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> Why not have a step between #1 and #2? "Tether immediately sells the BTC for $10" Yes, why indeed? That's a great question for Tether! If they were holding e
by jakelazaroff 4y ago
> Why not have a step between #1 and #2? "Tether immediately sells the BTC for $10"
Yes, why indeed? That's a great question for Tether! If they were holding enough actual cash reserves to cover all the USDT in circulation, there wouldn't be an issue.
- function_seven 4y agoMy apologies, I was talking about a hypothetical true stablecoin not whatever Tether is.