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Those USDTs weren't "created" per se, they were just converted from regular USD which were created out of thin air
by delaaxe 6y ago
Those USDTs weren't "created" per se, they were just converted from regular USD which were created out of thin air
- mcherm 6y agoDo you have any evidence that they were, in fact, created from USD? Given the strong incentives to produce such evidence and the complete lack of it I am highly skeptical.
- afarviral 6y agoI think it was a comment that fiat itself is created from thin air since it is the social contract of accepted value which gives any currency its value. It could be just made up numbers or more legit, it doesn't matter because people act on the belief that it is worth its US equivalent ... therefore it is.
- imtringued 6y agoThe problem is that you cannot spend TUSD directly, if paypal accepted it or your local grocery store accepted it nobody would question its authenticity. However, since TUSD has to be converted to USD this assumption is just wishful thinking.
- delaaxe 5y agoThey were audited and it was found that every USDT was backed 1:1 with a fiat equivalent, why am I getting downvoted?
- geonnave 6y agoSerious question: what happens when I buy USDT using another currency than USD? e.g. EUR or BRL. How can USDT maintain its parity with USD under such circunstances?
- delaaxe 5y agoThat would be just a regular trade like BTC/USDT. No issuance of new USDT backed with real USD