The point I am making here is tether has no proof that the coin is backed by real cash or anything for that matter. Other cryptos that are not scams have a ton of human interactions and equipment infrastructure in place. Coins like ETH, bitcoin, LTC, DASH and so on have systems in place to control the creation of those specific coins. On the other hand no one knows exact numbers of tether there are currently and how many will ever exist. Is that not making up a coin out of thin air?
To an extent, the value of cryptocurrencies is made out of thin air, too.
The point I am making here is tether has no proof that the coin is backed by real cash or anything for that matter. Other cryptos that are not scams have a ton of human interactions and equipment infrastructure in place. Coins like ETH, bitcoin, LTC, DASH and so on have systems in place to control the creation of those specific coins. On the other hand no one knows exact numbers of tether there are currently and how many will ever exist. Is that not making up a coin out of thin air?
So you think Tether is scammy?
Until I see proof that there is some sort of backing to it, yes it is a scam. Not saying that people can not profit from a scam.
Well it is pretty scammy=
https://medium.com/@bitfinexed/the-bitfinex-dilemma-blow-up-now-or-try-a-hail-mary-to-retain-in-business-10b9d989359f
https://news.bitcoin.com/tether-coin-may-be-a-precarious-us-dollar-peg/
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Also decentralized peg to usd are possible=
https://steemit.com/bitcoin/@sames/decentralized-alternatives-to-tether
Also unlike tether which promises value bitcoin does not say it will be worth anything. Really saying a coin will always be a $1 is not trustworthy.