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Jokes aside, Tether can't both determine how many coins are in the market and the price of those coins.

• orthecreedence 5y ago
  No, but apparently they can tell people "this is worth $1" and people will believe them, even if there's nothing backing it. On a long enough timeline what you say might be true, but in the short term it seems that most people haven't gotten the memo.
  • pkulak 5y ago
    It's worth one dollar because, at least until now, Tether has sold as many as people will buy for 1 dollar, and bought as many as people will sell for 1 dollar. I get that everyone hates Tether, and I'm not a huge fan myself, but that doesn't mean that high school econ gets thrown out because you're emotional.
    • orthecreedence 5y ago
      > and bought as many as people will sell for 1 dollar From my understanding, they don't buy them back at all. Has this changed recently?