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But even then... Why USD -> USDT -> BTC -> USD? Why not USD -> BTC -> BTC -> BTC -> USD? What does the extra layer of USDT really add legally, except for som

But even then... Why USD -> USDT -> BTC -> USD? Why not USD -> BTC -> BTC -> BTC -> USD? What does the extra layer of USDT really add legally, except for some added obfuscation that a few extra "intra-bitcoin" transactions would add as well? (Genuine question, this is one of the more fascinating stories I've heard in a while :-)

gamblor956 9y ago
It's my understanding that Tether transactions aren't traceable because there isn't a public blockchain...and possibly not even a blockchain at all. So the obfuscating step is the USD->USDT transaction. The rest of the process is getting clean money back.
- deleted 9y ago
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- unknown_apostle 9y ago
  Tether is on Omni layer. Its transactions are registered on the Bitcoin blockchain and I think that makes it traceable. USD -> USDT and back is traceable using standard investigations of books and banking transcripts of entities dealing with Tether's managers. Also, Tether is by now an internet-wide phenomenon. It's in the spotlight. And yet it keeps growing.