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> It could also be an issue if a large number of people try to redeem a large amount of Tether for USD. Not possible. Tether's terms of service explicitly stat
by qeternity 5y ago
> It could also be an issue if a large number of people try to redeem a large amount of Tether for USD.
Not possible. Tether's terms of service explicitly state they have no obligation to redeem.
Tethers only hold value so long as other people believe they do...which is the definition of a fiat currency.
- albntomat0 5y ago> Not possible. Tether's terms of service explicitly state they have no obligation to redeem. Which also leads to a scenario where no one wants to hold Tether > Tethers only hold value so long as other people believe they do...which is the definition of a fiat currency. True, but there's an incredible difference in kind between Tether and the Euro/USD/etc