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The stablecoin tether is a great example of how cryptocurrencies do not solve this problem. Tether claims to have a 1:1 dollar backing for its token and yet inv
by cuteboy19 5y ago
The stablecoin tether is a great example of how cryptocurrencies do not solve this problem. Tether claims to have a 1:1 dollar backing for its token and yet investigation after investigation found absolutely nothing backing their coins. Tether is the most popular stablecoin out there and has a "market cap" of 78 billion [0]. This proves that whatever issues the current banking system has, cryptocurrency has them much worse.
[0] https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/
- landemva 5y agoNot sure how that proves CEFI is good. If you like tether you can use it. I don't. USDP appears to be the most sound, with USDC after that. You may use any of those or none of those or make your own. You are free to choose. Your body, your choice.