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If Tether is a "scam" backed by nothing, why would other Cryptocurrencies be more valid? It's just software.
by 0wing 9y ago
If Tether is a "scam" backed by nothing, why would other Cryptocurrencies be more valid?
It's just software.
- bb88 9y agoIt's price fixed at the US Dollar. So if I own USDT, I should be able to convert USDT to BTC (e.g.) or paper money. If everyone converts their USDT to paper money, the organization that backs USDT has to refund USDT to dollars. If there aren't enough dollars to cover the price of USDT selling, then the USDT market goes belly up. BTC is buy/sell driven through some kind of exchange so the price can float.