I did competitive programming. I believe you need to push yourself to your limits to understand what your limits are and why you may have some. It helps with self-understanding. One can then figure out how to go further, faster.
On a side node, it was in competitive coding that I first ran into students using Ritalin for performance enhancement. Until then I had never run into it before.
There is a catch, but you won't find out what it was until they loose all of the money they are holding. There is probably a 50/50% chance this is just a Ponzi, and if it isn't it is some complicated strategy which can not handle black or even grey swan events, and there is a 5% chance there is a bug in their code that allows for all the funds to be stolen.
Could they be selling it at a discount, like $1.00 - X discount per Tether and allowing these other firms to benefit in order to get the flow? Bulk discounts to their friends?
I think back to how we have responded to this pandemic. We were in denial until the pandemic was spreading unchecked wildly through the population, and even a good chunk of the population is still in denial after 100,000s of dead.
We are a hopeless species when it comes to organizing effective collective action ahead of known disaster. We seem to only respond collectively once disaster has struck, and even then it takes time.
I read a book in 1997 that was about this. Can not remember the name or author of it for the life of me. It was about climate change and the risk that North Atlantic currents would shift causing a state change that would be hard to reverse. 24 years later we think it is getting closer, but we still do not act swiftly.
They want to exempt miners who are making Bitcoin from paying taxes on it? Why? They are making revenue from this activity. Of course they should pay taxes on that revenue.
On a side node, it was in competitive coding that I first ran into students using Ritalin for performance enhancement. Until then I had never run into it before.