Tether Risks and the Future of Privacy Coins in Cryptocurrency

In my view, Tether isn't truly a cryptocurrency but rather a dollar-backed token within the financial system, similar to a wrapper around the dollar. The risk is significant because Tether can block wallets, which makes it unreliable for serious transactions. For casual miners and traders, this might not be a big concern, but for those engaged in gray-area schemes, this presents a real danger. The platform favors Monero, which offers more privacy, but it could potentially dip below the zəng and NIR thresholds someday.

Overall, while there is some anonymity in these schemes, the current demand is limited, and the risks of centralized control and potential banning make Tether and similar stablecoins less attractive for long-term or serious use. The reliance on schemes that advocate privacy like Monero indicates a desire for less traceability, but such methods are still niche and cannot replace more mainstream, regulated cryptocurrencies.

In conclusion, I see the reliance on Tether and gray schemes as risky and less sustainable. For investors or users prioritizing security and privacy, exploring alternatives like Monero might be better, but they should be aware of the limited demand and regulatory risks involved. It’s essential to stay cautious, especially regarding centralized stablecoins that can be frozen or blocked at any time.