. Did Tether ever claim to be decentralized?
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>>45482466
What does this mean by "freezing" their addresses? They can't do any transactions or they can't redeem their tether for dollars?
>>
how could you freeze crypto wallet?
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>>45482466
tether isn't decentralized lol
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>>45483144
>tether
>regulated us bank

These are the people who give out financial advice
>>
fuck this shit
>>
I'm deep into the technical side of crypto. ALL the decentralization is blatantly fake.

I'm not going to spout any techno babble here. But if you are a programmer and study it extensively yourself (maybe 200 hours) you will see it is all a blatant charade.
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>>45482466
Tether is practically a private central bank, same as many others stablecoin issuers. There was never anything decentralized about it. Learn the first rule of crypto - the only decentralized crypto is Bitcoin(Ticker:BTC).
>>
Crypto is getting rapidly more centralized by the year. There will soon be no reason for "web3" to even exist if it offers no advantages over "web2"
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>>45482466
>2022
>using Tether
>>
>>45484294
When you attempt to move USDT from that address the USDT contract is checked and it blocks things on blacklist.
>>
>>45484857

Decentralization is a meme. DLT as a technology is being adopted by corporations, and they don't want decentralization because why would they? Too much risk of bad actors. There is a reason why a bunch of corps have partnered up and are currently building on a network that used to be shilled pretty often here.
All of the networks that people think are "decentralized" is also a meme. BTC for example, with a vast percentage of it's supply being held by whales. Same thing with ETH, same thing with all of them. It's just a different set of masters for you to put faith in.
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>>45482466
> your stables can be frozen with a simple push of a button
Not mine, I'm not a retard to hold usdt/usdc or some shit like ust/frax/mim/dai shit. I usually cash out into RAI, so idc
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>>45483028
Yes, it's fixed so that Tether still has permission to modify amounts.
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>>45483028
Read the contract, new fags
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>>45482466
Daily reminder that Tether owns Blockstream owns Bitcoin development and forums.
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>>45485130

Isn't the USDT on Avax and Fantom wrapped?
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I am getting scared bros
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>>45485130
What contract?
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>>45482529
>Are the people behind tether anonymous or something?
No
>It sounds like they're asking to get kidnapped and have their toes cut off until they unfreeze the guy's money.
Nigger, tether are the ones who kidnap and cut limbs. Their the federal reserve of the crypto world. You can't fuck with those niggers. They can fund an army of hitmans with a click of a button.
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>>45487606
rule 1, never put all your eggs in the same bag
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>>45482466
I use dai and every nigger who believes in crypto should do dai only.
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>>45488571

dai is just wrapped usdc
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>>45482554
DAI is mainly backed by USDC. Which means that if that USDC was frozen (due to DAI being a competitor) then DAI would become insolvent immediately.
>>
>>45482691
>>45483028
Smart contracts are programs. They are immutable (well not allways because you can use proxies and upgradeable patterns to mutate them) but for the most part they are immutable, but just like any other program they have functions which you can interact with, and these functions can change variables inside this program.


USDT and USDC contracts have blacklist functions which can blacklist addresses from trading or moving these tokens.
>>
>>45482518
The whole idea of crypto is that things like in OP are not possible, and the whole point of going awqy from swift etc.
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>>45488683
Yeah, people think smart contracts are automatically free from centralized control. Smart contracts "will be programmed the way they are, forever". If they decide to program central controls in, then they will have those controls, forever.
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>>45484857
I call it the jewisation
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>>45488621
Wut?
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>>45488949
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>>45489081
While that is true, the contract doesnt have a blacklist function, and thats just good enought
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>>45489081
What happens to DAI if ETH tanks?
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>>45489081
That shows a basket of tokens with the majority being ETH.

