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tether, at no point in its history, has pretended to claim a 1:1 ratio of tether to actual dollars received or in reserve. They regularly mint huge chunks of co

by elif 4y ago

tether, at no point in its history, has pretended to claim a 1:1 ratio of tether to actual dollars received or in reserve. They regularly mint huge chunks of coin and give them to exchanges under legal agreements that have nothing to do with cash transfers.

suggestion 4y ago
This is plainly false. You can use any search engine and cap the date at 2020 and search tether fully backed. https://duckduckgo.com/?q=tether+fully+backed&t=fpas&df=2015-01-07..2020-01-08&ia=web https://duckduckgo.com/?q=tether+fully+backed&t=fpas&df=2015...
- jiggawatts 4y ago
  "Tether says" is the crypto equivalent of "Putin says". Nobody believes them, especially since the company lied repeatedly in the past. They lied about the co-ownership by Binance, they lied about printing money out of thin air, they lied about getting a proper audit, and all but a few of the founders are fraudsters with a history of lying.
  - andirk 4y ago
    We're not saying it is actually backed 1:1 by USD or another fiat or anything. We're saying that Tether _claims_ such.
Marazan 4y ago
What the actual fuck are toy talking about? Yes they did. They claimed every Tether was 1:1 backed by US Dollars. Not assets with equivalent dollar value but full on actual dollars. They kept doing so until they lie was fully exposed. Then they changed their story.
andirk 4y ago
Except according to Tether, "All Tether tokens (USD₮) are pegged at 1-to-1 with a matching fiat currency and are backed 100% by Tether's reserves." [0] https://tether.to https://tether.to But other than that, yeah.
- baobabKoodaa 4y ago
  If you read further, you will find that Tether is not currently claiming that "reserves" would equal "dollars". This used to be different, though, so your parent poster is still wrong (though they are wrong due to a different reason than the one you spelled out).
- elif 4y ago
  Reread your quote. It says the value is "pegged to fiat" AND "backed 100% by reserves" Nowhere does it say every tether is backed by a $1 reserve. You're falling for their slick scam words. (Around 2017 I did a lot of research into tether, even reading their entire legal terms)
rewtraw 4y ago
It’s literally on their homepage
- baobabKoodaa 4y ago
  Nope, not anymore.

by elif 4y ago

suggestion 4y ago

This is plainly false. You can use any search engine and cap the date at 2020 and search tether fully backed. https://duckduckgo.com/?q=tether+fully+backed&t=fpas&df=2015-01-07..2020-01-08&ia=web https://duckduckgo.com/?q=tether+fully+backed&t=fpas&df=2015...

jiggawatts 4y ago
"Tether says" is the crypto equivalent of "Putin says". Nobody believes them, especially since the company lied repeatedly in the past. They lied about the co-ownership by Binance, they lied about printing money out of thin air, they lied about getting a proper audit, and all but a few of the founders are fraudsters with a history of lying.
- andirk 4y ago
  We're not saying it is actually backed 1:1 by USD or another fiat or anything. We're saying that Tether _claims_ such.

Marazan 4y ago

What the actual fuck are toy talking about? Yes they did. They claimed every Tether was 1:1 backed by US Dollars. Not assets with equivalent dollar value but full on actual dollars. They kept doing so until they lie was fully exposed. Then they changed their story.

andirk 4y ago

Except according to Tether, "All Tether tokens (USD₮) are pegged at 1-to-1 with a matching fiat currency and are backed 100% by Tether's reserves." [0] https://tether.to https://tether.to But other than that, yeah.

baobabKoodaa 4y ago
If you read further, you will find that Tether is not currently claiming that "reserves" would equal "dollars". This used to be different, though, so your parent poster is still wrong (though they are wrong due to a different reason than the one you spelled out).
elif 4y ago
Reread your quote. It says the value is "pegged to fiat" AND "backed 100% by reserves" Nowhere does it say every tether is backed by a $1 reserve. You're falling for their slick scam words. (Around 2017 I did a lot of research into tether, even reading their entire legal terms)

rewtraw 4y ago

It’s literally on their homepage

baobabKoodaa 4y ago
Nope, not anymore.