This is genius.
Nobody wants to buy your crypto phone? Your warehouses are full and bills starts piling? Just create some monopoly money and give it to who buys that phone.
So now crypto is not only wasting the electricity for the most inefficient payment method ever created (for Bitcoin it takes a whole day to verify a number of transactions that Visa/Mastercard can do in less than a second) but also producing and shipping a phone all around the world, just for getting that monopoly money, then immediately trash the phone
Ah yes tether, the “we’re 1:1 backed by dollars, pinky promise don’t worry coin” that’s printing money at a rate that makes the Argentina central bank chief an amateur
Printing stats: https://nitter.1d4.us/usdcoinprinter
Coiners: “Fiat is bad because governments can just print more whenever they want. That’s why all my money is in Dog Butt Coins!”
Tether: “Printer go brrrrrrrrrrrrrrrrrrrrrrrrrr…”
Can’t find recent stats of money printed by the argentinian central bank, but in the first semester of 2022 they printed $5 billions.
Amateurs. Tether is printing that amount every month.