I, and many others, suspect Tether is being used to effectively counterfeit hundreds of millions of dollars of perceived value, which are being immediately reinvested into Bitcoin to keep it from collapsing.

I think I agree with him, but don't know much about Tether beyond this post. It's bizarre that they are printing hundreds of millions of tethers a day though.

kleinbl00


mk:

It freaks me out. Even if USDT was being run as advertised, it’s a terrible system that shouldn’t exist. This technology is supposed to minimize the need for trust. I only wonder how big the fallout will be.

https://mobile.nytimes.com/2017/11/21/technology/bitcoin-bitfinex-tether.html

I wish they would go down sooner than later. The whole thing stinks.


posted by veen: 211 days ago