Tether actually has one of the better business models out of all of it. They take real dollars, print fake dollars, then buy bonds/treasuries (and gold) with the real dollars.

https://x.com/diogomonica/status/2019452516786925756

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Ekaros 3 hours ago | parent [-]

I am too sensible for financial markets. As such I just do not get why money would keep getting poured into the system. And not enough would exit...

At best you are buying a dollar with dollar. Just doesn't compute for me.

	▲	csa an hour ago \| parent [-]
		> At best you are buying a dollar with dollar. There are at least two scenarios in which “just a dollar” is a great outcome for someone purchasing a stable coin (assuming that it’s actually stable): 1. You want the convenience of digital coin transfers/payments without the variance of price swings (e.g., recent Bitcoin). This can be especially useful when you have access to a phone but limited or no direct access to modern banking facilities. 2. It’s easy to get your local currency onto an exchange, but it’s not easy or advisable to have a dollar bank account or keep large amounts of dollars in cash in your locale. 3. (I guess for completeness) You want to engage in activities that are of questionable legality (e.g., drug sales in certain places, online poker in most of the US, etc.).