MW respectfully you obviously know nothing about this. Nobody says tether (or any stable coin) is decentralized. Literally nobody thinks that.
Tether is expecting 700 MM profit in Q1
- Thread starter Pekelo
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MW respectfully you obviously know nothing about this. Nobody says tether (or any stable coin) is decentralized. Literally nobody thinks that.
Oh for Jesus Christ...
First, I never bought into it. Second, my criticism of crypto general has nothing to do with Tether LTD making money.
After all how do you run a stable coin if you don't make it at least breakeven??
Anyhow. for the future, concentrate more on the issues, instead of me.
First, I never bought into it. Second, my criticism of crypto general has nothing to do with Tether LTD making money.
After all how do you run a stable coin if you don't make it at least breakeven??
Anyhow. for the future, concentrate more on the issues, instead of me.
Lol, then care to explain what the benefit is to buy tether other than purely for speculative purposes (with huge risk embedded)?
holy shit nobody buys it to speculate, it stays at $1!
You might buy tether with the intention of trading it for another cryptocurrency but you wouldn’t speculate on tether itself.
it’s like saying you buy a money market fund to speculate.
Please google stable coin before responding further. This is comical.
I obviously I know nothing about cryptos. Never claimed I did.
So they are means of exchange between different cryptos. Every time I ask I get the impression nothing is simple and easy with cryptos. So, I assume the spreads between crypto pairs is too high to exchange directly?
So they are means of exchange between different cryptos. Every time I ask I get the impression nothing is simple and easy with cryptos. So, I assume the spreads between crypto pairs is too high to exchange directly?
terher or any other stable coin is pegged to a dollar. It is used to buy and sell crypto across various crypto platforms Since non of these platforms can process fiat.
tether original claim was that for every tether they release there is 1usd in their bank. Once this lies was exposed they claimed that they are backed for commercial paper. When that fraud got exposed by Bloomberg (they called all major bank and no one ever saw tether trading a single commercial paper), they said they have no commercial paper.
essentially they just print fake money that all crypto platforms accept as if it is USD. It has been almost 9 years and not a single audit was released from reputable firm.
this is why crypto got to the levels it did. Stable coins represent like 80% of daily volume.
why regulators not shutting them down is a million dollar question.
Well, but they're not technically "printing" out of thin air. When traders like you and I buy Tether, we need to pay them with real money. For instance, if I want to buy 10,000 USDT, I need to fork over $10,000 (plus fee) from my bank account. It ain't like I get it for free.