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Tether is by far the largest counterfeiter of USD and has already been shown to be backed largely by nothing. The introduction of Tether coincided with the hij
by kylebenzle 3y ago
Tether is by far the largest counterfeiter of USD and has already been shown to be backed largely by nothing.
The introduction of Tether coincided with the hijacking of the Bitcoin GitHub repo by the for profit company Blockstream.
Blockstream's Samson Mow had close ties with Tether and El Salvador dictatorial President who made Bitcoin a national currency on exchange for billions of dollars of free Tether dollars.
Tether is not and does not need to be backed by anything other than US intelligence agencies. There is no proof of this other than the fact that the larger USD counterfeiter is allowed to exist and control the price of the hijacked Bitcoin chain with the ticker, BTC.
- RustyRussell 3y agoThis is ridiculous, sorry. The NY AG investigation showed Tether was actually mostly backed at the time (surprising me, too!) And the Blockstream FUD is tired (I am the longest serving technical employee at Blockstream)
- bouncycastle 3y agoI don't like Tether myself, but it's definitely not counterfeiting. To counterfeit something, you need to pass it off as the real thing. Tether is not the real USD, it's just a currency made to be worth around the same amount as a dollar, and the value often hovers around $1, but it's not always $1. Another real world example is the Hong Kong Dollar. Just because it's pegged to the USD, does not mean it's counterfeit.