This is actually a great and under appreciated point. Why don't stable coin companies just run their own, internal database instead of using centralized shitcoins? It would be more efficient.

I suspect the answer has something to do with "holding customer funds". Using "decentralized" coins gives them legal refuge. Except, as you point out, those shitcoins have incorrectly been labeled "decentralized" and "commodities" by the US, when they're actually very centralized and security-like in nature.

USDt is very popular in Latin America, more popular than btc

For sure, Makes sense to push global demand of tether on the front end to backstop bond issuance on the back end!

But what's the end game? I still feel like it's a niche product for certain people who remit, trade across boarders or have poor local financial services. In South Africa for example, you can have USDT but you need a liquidity provider like an exchange to get goods and services, which is ultimately what people want.

As for a macros side lets say a nation goes onto a USDT standard, it now has no wiggle room to devalue their currency to remain competitive or ease their debt burden?

I do think there's merit to the dollar milkshake theory I just don't think its the only force at play

I'm with you, but if you could relay LN PSBT pre-images over fax, VOIP, or carrier pigeon, does that mean that we can't have fax machines, internet or birds? Maybe I'm being a bit simplistic but the same can be said for many things. Knife crime is a problem. Every kitchen has a knife and they are extermely useful for cutting meat, vegetables and bread. What are you going to do about it? Either you live in an autharitarian backwater where governments start demanding you have a license for a pencil and a sheet of paper. Or society deals with crime how it has generally in the civilized world. You have police forces, inverstigations and the presumption of innocence until proven guilty. Otherwise, what are we paying taxes for?

People do good and bad with Tether I guess (after they convert it into currency.)

Asere esto es serio, que cojones le pasa a esta gente, hasta hablan de la capa 1. Pienso que por el protocolo en sí no deba pasar algo terrible, pero si tú dices que hay algo peor por venir. Entre los gobiernos cargándose los Bitcoin con la maquina de imprimir, las empresas cargándose lo otro que hay con lo que nos roban junto con los gobiernos y los bancos. La mezcla de mierda con Bitcoin. Man esto está malo.

Dude, this is serious. I think that the protocol itself should not cause anything terrible, but if you say that there is something worse to come. Between governments destroying Bitcoin with the printing press, companies destroying everything else that they steal from us along with governments and banks. The mixture of shit with Bitcoin. Man, this is bad.

This is how the overlords will try again to take over Bitcoin.... And wait for the worst to come...

Strong narratives derive from weak people. People don't understand power. They should.

Many actually agree with Roger than disagree. That's OK. You can agree with him on some things and not on others. Life's messy, not binary.

IMO: focus on you and what you can do. Everyone now, have to figure it out.