>unironically what did he mean by this
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>>45489482

DAI is one of the better stables. You should see what garbage shitcoins MIM is collateralized by.
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>>45488681
DAI launced way before USDC retard. DAI is only backed by Ether and the interest rates it manages.
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>>45489482
The Maker Oracle breaks and it becomes insolvent.
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>>45489591
yea but mim will liquidate the garbage if its falls down
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>>45484836
>the only decentralized crypto is Bitcoin(Ticker:BTC).
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>>45489673

>liquidity goes away
>just liquidate bro
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Good decentralization looks like spool being permissionless and non custodial so your funds never enter centralised custody
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>>45490386
Unless ust somehow instantly depegs to 0 there is nothing to risky here
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>>45490588
>unless UST gets regulated.
>>
Algorithmic stablecoins will be solved. This shit will not stop the march of decentralized finance
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>>45488681
DAI is backed with over collateralized ETH
>>
nobody has ever made the claim that Tether is decentralised
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>>45482899
>addBlackList (address _evilUser)
>destroyBlackFunds (address _blackListedUser)
holy shit some minecraft ban shit irl with real money
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>>45491004

now we can ban evil white supremacists from crypto
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>>45484817
>>45484857
I've tried explaining to people that crypto is more about security than decentralization but no one wants to listen... I suppose it's yet another form of self induced FUD
>>
Imagine believing stablecoins were in any way decentralized the very concept sounds like a federal bank scheme and they are pegged to the USD defeating the point of getting into crypto entirely lol
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>>45491114
they basically existed as a way to change money from crypto back to USD without actually getting a fat load of USD that you would have to pay taxes on
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>>45482529
Lol Tether team getting kidnapped? THEY are the ones that do the kidnapping and cutting the toes. Not some random petty thief that can't hire a team of elite killers without even caring about the money
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>>45491106
you only own your labor until you don't.

we live in a profoundly unfree world and all of the moaning about "protection" or "safety" is just window dressing for "control". If you do not control your own destiny you are a slave.
>>
Tether is a scam. Why would you EVER tether? it's the federal reserve of crypto.
>>
only sub-80 IQ subhumans use tether
>b-but I want to freeze my positions and stablecoins are the only way out!

sorry I'm not teaching a bunch of illiterate retards the most basic of things. You have the ability to short. Figure it out yourself. If you can't figure out how to "tether up" without actually using tether, after reading this line, then you're genetically not fit for trading and should go back to sucking dick for a $2 raise.
>>
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>>45485130
So just move it to a different address and then back to USDT. And if that doesn't work you can tumble it with XMR.
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>>45491312
based 1x shorter
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>>45491362
He can't do shit because the Tether is completely frozen.
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What about UST? Does it contain a blacklist function?
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>>45482466
bullish for LUNA
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>>45491004
It’s Minecraft all the way up
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>>45482466
lol imagine relying on Tether for anything
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>>45492010
Well sort of. There’s an updock clause in terras SUgma protocol
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>>45482466
Good. Bless Tether. Fuck these whale faggots trying to dump the market. Cuck them out of their money so the rest of us can catch up. Whales should've cashed out ages ago instead of trying to be greedy and manipulate the market.
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>>45482466
*so this is what a proof of concept that has been entrapped and will be killed looks like
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>>45491920
baka
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>>45482466
>frozen
Ftfh
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Tether is dropping in market cap
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Tether should at least explain why this happened. Not a good look.
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>>45492220
We don't sign our posts here
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>>45482466
Why are people still posting in this retarded thread? Shit like this comes up all the time and I don't know why. Stables will always be centralized because they require one party to have the ability to mint and burn at will.
>1 post by this ID

Fuck I hate this place
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>>45482466
That's what you get for being in stables
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>>45482466
are you new? any shit token on ETH is controlled by an entity and thye have full say. Soon when ETH moves to Proof of Stake they will also be able to freeze your ETH.

I suggest you take a good look at pic related if you want a actually decentralized crypto.
>>
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>>45482899
>blacklist
umm this is pretty racist. I thought crypto was supposed to be for everyone?



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