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How are they any different? They both do fractional reserve banking. If anything, Tether is more robust because they aren't controlled by central banks.
by applepple 5y ago
How are they any different? They both do fractional reserve banking. If anything, Tether is more robust because they aren't controlled by central banks.
- tarsinge 5y agoA random individual in the street can do fractional banking too, and by that reasoning is more robust than a bank. Why would you specifically trust Tether with your money?
- kanwisher 5y agoWe used to have private banks 100 years ago, and people would lose their money on a run on the bank. Central banks were created to have a shared liquidity pool so you are all safe in your deposits. Not just a private company that issues money and can run away with it all