Tether - Unaudited For 6 Years/Rejects Auditor Because...
- Thread starter Nobert
- Start date
The moment it would be communicated the value of Tether would be ZERO. It would be an avalanche of sell orders.
And it could infect other crypto's too as people would fear that all crypto's are fake.
Should this happen, every crypto coin will face Armageddon unlike anything we saw before. It will pale 2008.
No. As a U.S. Person, I would be cautious about a service that says I'm not allowed to use it.
https://tether.to/legal/
DeFi or CeFi?
Pekelo, do you see how much I write on my posts? I don't think anyone reads my posts
Shit, I don't even want to read my posts, they are too fucking long
Anyway, DeFi is easy, it's an open-book, the problem is you don't seem to want to understand it or are not capable to understand it
Deposits get paid the interest from the borrowers who pay an interest on the loans
See my picture from previous post
You know, same as a bank?
Except no employees or buildings
All automated with a smartcontract that can do all the calculations in an Ethereum Virtual Machine (EVM)
You want to understand the automation behind the smartcontract, all you have to do is study the AAVE smartcontract to understand how it calculates the yields for depositors and the borrowers based on supply and demand on the platform
See my previous post
I don't think you understand my posts
For CeFi yields, I've posted many videos. Many youtube videos. Prime Brokerage. Securities Lending
You're not prohibited from owning Tether as a US person
That's a legal restriction on the website
If you're in NY, you are not allowed to own Tether. Are you in NY?
Otherwise, buy Tether from Coinbase
Don't be scared, it's the only way you'll learn first hand how to handle Tether
OK so the money is lent out. Got it. What happens when the loan goes sour? What if the loan was used for speculation and you know, it goes South? I
You forgot how a bank works?
You cannot borrow Tether from the AAVE platform without providing a collateral, such Eth or another crypto of value that is greater than the amount of USDT you're borrowing
The LTV ratio is based on your collateral coin. When the value of collateral goes below a safe threshold, you get liquidated, your collateral is sold off to pay off your loan
You know, like a bank
Are you capable of understanding this, Pekelo?
We've lost over half of the cryptos universe valuation, all things worked so well, over $1T worth of cryptos, many liquidations in DeFi
AND WE DID NOT NEED A FUCKING BAILOUT FROM THE FED
Wow, the AAVE cryptos DeFi bank is better than all the banks that constantly need bailouts
Respect cryptos, it's not a ponzi, look at the current financial system and see which is the real ponzi
And there lies the problem. It is all magical coins/projects backing each other. Interest is also paid in magical coins. Analogy with MBS of 2008 is quite interesting. Shit was getting AAA ratings because AIG was insuring it. All this madness was happening in regulated entities done by solid (at the time) financial institutions.
Now imagine what is happening in crypto world without any oversight. When it blows up, any crash we witnessed before will be small potatoes.