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Yes, but that's irrelevant. The fact that some groups of people can arbitrage the price of tether against USD means they ought to be equivalent.
by darawk 9y ago
Yes, but that's irrelevant. The fact that some groups of people can arbitrage the price of tether against USD means they ought to be equivalent.
- jey 9y agoThis is only true if there really is a USD for every USDT out there in the market. If it turns out to be a fake, the whole thing comes crashing down and becomes unpegged as soon as growth stops, i.e. as soon as we run out of "greater fools" to keep supplying sufficient inflow of USD for everyone that's trying to cash out.