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I do believe Tether is one huge lie. The fact that it does continue to operate in spite of that being increasingly clear to most people interested in crypto is
by ur-whale 5y ago
I do believe Tether is one huge lie.
The fact that it does continue to operate in spite of that being increasingly clear to most people interested in crypto is because there is a need for something like it.
It's very unfortunate that they (the Tether operators) were the first to implement this at scale and are a bunch of crooks.
However, what is very much less clear is what will happen when (not if) Tether explodes.
How will it affect BTCUSD?
I claim that BTC will be affected (up or down, who knows), but certainly won't die because of it.
- jqpabc123 5y agoA "bunch of crooks" is what you get in any market that operates without oversight or regulation. The real surprise would be if crypto was otherwise.
- ur-whale 5y ago> A "bunch of crooks" is what you get in any market that operates without oversight or regulation. That's unfair. The lack of regulation will pretty much guarantee the existence of crooks in the market. That doesn't make all market participants crooks. I do participate in that market once in a while, try my damndest to respect the laws of the jurisdiction I live in, even when I passionately disagree with them. Also, I have never tried to swindle anyone in my life. In short, I don't consider myself a crook. However, I am completely fine with operating in a market where I do know there are crooks. I try to remain vigilant. If you don't like it, just stay away from it.
- jqpabc123 5y agoThat's unfair. I'm not saying that mere participation makes you a crook. The real crooks are those controlling and manipulating the game. Many (if not most) of those playing the game are just unsuspecting participants and are the ones most at risk of being hurt by it.