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This is an extremely disingenuous argument on so many levels. 1) Banks don't run their own currencies. 2) Banks don't claim to have a dollar on hand for every
by greenthrow 4y ago
This is an extremely disingenuous argument on so many levels.
1) Banks don't run their own currencies.
2) Banks don't claim to have a dollar on hand for every dollar in account balances at all times.
3) Banks are FDIC insured. Even if the bank collapses, you will get your money back.
Crypto bros, it's time to stop defending Tether. It will collapse and you will look just as foolish as the people who backed Luna and Safemoon and all the other scams.
- beojan 4y ago> 1) Banks don't run their own currencies. Some do, namely the Scottish and Northern Irish note issuing banks. These have to be fully backed though. https://www.bankofengland.co.uk/banknotes/scottish-and-northern-ireland-banknotes https://www.bankofengland.co.uk/banknotes/scottish-and-north...