With Tether headed to El Salvador and Bukele posting towards Rumble that they should also relocate to El Salvador, it seems like the country has begun attracting major up and coming businesses with their Bitcoin stance. This could be the beginning of a major shift in economic power towards countries that embrace Bitcoin.
Huh? Since when is Tether... Bitcoin? This is demonstrating an evolution away from Bitcoin, not towards it.
Tether have plans to put up a head quarters in El Salvador
https://dig.watch/updates/tether-moves-to-el-salvadorI guess they see how serious this country dealing with Bitcoin and maybe they can set up some good connection to people there if they put their head quarters in that country. But I don't know if this is beneficial to them if they also use tether since somehow they cannot get anything with a coin that has stable value.
But one thing is for sure there El Salvador will still be in focus with Bitcoin when it comes on investment. Provably what initial benefits they would get from the move made by Tether is to boost more their popularity and maybe gather more tourist attention which is helpful for their country.
My take is that Tether is a second-best solution now that sidechains (layer {n}) methods are worked out; at least for those of us who were philosophically more driven. The latter being 'real' BTC pegged out on the Bitcoin blockchain in a verifiable manner.
Tether on tron was 'big in Asia' some years ago at least and before L2 worked and before Binance had been appropriated by Uncle Sam. It certainly did a lot toward popularizing 'crypto' more generally. My feeling is by this time it's utility as a sink for USD, and thus a means of squeezing a little more life out of the USD-reserve-currency system, has been recognized and developed.
I'm ambivalent about Tether, or even the more corp/gov elements of iFinex moving to El Salvador. At the end of the day, if 'real Bitcoin' cannot withstand the machinations of some of these forces, it should probably wither and die as has been the case with countless species. It's nature's way. That's not to say that those of us who care should not do what we can to bolster it and avoid significant threats. Certainly the other side will be operating in the reverse direction.
I'm more than a little annoyed at putative 'former enthusiasts' or 'real Bitcoiners' who are shouting that 'Bitcoin has failed' because scumbags figured out how to use it for their ends. As far as I am concerned, all 'Satoshi' gave us was a system which was neutral and gives every player the same chance. If the 'good side' has failed to make use of it as well as the 'bad side', then
fuck the 'good side' and the horse they rode in on. I can promise that were a solution devised that could only be used 'for good', then it would not have gotten to first base.