[EdwardDiego]

It's being manipulated by private entities, so, I'm not really sure it's an improvement.

[fsflover]

Just like the government itself?

[EdwardDiego]

Governments are far more answerable to average citizens than the people behind Tether or the whales currently, even if government isn't ideally accountable. Also, governments have reasonable incentives to keep currencies at levels that maintain economic conditions. Being voted out or overthrown are consequences of economic mismanagement.

I've yet to see that from Tether.

[stjohnswarts]

This is only true in democracies. In autocracies like Russia and China they just do whatever the government tells them.

[EdwardDiego]

The CCP is oppressively authoritarian because it's scared of its own citizens, especially its young NEET men.

[smokey_circles]

> I've yet to see that from Tether

The wheels of bureaucracy turn slowly, it's no different with any other financial scandal.

[EdwardDiego]

True, but the fact that government regulation is needed kinda voids the argument that crypto currencies are great because they can't be manipulated by the government like a fiat currency.