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Kinda like the federal reserve ...

• stephen_g 7y ago
  The Federal Reserve is the monopoly issue of US dollars within a legal and policy framework. Tether does not have that legal mandate to issue money! Perhaps a better comparison would be to banks (as the credit they create is essentially new money), but again, they are subject to restrictions (i.e capital requirements so they can absorb a reasonable level of defaults without ever touching deposits, etc.), operate within a legal framework, and have to stay solvent. So at best you could say Tether is probably an illegal shadow bank that probably isn’t solvent.
  • puranjay 7y ago
    It's so ingenuous for people to compare crypto to a sovereign government backed currency that has remained stable and solvent for nearly 250 years
• arcticbull 7y ago
  It’s time we start treating these folks for what they are: the antivaxxers of finance.
  • dredmorbius 7y ago
    Who, exactly?
    • arcticbull 7y ago
      (Sorry, this ended up in the wrong place and it's too late to edit/delete)