4 ms·
Oh good lord no. It's backed by something they originally said was dollars, they then relented after people poked around a bit and confessed it's just a basket
by smcl 4y ago
Oh good lord no. It's backed by something they originally said was dollars, they then relented after people poked around a bit and confessed it's just a basket of stuff they consider equivalent to dollars (plus probably some dollars I guess?)
- byecomputer 4y agoassets: NFT of tweet, hubcap, the power of love, cracked iPhone 5
- Tao332 4y agoPizza coupons, beer bottles that can be deposited for a refund in California
- vel0city 4y agoI've never thought of can and bottle deposits as cash equivalents, but it checks out. More trustworthy than a lot of corporate paper out there today.
- vkou 4y agoYou're forgetting the 6 trillion-dollar "IOU, I'm good for it, pinky swear" from Deadbeat Dave. I'm assuming that's what their commercial paper holdings resemble.
- selimthegrim 4y agoI guess we have yet to find out if time ain’t Bitcoin.
- pcthrowaway 4y agoFor all we know, a portion of that is now UST that they scooped at a discount. It's "equivalent to dollars"
- dehrmann 4y agoIt's not that bad: https://tether.to/en/transparency/#reports https://tether.to/en/transparency/#reports
- can16358p 4y agoIf it really is, then there is no problem at all. The problem is: how do we trust that this report is true?