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As Tether flails, cryptocurrency exchanges launch rival stablecoins
- tromp 8y agoClaims of Tether failing are slightly exaggerated: https://coinmarketcap.com/currencies/tether/#charts https://coinmarketcap.com/currencies/tether/#charts It was closer to failing in Apr 2017, dipping below 0.92$, while recently it only dipped below 0.96$. Perhaps it's somewhat worrying that it hasn't been above 1$ since Oct 11, but it's still managing to stay within a few percent.
- lozenge 8y agoAny drop past $1 longer than a few minutes indicates Tether isn't really backed by USD. Which is what the external evidence also shows (no audit, Tether terms explicitly say they are not redeemable for USD, etc)
- appleflaxen 8y agocan a person short a stablecoin?
- rednerrus 8y agoIs there anyone that trusts there is a USD for every Tether without an audit?
- T-A 8y agoSpeaking of the devil [1]: The Riksbank's e-krona project proposes in its most recent report that the Riksbank should: + Begin to design a technical solution for an e-krona in order to test which solutions are practicable and possible to realise + Draw up proposals for legislative amendments needed to clarify the Riksbank's mandate and an e-krona's legal standing + Continue investigating the financial aspects of an e-krona [1] https://www.riksbank.se/en-gb/payments--cash/e-krona/ https://www.riksbank.se/en-gb/payments--cash/e-krona/