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As long as they have >1% backed by cash, they are doing better than any fractional reserve bank ;p.
by koonsolo 5y ago
As long as they have >1% backed by cash, they are doing better than any fractional reserve bank ;p.
- jqpabc123 5y ago"Better" for themselves --- no doubt. "Better" for others --- no way. To do "better", submit to an audit to show their cash backing. Instead they claim 100% backed by "something" that is not even clearly defined and has changed over time. And the exchanges play along and collude to keep the "market" price at $1USD.
- koonsolo 5y agoI remember the big bank bailout of 2008. Tether... fiat... they are not that different. Like I said before: problems that cryptocurrency fixes :D.