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I agree that the audit failure makes Tether look super shady. But when traders continue to buy and sell within 1% of parity, that's a signal that maybe there's
by panarky 9y ago
I agree that the audit failure makes Tether look super shady.
But when traders continue to buy and sell within 1% of parity, that's a signal that maybe there's more going on here.
I don't buy the concept that Bitfinex can somehow rig the price on other exchanges. If traders are all selling Tether, while simultaneously new Tethers are getting printed, then the price should tank.
When the price doesn't tank, that should tell us there's more to the story.
- Sangermaine 9y agoYes, gullibility and greed.
- tim333 9y agoTether presumably maintain the price by buying and selling USDT within 1% of parity, probably automatically using software, and probably mostly by trading BTC/USDT rather than USD/USDT given the difficulty of moving actual USD. It's not really rigging the price in a bad way - it's kind of how the thing is supposed to work.