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>The majority of markets don't care if it is 100% backed, like they don't care when their bank does fractional reserve. Yes, but doesn't Tether promise that th
by ravingraven 7y ago
>The majority of markets don't care if it is 100% backed, like they don't care when their bank does fractional reserve.
Yes, but doesn't Tether promise that they back each coin with a dollar? I would care very much if I found out that the issuing party is lying.
- p49k 7y agoYou’re arguing in circles. Maybe you would care, but the point OP is making is that the people who are engaging in the transactions that cause it to be pegged at $1 don’t care if Tether is lying because it doesn’t affect their use case in any significant way.