Bitcoin
Out of context: Reply #1832
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Jonny may have been onto something...
Is Tether Just a Scam to Enrich Bitcoin Investors?: https://newrepublic.com/article/…
Tether, the third-most widely held coin by value (Ethereum is second), is unique among its peers. In a market built largely on speculation, Tether is a stablecoin, pegged to the dollar at a 1-to-1 ratio. Tethers help provide liquidity and offer a widely recognized token that can facilitate transactions between various cryptocurrencies. In the world of crypto markets, they essentially act as a digital dollar, and they’re everywhere. On some days, Tether’s trading volume exceeds that of Bitcoin.
But the question that hounds Tether—and is the subject of an investigation by the New York attorney general’s office—is whether its most attractive quality is really just to artificially inflate the value of Bitcoin. In other words, is Tether actually a tool for cryptocurrency insiders to get rich on the market’s hottest—and highly manipulable—commodity?
- If it’s backed by dollars at 1 to 1, and it goes into Bitcoin... then it’s just dollars into Bitcoin?shapesalad
- Oh I read the article. Not sure why you’re downvoted. Yeah. Very murky. This is what puts me off crypto.shapesalad
- i am still on my self imposed time out... temperatures run hot when people are serious about their btc investments.jonny_quest_lives
- at the end of the day these are all unregulated exchanges answerable to no one all with opaque board members/ownership...jonny_quest_lives
- someone in here mentioned they entered the market cuz they were bored and wanted to check graphs... totally valid. low risk, low entry threshold.jonny_quest_lives
- probably best argument for putting money in... sounds more fun than wasting money on game dlc's or a bad video gamejonny_quest_lives
- i just have experience with some of the people within the cryptocurrency realm and it was fly by night grifter ville.jonny_quest_lives