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I'm not sure what is that you are missing? Many exchanges now offer a set of Stable coins. If you had concerns with USDT then you should switch to USDC which so

by csomar 7y ago

I'm not sure what is that you are missing? Many exchanges now offer a set of Stable coins. If you had concerns with USDT then you should switch to USDC which so far functions the same as USDT. I did. Many people probably also did. USDT still holds its peg and did hold its peg through some bad price swings. So either it's fully backed or they are doing some magic there. > The market trusts it because number go up, and it's in the interest of exactly zero market participants to show the world the emperor has no clothes. Wouldn't work on extreme market fluctuations. Bitcoin dropped 50% and USDT still hold the peg. Bitcoin then almost tripled in a short period and USDT still hold the peg. I'm not sure if they have full reserves or running some magic; but whatever they are doing is working very well.

arcticbull 7y ago
> I'm not sure if they have full reserves or running some magic; but whatever they are doing is working very well. We know they don't have full reserves because we know 30% of them were seized. [1] > ...but whatever they are doing is working very well. Frauds work until they don't. [1] https://cointelegraph.com/news/head-of-crypto-capital-arrested-in-connection-with-money-laundering https://cointelegraph.com/news/head-of-crypto-capital-arrest...
- GoblinSlayer 7y ago
  Better call it economics. Not like there's difference, but economics is better for PR.
  - arcticbull 7y ago
    No, there's a big difference lol, the economy is managed and administered at the will of the people to benefit the people. This fraud is being administered by a shady cabal in the BVI with offices in Hong Kong to the benefit of themselves.
- mtrower 7y ago
  >>> We know they don't have full reserves because we know 30% of them were seized. [1] You suspect they don't have full reserves because you know 30% of them were seized. Presuming "full reserves" means 1:1 backing (what else could it mean, here?), your statement assumes they had exactly 1:1 reserves before the seizure. If they had more than that, your assumption could end up false. So sure, you suspect. From what I've read in this thread, I tend to agree. But I fail to see how you know.
javert 7y ago
> I'm not sure if they have full reserves or running some magic Presumably they buy tether when it's under $1 and sell it when it's over $1 to maintain the peg. Not magic.

by csomar 7y ago

arcticbull 7y ago

> I'm not sure if they have full reserves or running some magic; but whatever they are doing is working very well. We know they don't have full reserves because we know 30% of them were seized. [1] > ...but whatever they are doing is working very well. Frauds work until they don't. [1] https://cointelegraph.com/news/head-of-crypto-capital-arrested-in-connection-with-money-laundering https://cointelegraph.com/news/head-of-crypto-capital-arrest...

GoblinSlayer 7y ago
Better call it economics. Not like there's difference, but economics is better for PR.
- arcticbull 7y ago
  No, there's a big difference lol, the economy is managed and administered at the will of the people to benefit the people. This fraud is being administered by a shady cabal in the BVI with offices in Hong Kong to the benefit of themselves.
mtrower 7y ago
>>> We know they don't have full reserves because we know 30% of them were seized. [1] You suspect they don't have full reserves because you know 30% of them were seized. Presuming "full reserves" means 1:1 backing (what else could it mean, here?), your statement assumes they had exactly 1:1 reserves before the seizure. If they had more than that, your assumption could end up false. So sure, you suspect. From what I've read in this thread, I tend to agree. But I fail to see how you know.

javert 7y ago

> I'm not sure if they have full reserves or running some magic Presumably they buy tether when it's under $1 and sell it when it's over $1 to maintain the peg. Not magic.